Can't Sell your Home?

If you are having trouble selling your home, then ask yourself these simple questions.

What options have I tried?  What are my circumstances?  What does it look like?  How do I price my home?

Let’s start with the first question: What options have I tried?  Most people who initially put their home up for sale do it with a realtor.  There are many however that will go with a For Sale By Owner (FSBO) option.  There are pros and cons with both.  While realtors are there to help you, they are still looking to make a paycheck.  Many times they will have you put your home up for sale for an amount that is unreasonable, so nobody even comes to see your property.  The positive side of using a realtor is you can have a wider range of exposure and someone is doing the work for you.  If you choose to go with a realtor, I would encourage you to still do your homework.  Now take FSBO, this is good because you don’t have to pay a commission of 5-7% at the end of the day and you have full control of your property.  However, your exposure to buyers is reduced.  So what else can you do to advertise when you are selling your home FSBO?  Put an ad in local newspapers, put up signs around town and on your property, let everyone know you are selling your home (referrals can sometimes be the best way), use the internet (www.craigslist.org).  There are many ways to get your home sold by yourself.  You just need to be a little bit creative.

Second question: What are my circumstances?  Whether your situation is Vacancy, Facing Foreclosure, Relocated out-of-town, have Bad Tenants, Costly Repairs, Behind on the Mortgage, or simply Tired of the property and need some Cash now.  There can be many reasons you need or want to sell your home, but make sure you know what that reason is as it will help you stay focused on your goal.

Third question: What does it look like?  Is it brand new, a fixer-upper or just old and dated?  That will make a huge difference in the type of buyer you are looking for.  Fixer-uppers and the old and dated are what many investors and handyman buyers are looking for, so make sure to advertise it this way.  It doesn’t mean your home has to be falling apart; it just means it’s not new or updated.  If it is new and updated, then make sure to advertise that.

Fourth question: How do I price my home?  Pricing your home can be tricky so you need to do a little bit of research.  Depending on what your home looks like will highly depend on the price.  If it’s new then you should be able to get a higher price then if it’s older.  If it’s a fixer-upper, then you need to price it about 20% below the market value which is the price of the newer homes.  Go to your local property appraiser website and search the recent homes sold in your area.  You can also go to www.Zillow.com to see the comps in your neighborhood.  Then drive around your neighborhood and see what your neighbors are asking for their homes.  Then price yourself $5,000-10,000 lower than them.  This will help get your property sold a lot quicker.  Also take note as to how the inside looks.  Curb appeal is the first they a buyer sees which will entice them to come inside the home.  If the inside of the home doesn't look as good as the outside, then you just lost the deal.  So make sure to "stage" you home.  Do some research at the library or on the internet about staging your home.  You will be amazed how much quicker you will sell it when it's staged (and clean).