When to Worry Your House Is Not Selling:
We have the answer to why a house is not selling in a hot market in Metro Detroit. ~
Your home didn’t sell, and many homeowners find themselves asking the question, “If we’re currently in a hot housing market, why won’t my house sell?” Below are the 5 most common reasons why a House is not Selling:
1. Your House is not Selling for Top Dollar if You Don’t Have a Strong Marketing Plan
Having a marketing plan is essential! We have a new problem with selling your house online; it’s an exposure problem. According to NAR’s 2021 (November Update) Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. You are competing based on price alone. I recommend you influence your buyer(s) so they see the value in your home. More Influence = More Money.
Know the Characteristics of a Home Buyer. Does your home meets the criteria of a 1st time home buyer, or is your home more for the move-up buyer. Your story needs to change based on who you’re marketing to. Agents need to 🛑 doing one size fits all marketing and advertising.
Read What Agent’s Write ~ Now the Difference between Exposure and Influence.
If you want to sell your home, you need a real estate professional who understands your local market and knows how to promote your home online. What is their knowledge of the various marketing platforms, and are they certified? It’s essential to do research way beyond the brokerage firm. They need to be strong in Web Development and High Tech Digital Marketing. Something as simple as using pictures taken by a professional photographer can significantly impact advertising your home! But that is not enough.
2. Your House is Not Selling Due to the Condition
Even though we are in a hot housing market and buyers are willing to overlook imperfections, you still need to be mindful of the condition of your home. Did you know when the appraiser visits your home, they will rate it? The price could go down or up depending on the conditions, updates, and renovations depending on the rating. Most agents recommend that homeowners declutter their houses before putting them on the market. Buyers want to imagine themselves living in the home instead of focusing on the current homeowner’s decor. It’s helpful to review Staging as well.
It’s essential to take care of minor problems like dripping faucets and torn screens while also remembering to remove any posters hanging in your teenager’s bedroom. Making sure your home is in perfect condition will make buyers fall in love with it and ultimately help you get the right price for your house and see multiple buyers compete.
Know the Condition of Your Competition
In many areas, builders take advantage of the lack of homes for sale by building new houses. These newly constructed homes create competition for existing homes in the market. For this reason, many homeowners are making renovations and updates to their homes to compete with the new construction in their market.
3. Was There a Lack of Communication with Your Agent?
I recommend you create a communication plan to review all your statistics to ensure your property was separated from the competition. You need to check your stats from your private Property Website, Social Media Ads, and YouTube Video Views before you even consider reducing the price. You don’t need a post and pray, Realtor. They put your property in the Multiple Listing Service and Pray a buyer sees it. This is problem #1; you’re competing based on exposure alone.
What is Your Communication Style
Keeping an open line of communication with your agent is crucial in getting your home sold with the least amount of hassles, in the right amount of time, and for the right price! Discuss your communication style and how you would like to be kept up to date, and how often. From the beginning, establish a continuous line of communication with your agent, and make sure you review your marketing often to see if any changes need to be made. See what we do differently to get Homes Sold that other agents couldn’t.
4. Your House is Not Selling Due to Price?
Sometimes when the market is hot, homeowners attempt to set their listing price higher. They hope that a motivated buyer will be willing to pay any price for a house in their desired neighborhood! Sellers must remember, though, that a house must be sold twice in today’s market, first to the buyer and then to their bank. I find that agents and sellers don’t understand the difference between the Price vs. Value-Driven Approach.
The Appraisal Process
With interest rates rising, buyers have less money to cover Appraisal Gaps. A buyer can agree to pay the homeowner’s asking price, but the price might need to be adjusted after the bank conducts its appraisal. The bank will only give the buyer a mortgage for the value determined in the appraisal.
Homebuyers are Educated
Sellers must also keep in mind that today’s homebuyers are well-educated. This is why it’s so important to make sure that your home is priced right from day one on the market! Before they buy a house, they have already seen many houses online. They’ve researched the neighborhoods they are interested in, including information on the school districts in the area. They will know if your house seems overpriced and will not waste their time considering it.
5. What is Your Motivation as a Seller?
Why are you considering a move? Are you ready for a meaningful lifestyle change? I’m not saying you need to give your house away. It’s important to be realistic about what needs to be done to achieve your goals.
If homeowners are motivated to sell, they will ensure their houses are priced right and in good condition. Your motivation will push you to consider all offers and help you make the right decision for you and your family’s future.
Find Out How Strong the Sellers’ Market is in Your Neighborhood
Now that you know the housing market trends on a national level. You need to review the numbers for your City and Price Ranges for more accurate numbers. Every month we update the live 3-year live trends by city by the 15th. Equally important is how long it takes homes to sell in your City and Price Range. You also have access to custom data for Sold Homes, so you don’t have to rely on Public Websites Estimates.
Easy access and communication, call or text 248-343-2459. It’s essential if you’re Buying or Selling is to know and understand the numbers. Sign up for our Newsletter to Keep Up to Date or check back around the 15th of the month.
Your 🔑 To Home Selling and Buying Success ~ Safe PDF Guides
👈👈👈 Watch Video for Sneak Peak
Don’t muddle through the Home Buying and Selling Process. Buying a new home is a dream for all of us, and it’s an emotional and stressful process. It also involves the most significant financial transaction you probably will make in your lifetime. Your Selling Guide…It will help you work through the selling process using the latest in high-tech market tools, so you make MORE MONEY.
Your House is Not Selling Bottom Line:
Houses sell every day because they are listed at the right price, have the right marketing plan, and are staged for sale. If, for some reason, your home didn’t sell and you’re still motivated to get it sold, let’s get together to figure out the reason your house isn’t selling in a hot market!
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st… I Recommend 🛑Doing This!
No 2 homes are alike, and agents need to 🛑 marketing ONE size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE 💰. We have details on how you can utilize High Tech Marketing and Win!
If you have any questions, contact us: Chatbot 🤖 at the bottom. Contact me by Email 📩 or my Cell 📲 @ 248-343-2459. Would you mind sharing your thoughts below or what future article you would like to see? Your opinion is important to us…. this site is for you.🤩 To Keep up to date request our 🏡 Chat Newsletter or Follow us on Facebook, Instagram, or YouTube.
Could you help me Find my Perfect Ideal Home!
Please tell me what you’re looking for in your new Ideal Home…I can help you find the newest and best homes on the market.
Let us know what we can do to help you work your way through the Buying & Selling Puzzle.
Website Development, Production, and Content by Pam Sawyer @ Team Tag It Sold © 2017 All Rights Reserved