I’ve been in the real estate business for a long time now, and during that time I have answered many questions on the topics of selling a home. The question that I hear most often is “Why didn’t this house sell?” Many different people including other agents have asked me this question. I tell them there are many factors why a home might not sell. The most common factor is the home is overpriced. There are many important factors that come into play when deciding on an asking price for a house that is for sale. A couple reasons that cause’s the asking price to be too high are unrealistic expectations from the seller and an over enthusiastic listing agent. These reasons and many more can cause a house not to sell. Even in cases where an offer is made on an overpriced home, the hopes of the homeowner and buyer can be shattered when the buyer realizes he will have some problems financing the home. One way to determine if you have an overpriced home is by checking the prices of similar homes that are nearby. If those homes are selling for less than yours, you may have priced your house too high. In the end it is the buyer that sets the price of the home because they are shopping for the best deal and will typically pick a similar home that has the lower asking price.
If you put a home on the market that looks like it has been twenty years since it was last painted, home buyers will not be impressed. Most people that are looking for a home to buy want to know that the home is ready to move right into. The chances of a quick sale are much higher for a home in good condition. You need to take a step out of your shoes and into the shoes of a home buyer to view your home with a very critical eye. Then you will be more apt to see what needs to be done to make the home more attractive to a home buyer. You might find that you need to repaint the inside and outside of your home. Paint does not cost that much and a freshly painted home will make a big impact on a home buyer. You should also make sure that the flooring is in good condition. New flooring is not that expensive and if yours is worn, you should have new flooring installed. New carpet and flooring will be something that makes a positive impact on the potential buyer.
Another important point is that for anyone to buy your house, they need to see it. Agents will need to show it to as many potential buyers as possible. Real estate agents are typically pretty busy and will find homes that accommodate their schedule and are easily accessible. Having a lock box at your home and being flexible with scheduling showing appointments is vital to getting traffic through your home.
You should also check to make sure that your agent has an aggressive marketing plan to sell your home and ask them to explain that plan to you. You can then determine how effective that real estate agent will be in selling your home. Request for your agent to show you the information on some of the homes for sale in your area and make sure that he agent knows your market.
If you would like to have your metro Denver, Colorado home evaluated to determine why it did not sell, or if you need advice on how to sell your Denver home for the best possible price visit my Denver Real Estate website, and give me a call.
