Don’t Panic if You Can’t Sell Your House in El Paso
By: Kyle Spearin
Are you having trouble selling your house?
Selling a home can seem like an exhausting process. You wait and wait, but nothing seems to be going right. In the current market conditions, you might be struggling to figure out why your house isn’t off the market already. After all, supply is relatively low and demand is high. On top of that, interest rates are low, so buyers should be flocking to your doorstep to make an offer.
There are a number of factors that can lead a home to go unsold. In many ways, selling a house can be a lot like tweaking a recipe when cooking. It just takes one ingredient to be missing or too much of something else to throw off the entire dish. In other words, you need to tweak your home selling strategy in order to get the results you desire.
If you’re still feeling apprehensive, don’t panic. This article outlines key factors that can help you sell your house, even when you feel stuck. Follow the suggestions below and your house will be off the market in no time!
Talk to Your Realtor
To successfully sell a home, it takes cooperation and communication between the realtor and the sellers. The first thing you should do when you’re feeling discouraged with your selling prospects is to talk to your realtor. Remember that they want to sell your house just as badly as you do–this is how they get paid!
- Market Trends
Start by discussing trends in the market. Has your realtor seen any changes that would impact the home buying process? It could be that a house down the street is listed at a lower price, it could be that interest rates shifted, perhaps it’s something totally different.
Having this insight will help you paint a better picture of why your house isn’t selling. In turn, you will be able to use this information to make the changes necessary to get your house sold ASAP.
When talking to your realtor, you should ask them about their marketing efforts. Good marketing can drive people to your open houses and helps generate offers–the more, the merrier. This includes actions such as outreach to other realtors, open houses, and any additional advertising they have at their disposal. Find out if they are getting responses from any particular type of outreach or if it needs to be entirely revamped.
Make sure your realtor can explain exactly what they’re doing and how they plan on correcting the course.
How many days has your house been on the market?
According to Zillow, the typical US home spent between 65 and 93 days on the market, from listing to closing. If you live in a hot market and your house is sitting, you need to consider pricing.
Have your realtor pull some data on comparable (comps) houses. This will show you a great deal of information that can help determine whether or not you need to adjust your pricing strategy. Reading these reports can reveal how long certain houses are on the market, their pricing, and other details. From there, you can determine if you need to make changes to successfully sell your house.
Although your realtor is the one who enters the price of the home into the MLS, it’s ultimately up to you to decide how to price your house. A realtor can do a brilliant job of marketing the property, but come up short if the price is out of touch with what the market is doing. Selling a house can be an emotional experience, but looking at numbers objectively will enable you to make a decision based on logic.
In many respects, price is just another marketing tool-– it helps get buyers’ attention and brings people to your open houses. If your house is priced higher than similar houses in the area, buyers will probably flock towards lower priced homes. Wouldn’t you do the same if you were a buyer?
Some sellers are afraid that listing a house too low will ruin profits and make it so that they can never go up in price in the future. First, you need to know that you don’t need to accept an offer that you don’t like at any price. You want your house to be listed at a competitive price so that buyers get in the door and fall in love with the place. Then, in a hot market, there might be a bidding war or at the very least offers to consider.
Use pricing to your advantage. Be sure to discuss this with your realtor and come up with a strategy that maximizes visibility. From there, you will have a far greater chance of attracting a buyer.
Another major factor contributing to home sale is appearance. There are ways to make your house more appealing to potential buyers that will increase the likelihood of an offer.
When someone approaches your house for the first time, you have a chance to make a positive impression. Curb appeal can help you draw potential buyers in without ever setting foot inside your home. Things such as landscaping and basic home maintenance can make a huge difference.
What does the inside of your house look like?
People want to envision themselves living in your space. To help them do this, you want to try to remain as neutral and minimalist as possible. This means that you need to declutter as much as possible and dial back your interior design. Having a professional staging might be to your advantage, or perhaps you just need to tidy up a bit.
Make sure that you don’t overlook your house’s appearance.
By diagnosing the problem and finding the appropriate solution, you will be able to sell your house. Be sure to talk to your realtor, revisit pricing, and pay attention to your home’s appearance. With these simple solutions, you can sell your house faster than before.