Why Houses DO NOT Sell in a Strong Market ๐Ÿคจ๐Ÿ ๐Ÿ“ˆ๐Ÿ“†๐Ÿ“…๐Ÿ‘Ž

Many homeowners find themselves asking the question, โ€œIf weโ€™re currently in a strong real estate market, why wonโ€™t my house sell?โ€

Below are the 5 most common reasons why a listing contract will expire:

1. The Price

Sometimes when the market is hot, homeowners attempt to set their listing price higher. Their hope is that a motivated buyer will be willing to pay any price for a house in their desired neighborhood! Sellers must remember, though, that in todayโ€™s market a house must be sold twice; first to the buyer and then to their bank.

A buyer can agree to pay the homeownerโ€™s asking price, but after the bank conducts their appraisal, the price might need to be adjusted. The bank will only give the buyer a mortgage for the value of determined in the appraisal.

Sellers must also keep in mind that todayโ€™s homebuyers are well-educated. Before they look to buy a house, they have already seen many houses online. Theyโ€™ve done their research on 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. This is why itโ€™s so important to make sure that your home is priced right from day one on the market!

2. The Condition of the House

In many areas, builders are taking advantage of the lack of inventory 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 marketplace.

Most agents recommend that homeowners declutter their houses before putting them on the market. Buyers want to be able to imagine themselves living in the home instead of focusing on the current homeownerโ€™s decor.

Itโ€™s important to take care of the small problems like dripping faucets and torn screens, while also remembering to remove any posters hanging in your teenagerโ€™s bedroom. Making sure your home is in perfect condition will make buyers fall in love with it and will ultimately help you get the right price for your house!

3. Sellerโ€™s Motivation

Why did the seller put their house on the market in the first place? Is the sellerโ€™s motivation still the same as it was when they first listed?

If homeowners are really motivated to sell, they will make sure their houses are both priced right and in good condition. The sellerโ€™s motivation will push them to consider all offers and help them make the right decision for their familyโ€™s future.

4. Marketing Plan

Having a marketing plan is important! According to NARโ€™s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. The days of looking for a newspaper ad or yard sign in your preferred neighborhood are over.

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. Something as simple as using pictures taken by a professional photographer can make a huge impact in advertising your home!

5. Lack of Communication with Your Agent

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! From the beginning, establish a continuous line of communication with your agent, and make sure you review your agreement often to see if any changes need to be made. For example, adjusting the selling price!

Bottom Line

There are houses selling every single day because they are listed at the right price, have the right marketing plan, and are staged for the sale. If for some reason your home didnโ€™t sell and youโ€™re still motivated to get it sold, contact us and we can help you figure out the reason your house isnโ€™t selling!

 

Ady Simion Call/Text at (626) 607-8652 or email me at Ady@AdySimion.com

Click hereโ€ฆto check your home value in seconds!

Click hereโ€ฆto search great deals, foreclosures and short sales in your area.

About Ady Simion (Realtor and Public Notary)

Ady Simion was named in the Top 1% of all agents for NRT LLC a subsidiary of Realogy that operates a variety of real estate offices under brands such as Coldwell Banker, Sotheby's International Realty, Century 21, The Corcoran Group, and the technology-based brokerages ZipRealty and Climb Real Estate. NRT has 787 offices and 47,000 sales associates. Selling and buying property can be very stressful but with the right agent it can be profitable and a fun experience. Ady is also a Notary Public and being a people person he wants to help negotiate for his clients making their transactions as smooth as possible. Adyโ€™s goals are simple: He wants to be the best source of information on the Los Angeles area Real Estate market, as he assists clients through each transaction with care and professionalism. He is proud of his large referral base of clients who have placed their trust in him over the years. Why him, when there are so many good people out there?!?! โ€ข Sellers will have their property exposed to the largest team of sales professionals in the world by far. Coldwell Banker Agents sale more homes than anyone else. โ€ข Buyers will have the opportunity to view more properties exclusively. โ€ข And most importantly when you hire him you get a whole team working for you not just โ€œonly one personโ€. Ady Simion started his Professional Career as an Insurance Agent, and then mastered the Mortgage Industry focusing on helping buyers and sellers achieve their life dreams. He now is an Agent with the Largest Residential Real Estate Company in the nation and the world, Coldwell Banker, at the Pasadena office which is the leader in the areas in which he specializes. After finishing College Ady has consistently been a Top Producer in every office/business he worked at. He speaks English, Romanian and Spanish. Real Estate is constantly changing and working with an agent that has been involved in the Real Estate buying/selling process most of his life is always beneficial for clients. Call, text or e-mail him or just stop by to say Hi and ask any real estate questions you may have.

Posted on February 12, 2019, in Uncategorized. Bookmark the permalink. Leave a comment.

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