If you’re home isn’t selling, you’ve done everything your realtor has told you to do, and you’ve even lowered your asking price, what is the next move?
If the realtor’s contract is coming to an end, should you keep trying to sell the house or take it off the market and possibly rent it out?
Here are some few things to consider before you call it quits :
–Take a good and hard look at the numbers : The first thing to do is evaluate the way the house is priced. For example, look at the active competition and ask if your house could be marketed better. When a home is stalling on the market, it’s often a price issue. Scrutinize the market before making a decision. If you’re comfortable with lowing the price, try selling it for three more months.
–Analyze how your home was marketed : Before you take the next step, really check what happened over the last six months. Ask yourself a few questions, such as, were you provided with traffic reports and detailed information about the number of people who saw the house, what client feedback did you get, what advertising did you do in print as well as online, and do you have details on what people who viewed your property ended up buying? If you aren’t happy with the marketing approach, it may be time to seek another real estate professional.
–Don’t limit your options : So you discovered your home was priced appropriately and you have no critiques with your realtor’s approach. It’s time to realize that your market may be in a slowdown. Ask agents about the typical time on the market. You could put the house up for rent and for sale at the same time so that potential clientele have a trial period. Maybe it’s just a slow time in your market, and the rental market is really strong. Maybe a year from now the market will be better.
