Selling a house should be easy, right? But sometimes it's not that simple. In fact, there are a few reasons why your property may sit on the market longer than you'd like. Let's take a closer look.
Price, condition and location: these three factors are crucial when selling a home. If you price too much, neglect maintenance, or forget the importance of location, you could be in trouble.
Marketing and Photography: First impressions matter, especially in the real estate industry. Without compelling photos or a lack of attention from your marketing department, you could be missing out on potential buyers.
Market conditions: Sometimes it's not your fault. A slow market or high competition can make it difficult to sell your home, even if everything else is going well.
Real Estate Agent: Choosing your real estate agent can make or break the deal. A good real estate agent will go out of their way for you, negotiate professionally, and have your best interests at heart. But what about a not-so-good real estate agent? That's another story.
Let me share a real-life scenario that might shed a bit of light on the real estate agent factor. Recently, we had a client who was interested in not one, but two properties listed for sale by the same real estate agent. Our offers were solid, close to the asking price, and on excellent terms. But the seller was adamant and insisted on making us an all-cash offer in full. Weeks go by and those properties are still on the market.
In situations like this, it's hard not to point fingers. Was it the seller's decision or did the real estate agent screw up? In my professional opinion, it's pretty clear that the real estate agent got in the way.
Well, here's the cold hard truth that sellers may not want to hear: It all depends on the price. If you overbid on a home, you'll be waiting a long time.
So, that's the not-so-secret formula for selling a house: Price it right, make it look good, pay attention to the location, and choose your real estate agent wisely.