Welcome to our latest series, “You’ve Got Questions, We’ve Got Answers.” The question we’re answering today is this: “My house was on the market before. It didn’t sell. What should I do?”
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Hire us. Seriously. If your home was on the market and didn’t sell, there are several possible causes. The most likely is that you hired the wrong agent, hired the wrong company, or the price wasn’t right.
If you want to avoid the same mistake, you need to correct those mistakes. To price your home correctly, you’ll need to work with an agent who knows what they’re doing and is backed by a company that supports them. They will also need to be aware of where the market is at and where it’s headed in the future. Very rarely does a market remain at equilibrium for an extended period of time.
Recently, interest rates have gone up. When that happens, the number of buyers goes down and so do the prices of homes. It also causes homes not to sell.
When the market goes down, so should your asking price. The gap between your home’s price and where the market is at needs to be minimal. Pricing at market value should allow you to get a buyer within 30 days. If that doesn’t turn out to be the case, you seriously need to reconsider your options. You have to react to the market, the market is not going to react to you.
If you have any questions for us or want to know exactly what your home is worth in this current market, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.