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Help...My Home Won't Sell!

A common cry that many home and property owners express. A very good question, and one that I have had 25 years of selling real estate to answer. Although not an easy answer, there are a number of things that I will address that will greatly improve your chances to sell.

Condition

First check the over the condition of your home. Look at it from a buyer's point of view. Make sure your home is in the best shape possible according to your ability and budget. You would be surprised how far a little paint, flooring and "elbow grease" go.

Just some good old general cleaning and decluttering go a long way as well. Also make sure everything is in working order. If you have a leaky faucet or a hole in the wall, go ahead and fix them. Touch up or repaint any walls that are scuffed up. Change any outdated wall paper and light fixture. Many of the large home improvement stores have free classes you can take on how to do some of these repairs yourself. Check out our page on StagingYourHome(video) which can really help you set the "stage" for a buyer.

Is the Price Right?

The next thing, and I believe the most important is price...no matter what the condition, it comes down to price. Most any property will generally sell at the right price.

The better the condition and location, the better the price you can get.

Price is not determined by how much you need to get out of the property, its not how much you have in it, and it really is not how much your neighbor got for theirs.

Price is determined strictly by how much a willing buyer will pay and a willing seller take. 

There is no exact perfect price, because each property is completely different, and every buyer is different in how they value each property. One buyer must have granite counter tops where as the next must have a jacuzzi tub.

The real estate broker CMA (Comparative Market Analysis) and an official appraisal are strictly determined by what other like homes in the general area have sold for in the recent past. Your home or property is unique, and is not exactly like other properties that have sold. No two properties are exactly alike, even if they are the same floor plan, they are in different locations, and generally have different interiors. Neither a broker CMA or an official appraisal are scientific exact values, they are both based on like sales in the area.

When listing your home or property for sale, the best way to establish a list price is a real estate broker/agent CMA, or an official appraisal they both are very good places to start. Since the properties used for the CMA or appraisal are not exactly the same as yours, you the seller must be willing to adjust the price if it is not getting any viewings or offers. 

Buyers generally shop for a home by comparing one home to the other, and will usually choose the best one out of a list of properties. If your home is not being shown, usually it means that your home is too high in comparison to other homes in the area that have the same sq/ft and amenities. If it is being show but no offers, it usually means it is the condition, location or floor plan.

Other factors that will effect the price that you may get, is the market condition and the season when you sell. As a seller, you must be willing to make adjustments to your price if you want to get your home sold. Many times a stagnant price will result in a stagnant sale.

Marketing Plan Maps The Way 

Once you  have established a good list price, it is very important to have a strategic marketing plan   Which should be a "road map" to keep you on the right road for getting you the best price possible. A good marketing plan will help you set the proper price, maximizing market exposure, give you regular showing feedback, and keeping you updated on sales and overall marketing conditions in your area.

The Right Agent 

Having a good agent that is familiar with your area, market trends, schools, future developments, and growth, is very important. For example, if a new company was planning on relocating to your area in the near future and were going to be relocating hundreds of employees, it could have a very positive effect on the value of your home or property.

For example the agents for our company First Texas Realty, have over 100  years of combined experience in real estate, and a good part of that time has been sales in the Fort Bend, Richmond and Rosenberg area, which is a real asset to sellers in our area.  

In conclusion to answering your call for HELP is:

• having the best condition possible,
• setting a proper price in the beginning,
• being flexible in your price,
• having a real plan of action
• and choosing the right agent

I believe will result in a sale of your home or property.

Sam Orlando, Broker/Owner, First Texas Realty

www.FTXR.com

email: sam@ftxr.net

call: 281-344-0007

If you are considering selling your home First Texas Realty offers a FREE Professional Comparative Market Analysis of your home or property

If you are considering selling your home and just want to get an idea of how much homes are selling for in your area, check out our no obligation easy over the internet or phone valuation: What Is My Home Worth