The Reason Why Your Home Isn’t Selling

The Reason Why Your Home Isn’t Selling

selling tips Jul 01, 2020


Still waiting for an offer?

Is your listing sitting days on end on the market without a single offer? Odds are, there’s nothing wrong with your home! It’s most likely a matter of price.

Here’s a quick tip I live by:

  • If you are receiving no showings and no offers, you’re roughly 10% above market value.
  • If you’re receiving tons of showings, and are waiting around for an offer, you’re likely 5% over market value.

Take a look at the MLS and see where your listing falls in relation to other properties according to price.

Is your home comparable? Is yours as nice? As big? As updated? As “showing ready”? Does it merit that price tag?

You want your listing to show first on the MLS. Always. 


How it works.

For example, if someone is searching for a home under $400K, 4 bed, 3 ba, w/ .25 acre, and there’s already a home on the market in the same neighborhood with that exact criteria, then you’d want to price your home slightly under.

Even if it’s only by $500 - your listing will show first on the list, making it more desirable and easier to sell. Money talks! 

Now, if you notice your listing is well above market value, it’s time to re-evaluate a few things. 

We know after re-evaluating that:

  1. Your listing does not belong in the price bracket you’ve originally listed it at
  2. It’s time for a price adjustment

Also, I tell clients all the time, “If I’ve missed the price by 10%, you should fire me.” A 10% margin is a considerable difference, especially when you get into upwards of million-dollar listings - that’s $100,000 you’ve messed up on!

Something as simple as a price adjustment can take a stagnant home of 180 DOM to being under contract within a matter of minutes.



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