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What Should I Do If My Home Isnt Selling?


Suppose you've been trying to sell your home for months. You haven't had even a nibble from a prospective buyer. What should you do?

Call your agent to request a strategy meeting. Tell him or her to bring you information about current sales activity in your neighborhood, as well as any feedback from agents who have shown the property to prospective buyers.

What are the current market conditions? Is your home the only one of its kind on the market that isn't selling, or is the market just very slow? How long is it taking similar properties to sell? Are you being impatient or does your marketing plan need to be modified?

Find out how many listings similar to yours have sold since your home was listed for sale. What were the asking prices? How did the properties differ from yours in terms of condition and amenities? Why does your agent think competing listings sold and your home didn't?

Ask your agent to give you a summary of the feedback from agents who showed your home to prospective buyers. What was the consensus about your list price? Were there any negative comments about the decor of your home? Did agents mention that your home was hard to show?

Agents need to be able to show your home easily and on short notice. If you have set up a complicated showing procedure, modify this to make it easier for agents to show and sell your home. If other listings in your area have lock boxes, you should too.

There may be something about your decor that buyers don't like. Strong colors and busy wall paper patterns can make a home difficult to sell.

First-Time Tip: In most cases, homes don't sell because they are priced too high for the market. Sellers often wonder why buyers don't make offers on over-priced listings. Motivated buyers usually don't have time to waste, and a high price signals that the sellers may be unrealistic.

In a buyer's market where there's plenty of inventory, buyers gravitate to the listings with the most competitive prices. If prices are flat or falling, buyers usually won't make offers on over-priced listings for fear they might overpay in a declining market.

You and your agent should analyze your entire marketing program, including the list price, and set a new strategy. If your price is too high for the market, reduce the price enough to have an impact.

Usually a price reduction equal to five or ten percent of the list price will be necessary to generate new enthusiasm for the property. So if your home is listed for $250,000, you should reduce it $12,500 to $25,000 in order to make a substantial impact.

You may have to improve the condition of your property AND make a price reduction. If so, make cosmetic improvements before reducing the price. After the home is fixed up, reduce the price and ask your agent to hold another open house for the real estate agents, as well as another public open house.

It's often difficult to get agents back to look at a home that has been on the market for awhile. A cosmetic face-lift combined with a substantial price reduction ought to generate new interest in your home.

The Closing: Sometimes a home isn't selling because the agent isn't doing his or her job. A successful home sale requires teamwork between you and your agent. If at the end of the listing period you are not satisfied with the agent's services, change agents.

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MORE RESOURCES:

Real Estate - Google News

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TEXT: S&P: Nomura Real Estate Residential Fund Bonds Rated 'A'
Reuters
8, 2012--Standard & Poor's Ratings Services today assigned its 'A' rating to Nomura Real Estate Residential Fund Inc.'s (NRF; A/Stable/A-1) proposed JPY5 billion series 2 unsecured bonds, due Feb. 24, 2017. The rating on NRF reflects its relatively ...

Apple Valley real estate developer rejects offer in San Bernardino County ... - San Bernardino Sun


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“Singapore and Hong Kong are two of the freest economies in the world, yet you pay more in stamp duties [real-estate transaction taxes] now than you would in London, because they are very worried about the markets continuing to overheat,” Murphy said.

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Rogue Valley Commercial Real Estate In Upswing - KDRV


KDRV

Rogue Valley Commercial Real Estate In Upswing
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Signs advertising commercial space for sale are not hard to find in the Rogue Valley, but local real estate agencies say these spaces are gradually becoming easier to fill. Strips of retail or office space are seen in many areas around Medford.
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Real estate market likely to see an increase in M&A activity - China Daily


China Daily

Real estate market likely to see an increase in M&A activity
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By Hu Yuanyuan (China Daily) BEIJING - China will see more mergers and acquisitions in the real estate sector this year, with domestic players continuing to dominate the market, according to industry analysts. The cash flow of property developers will ...

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Real estate developer says he plans to make cash bid for Philadelphia's 2 ... - Washington Post


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PHILADELPHIA — A wealthy real estate developer said Tuesday he and four partners plan to make an offer to buy the city's two largest newspapers, whose downtown offices he already owns. Bart Blatstein said he plans to pursue an acquisition of some or ...

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Real estate market rebounding - Park Record


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The Park City Board of REALTORS shut the book on the 2011 real estate market, releasing their annual report on last year's number of sales, sales prices and number of foreclosures. 2011 sales increased by a total of six percent from the year before ...
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Alexandria Real Estate Q4 FFO Rises - Quick Facts - NASDAQ


Data Center Knowledge

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(RTTNews.com) - Alexandria Real Estate Equities Inc. (ARE) Tuesday reported an increase in funds from operations for the fourth quarter, as revenues grew. Funds from operations, FFO, attributable to common stockholders for the quarter was $67.8 million ...
Alexandria Real Estate Equities, Inc. Reports Fourth Quarter and Year Ended ...MarketWatch (press release)
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REAL ESTATE: Refinancing expanding for Fannie/Freddie borrowers - Press-Enterprise


Daily Mail

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With the changes that are expected to make the program much more effective, the program is being called HARP II by those in the real estate and mortgage industries. Probably the most significant improvement is that it lifts the ceilings on the amount ...
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The Real Estate Book Helps Agents Go Mobile in Just Minutes With Free Online ... - MarketWatch (press release)


The Real Estate Book Helps Agents Go Mobile in Just Minutes With Free Online ...
MarketWatch (press release)
LAWRENCEVILLE, GA, Feb 07, 2012 (MARKETWIRE via COMTEX) -- With more and more consumers relying on mobile devices for local information, real estate professionals can no longer ignore this increasingly important channel when marketing properties.
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