If your listing expired without a sale, it’s natural to feel frustrated and disappointed. As you process these emotions, you may also wonder what went wrong and what steps to take next.
Re-Evaluate the Price
Setting the right price from the beginning is crucial. Overpricing can deter buyers and prolong the selling process. Rocket Mortgage emphasizes the importance of starting with a realistic price to attract initial interest and avoid potential buyers moving on to other listings.
“Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . . If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing. . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment. Your home’s true value is whatever a buyer is willing to pay for it.”
Ensure Easy Access for Showings
Limiting the days and times buyers can tour your home can significantly reduce exposure. Be flexible with your schedule to accommodate showings, as more accessibility increases the chances of attracting interested buyers. ShowingTime advises maximizing flexibility for showings.
“. . . do your best to be as flexible as possible when granting access to your house for showings.”
Make a Positive Impression
Consider how your home appears to potential buyers. Address any repairs, even minor ones, as they can impact buyers’ perceptions. Simple updates like landscaping, fresh paint, and decluttering can enhance your home’s appeal. Staging the home may also be beneficial.
Be Open to Negotiations
If you received offers but were unwilling to negotiate, this might have hindered the sale. While aiming for top dollar is natural, being realistic about the market conditions is essential. With increasing home inventory and higher mortgage rates, negotiating can help close the deal. Ramsey Solutions suggests considering alternative incentives if you cannot address home issues.
“If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. . . An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top.”
Listen to Your Agent
Consult a trusted Benson & Mangold agent for expert advice on why your home didn’t sell. A good agent will discuss what worked, what didn’t, and provide strategies for re-listing. Better Homes & Gardens highlights the importance of open communication with your agent to address any frustrations and develop a plan moving forward.
“If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”
Bottom Line
Feeling disappointed when your house doesn’t sell is normal. Work with a reliable Benson & Mangold agent to identify the issues and implement changes needed to successfully re-list your home.
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