Your house didn’t sell, what happened?

 I always suggest, look at what happened and what we can learn from it?

When you are on the market the last time, how many showings did you get? How many offers did you get? Were you under contract that it just fell apart? Like, what are the specifics on why your home didn’t sell?

We need to know, what the feedback was, because that really going to tell us, “Okay, if there’s anything that we can fix, let’s try to address it.” There are also issues that are non-addressable like the location, it’s in a floodplain, or the yard is too small. Those are the objections that you’re not going to be able to fix, but you might be able to address with a price adjustment.

 Those are just a couple of things to think about. The other thing you want to think about is reflect. What was the pre-listing strategy? What was the marketing strategy? And what was the pricing strategy?

Like for the pre-listing strategy, it should have been getting the house as ready as possible. So that it shows in the best light as possible and get professional photos. Just highlight everything that we can do, staging if you need it. You want to make sure that A) it was presented beautifully. Make sure if their marketing materials were used. In online, paid ads. Offline, in postcards or in magazine. There’s a whole strategy to it. It’s not just simply putting the sign in the yard and pray that it sells.

There’s a lot of work that goes behind it. Let’s look at what happened the last time and where you can make improvements this time?

In terms of pricing, you have to think about that as well. Like you were getting showings and no offers, that means you were priced over market value. If you are getting showings and just getting low offers, it means you are close but not quite there yet. In line with this, we have to look at the data and see what is the market value of your house currently, in this market? Then, how can we price it, to get as many people in through the door as possible? So maybe we can get, not only one, but two good offers to choose from.

That’s my advice. If your agent told you all about these before and you weren’t listening, I suggest you listen. You hire a professional for a reason. To guide you. To give you the professional opinion about the market and data. Use them

A lot of people usually go in to the market and state their price. Remember, we don’t set the pricing or the market value. It is set by the buyers of the property and what they’re willing to pay for.