What you need to do now is assess for yourself what factors caused your home to not sell. Some of the top reasons that homes stay on the market for extended times are:
Overpricing the property is the number one reason a home does not sell. A typical neighborhood usually has homes with similar features. Such as, number of bedrooms, bathrooms or lot size. Home buyers will naturally purchase the lower priced homes first. Leaving those similar yet higher priced homes to languish on the market. Your home should be competitively priced with those other homes. That means at or slightly below the comparables. Your Denver real estate agent can go over these comparable prices with you to help you establish the best price to sell your house.
Another problem is price reductions. Once home sellers realize they have priced their home higher than the competition, they will take a price reduction. That price reduction will usually place the home at or near the price where it should have been priced in the first place. Now the problem is that you missed many of the home buyers that already purchased homes priced where yours should have been initially. To get over that your home now needs to be priced very competitively. If your home is still priced higher than any of the comparables, your home will continue to sit on the market.
Did the condition of your property keep it from selling? The house should be cleaned spotless. Most buyers will not see through cosmetic shortcomings. All cosmetic items such as paint, landscaping, window coverings and flooring should be in very good condition. Making these cosmetic improvements costs little to do, but may cost you big if you don't. If the carpet is worn, the house has a strong odor or is cluttered the buyer will move on to the next house.
Did you hire the right Colorado Realtor to market your home? A real estate agent who has a strong network and access to qualified home buyers? Did he or she use aggressive marketing on one of Colorado's most heavily trafficked websites such as HomeDealsColorado.com? Over 80% of buyers today use the internet in their Denver home search.
You might also want to consider Joint Sole Agency meaning you will have two agents marketing your property simultainously. In a way this can kill two birds with one stone as they can bring more buyers to view your home. And it doesn't matter which agent finds a buyer first, as the commission will be divided between them at the end. Beware though, that this also means the rates they charge are more than if you used just one agent through Sole Agency.
These days it is not too difficult to sell a property yourself, if you know all the details about things like contracts and property auction. Using agents may be the traditional way of selling your home, but it is particularly suited to;
-A property that has a for a high value -Buyers who haven't found a house they like yet -You if you are not stuck to a set time limit -You if you want your property to have sold within six months -People who don't want to be too involved with the sale of a property.
Agents can reduce their fee, for example with some you may not need to pay for a HIP, and some might even pay your legal fees! But definitely check with them first. Double check your situation before diving head-first into anything concerning your property; do you need a cash buyer quickly? Are you in a chain but need something to help you move between homes?
Probably the most obvious thing, but if you understand your own situation clearly, giving that information to an agent will help them help you find the best solution. Because they are usually trained or have been in the industry long enough to know a lot of the rules, but it doesn't hurt to know a thing or two yourself.
Even though using an agent may help to reduce the price, there is still no guarantee of an actual sale. No doubt there will be at least some disadvantages to using agents, such as delays, inconvenience and risk, but if you think about it the advantages tend to outweigh the negatives in the world of property.
Both Bruce Swedal & Robert D. Thomson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Bruce Swedal has sinced written about articles on various topics from Real Estate, SEO Articles and Marketing Tool. Bruce Swedal and the rest of the Home Selling Team provide the Market with Experienced and Professional Real Estate Services. Serving both Hom. Bruce Swedal's top article generates over 60500 views. to your Favourites.
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