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This year, the housing market has shown signs of slow, somewhat steady progress. Existing home sales continue to improve and home prices are up, according to the National Association of Realtors.
There’s still room for improvement though, and there are plenty of homeowners still waiting—and waiting—for their homes to sell. If you’re one of those long-suffering homeowners, don’t be too quick to blame the housing market. There are plenty of reasons that houses don’t sell, and you could end up waiting even longer if you don’t dig deep to find out why.
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Separate Emotion From Your Asking Price
Mispricing your home is one of the easiest real estate mistakes to make. As the owner, it’s difficult to separate your emotions from the facts about your home’s worth. Or, you may have priced your home based on the amount you need to pay off the mortgage and walk away with a good down payment on a new home. That’s not a good strategy either.
Simply put, your home is worth what someone will pay for it. The best way to get an idea about that number is to compare recent sales prices of homes like yours in your area. A real estate agent can do that research by doing a comparative market analysis (CMA). A CMA will help you set a price that will bring in buyers.
Get Rid of Your Lousy Agent?
If your home is priced right and staged well but still isn’t getting showings or offers, you need to consider that maybe your real estate agent is the problem. The top 10–15% of real estate agents handle the majority of home sales in any given area. That means you need the best working for you.
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Look at it this way. You’re hiring your real estate agent as a marketing consultant with one objective: to get your home sold. You’ll be paying your agent thousands of dollars, so make sure they are worth the money.
You want a full-time, high-quality, high-octane real estate professional who sells a large number of homes in your area each year. If your agent doesn’t measure up, find one who does right away.
Find a Great Agent Today
Dave’s real estate Endorsed Local Providers (ELPs) are experienced professionals Dave trusts to give you the best service and advice for buying or selling your home. Check out how many homes Dave’s ELPs have sold in your area this year, and find your ELP today!