Why Your House Isn't Selling - Part One

Difficulty selling your house could result from factors beyond your control, but the causes often include factors that sellers do control, even in difficult market conditions.

Has your house has been on the market longer than the average time for houses in its price range?  In today’s economy, difficulty selling could result from factors beyond your control, such as the number of qualified buyers who are actively looking, the availability of credit, how well homes are selling in feeder markets and your competition. However, the causes often include factors that you do control, including your approach to selling, the condition of the house, its presentation and price, or a combination. Fortunately, you have more power to affect the selling outcome than you may realize, even in difficult market conditions, but you may have to take some steps that weren’t acceptable to you initially.

Review your approach to selling. How motivated are you? Are you selling because you want to, with a firm price and no definite time frame, or because you have to sell as quickly as possible? Are you living in the house the way you always have, or are you selling it? Do you have realistic expectations about what it takes to sell? Assuming your agent has done his best, don’t hold him solely accountable for the lack of results, when you’re the one who holds the purse strings and makes the decisions about the condition and presentation of the house. Have you given your agent a good product to sell? Ask what feedback he’s gotten from other agents and from buyers, and what he thinks your strategy should be. Reconsider your willingness and true financial ability to enhance the marketability of the house, because they have a profound effect on everything else.

Selling your house successfully is a team effort. You’re the leader who creates the team, and makes the key decisions. Starting next week, we’ll give you pointers on how to address the areas that sellers control. If you hesitated to involve outside specialists before, now is the time to take charge, expand your team and get professional advice. Although you haven’t had the results you wanted so far, don’t be discouraged. It’s never too late for a fresh start, and the changes you effect can make a difference.

Smart Selling Tip:
In a difficult economy, smart sellers take charge and focus on the things they can control: the condition of the house, its aesthetic appeal and price. They bring in professionals when needed, and are willing to make some changes.