If your home has failed to sell in the past and you blamed the market, I have news for you: The real culprit is your motivation and your strategy.
If you’re a current home seller who is having a hard time selling, or a homeowner who has failed to sell in the past, it’s not the market—it’s your strategy. Let me explain:
I talk to a lot of homeowners who have tried to sell in the past unsuccessfully and their No. 1 scapegoat is the market. Does the market play a massive role in what you sell your home for? Absolutely. Can you sell a home for a lot more when the market’s hot? Yes. However, there is one thing I want you to think about.
When I meet with a client, the first thing I focus on is their motivation. What I have found is that the homeowners who don’t really have to sell, but would like to sell, know they just won’t sell unless they get the price they want. When I hear that, I hear an unmotivated seller. “Not motivated” doesn’t mean that they’re not willing to sell, but it does mean that they’re not willing to sell for a price that makes sense to buyers. If the situation isn’t perfect, they aren’t willing to sacrifice what’s necessary to get the price they want.
When I meet a client who is motivated for one reason or another, the next question they have is, “What can you sell our home for now?” and “What can we do to squeeze a little bit more money out now?”
Think about it like this. If you must sell your stocks and the next day the price goes up, you can’t get mad. When the prices are high and you cash out, you’re happy, but the stock is going to sell for what the going rate is today. The same thing happens with real estate. If you aren’t going to put your strategy together based on the current market, you’re going to lose.
We can’t create miracles and get buyers to pay 10% to 15% more than it’s worth. If you are thinking about getting your home back on the market, here are a few questions you should ask yourself and your agent:
- How was my home presented the last time it was on the market?
- How did the photos look online?
- Did we price the home according to what homes in the area are selling for?
- Are we competitive based on what else is out there?
- What was the agent’s feedback?
- What was the buyer’s feedback?
I call this a listing experience audit, and everytime I meet with a seller who failed to sell in the past, this is what we start with. Once we answer these questions, we can find solutions to your future home sale.
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon. Until then, Happy selling!