What if my home doesn't sell during the listing period?
Most listing agreements, regardless of the real estate company you are using, are for 180 days (6 months). It is very rare for a home not to sell within the 180 day listing period. Factors that contribute to a home not selling would be 1) priced too high 2) bad location 3) home needs too many repairs 4) home is dirty, smelly or has lots of animals that make it difficult to show 5) homeowner will not allow a lockbox or will not allow showings at prime showing times. The more "strikes" you have against your home, the harder it will be to sell. By minimizing the negatives, you can maximize the chances of your home selling within a reasonable amount of time. Price the home competitively based on the market and the condition of the home. Keep the home clean and free of clutter. Keep you animals out of the way (especially if they are dangerous or scary). Don't turn down agents when they try to make an appointment to show your home, they just might have THE buyer you're looking for.
OK, so what happens if your home doesn't sell during the listing period? You have 3 options. Option 1 is to not sell (for some sellers, this is not a real option). Option 2 is to sit down with your agent and re-evaluate the situation to figure out what the problem is. Usually by correcting some of the problems listed above, your house will eventually sell. Option 3 is to try your luck with a different real estate agent. Sometimes your agent may be contributing to the problem by not being aggressive enough or just putting a sign in the yard and disappearing. It is imperative that you have a very proactive agent when dealing with a listing that is hard to sell.
In almost every case, a home will sell if you are willing to sell it at "market price". What is "market price"? It is the price that a willing and able buyer will pay for YOUR home. The price you want to get for the house may not be the market price. Although it is very rare, there have been sellers who actually had to pay money at the closing to sell their home and move on. Your best bet is always to hire a competent and experienced RealtorŪ and listen to their expert advice about what to do to sell your home.
Dave@SanJacRealEstate.com (713) 894-9436 Phone (281) 476-6533 Fax
The information contained on this page and website was written and produced by Dave Turnquist and is the sole property of San Jac Real Estate. No unauthorized reproduction or use of this information is permitted without the expressed written consent of Dave Turnquist, Broker/Owner of San Jac Real Estate