Did you just expire? Uh oh, another one bites the dust!
Did the contract you signed with the local real estate brokerage come to an end without the desired result - new owners? Did you even get an offer? The National Association of REALTORS says that, in general, homes that are priced correctly will receive an offer after approximately 10 showings.
Oh my! You have been rejected by the market. You failed. How does that make you feel?
Dejected?
Angry?
Resentful?
Surprised?
Depressed?
It's sorta like taking your car in for an inspection and getting that red sticker slapped on the windshield that says REJECTED! Ugh, what a feeling.
Or is your attitude more laissez-faire..."well, we are willing to sell if we get our price but otherwise we'll just sit tight."
If that is your approach, this is NOT for you.
But if you are truly interested in selling your home, here's a reality check.
What went wrong? Do you know?
- Was your home in showing condition? And ready for the first open house...on-line? With great photos and a virtual tour? Or does the curb appeal bite? And is there a lot of clutter? And deferred maintenance that anyone with half a brain can see?
- Did you make it easy for buyers and their agents to see the property with a flexible schedule and a lockbox? Or did they have to jump through a bunch of hoops just to visit your property?
- Did your agent provide a written marketing plan of both on-line and off-line activities to maximize your homes exposure? Or was it not clear how your home would be advertised to the potential pool of buyers.
- Were there plenty of showings but no one stepped up to the plate with an offer for you to consider? Or did you get one and reject it, hoping to get more?
- In all likelihood, it was the price. Did you pick a number out of a hat? Talk to your neighbors? Choose the price based on what you need to get in order to buy that move-up property you covet? Listen to an agent who promised they could get you the price you wanted? Or did you ignore the pricing information on the current market your agent provided and aim for a higher dollar amount to provide wiggle room?
You need to look at the situation from a buyer's perspective, NOT the seller's perspective.
There is a lot on the market in many areas to consider - detached homes, condos, new constructions - that meet the general requirements of many buyers. So you have a lot of competition. Unless a buyer has a rush need to buy, they are looking at all their options, which may include homes that are not necessarily comparable to yours. Buyers want a good deal, and to feel they are not overpaying.
Your overpriced house makes the other homes look like a better value - and that's what it's all about, the value, not what you believe it's worth. Hard news to hear, but the reality. The longer your home sits around, the staler it becomes. And more buyers will wonder what's wrong with it, or why it hasn't sold.
You can't change the fact that your home was rejected by today's market. But you can make the decision to position the property correctly in the selling market going forward.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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