Why Didn't my House Sell?

Why Didn't my House Sell?

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We never got out of the gate

Everyone thinks every sale of a home is a one size fits all process.  This is simply not true.  Your home calls for a specific sales and marketing plan to suit the ideal buyer, therefore the road is not always straight and narrow (as depicted in the SUCCESS diagram to the left.  I an going to hit the first five pitfalls in this section.

The sale of your home begins with a fixed set of activities but really it is a portal for information.  You can have an expectation about the offering, however, it is the A) Market that will inevitably deliver  revealing information that will guide your moves.  B) It is your reaction to this information and C) guidance from your realtor to D) deliver what the buyer wants.  The next step is to generate a E)contract which will ultimately lead to a F) closed sale.  You cannot get from point A to point F without B, C, D, and E!

Usually, the cookie cutter marketing plan is created and often the basics get left out.  Someone will tell you what you want to hear, overprice your listing and eliminate follow up and/or not have the assertiveness or experience to tell you what you need to know.  You'll continue in an uninformed fashion and leave it on the market too long without responding to the obvious messages that are being sent by buyers and it will turn out to be the biggest waste of time.  I'm not trying to be pessimistic, and not placing blame, you actually hired a professional to handle it for you who will take you (the bull) by the horns and tell you what to do.  You might kick, and scream all the way through but you'll thank me later.

Pitfall ONE: Do you really want to Move?

and Do you have a place to Go?  What are your motivations?  Getting X price is not what makes a person move.  The need to move is what makes a house sell.  The need to buy is what makes a buyer buy.  These two dynamics of need lead to a closed sale.  Anything in between is just make believe. 

Pitfalls TWO, THREE and FOUR: Preparation for Sale, Pricing and Accountability

This is not rocket science, I am going to hit two of these at once! The listing process deals with competitive analysis and preparation for sale.  If you do not research and price your house at a number that beats the competition and if you are too headstrong about price because you think buyers are stupid you will not succeed.  In this case both you and your agent are accountable.  You must also prepare the home to perfection so that it creates a positive buying experience.  Along with your REALTOR you must price properly and/or modify with information that you get along the way during the showing process and your realtor must advise, collect information, and communicate it back to you.  This process should cause you to take action which may modify your initial offering but will lead to the outcome you desire.  This is where the twisted part of the line comes in. Again, success is not a straight line!

Pitfall FOUR: You get too cocky in the early part of the process

Through no fault of your own you will get cocky because your house will get a ton of attention when it is first listed (days 1-14).  You may even get a few offers right off the bat.  If someone doesn't explain that the first 14 days of the listing are usually days of reckoning, you are going to miss the boat...  Now I am not telling you to take a lowball offer, but treat every offer that comes to the table in those first two weeks as if they were the last because they very well could be.  Three-six months down the road you will be kicking yourself for not taking the deal.  You will tell yourself you really didn't want to sell or move and you are probably right (this should have been step one - a decision that you make before you move forward. 

Pitfall FIVE:  You did not qualify your buyer

On the opposite side f the spectrum you could get a full priced offer from someone who has no clue about what's going on and who is represented by a lender and perhaps agent who is equally clueless.  Today's lending process calls for specific requirements depending upon the buyer's situation and your agent must be the one to contact the lender to see what hoops the buyer has already jumped through and must jump through to ensure a successful close. Some of the appropriate questions include (Do you have to sell your home?  Are you self employed? Are you the only one on the note? Are you buying because you are waiting for a bonus, gift from another party?  Are you relocating?  When does your Lease Expire?  The list goes on,  Better to know the up front details than to find them out down the road. 





Contact Information

Photo of Lisa Marie Contaldi Real Estate
Lisa Marie Contaldi
Intero Real Estate Services
1122 Colorado Street #320
Austin TX 78701
Fax: 512-852-4481

Consulting Buyers and Sellers over 26 years! Learn About What Your Home is worth today!  www.GreaterAustinHomeValues.com!