Your home hasn't sold, what do you do now?
How to approach the changes you need to make to get your home sold.
If your listing has expired, you've become a very popular individual. Lots of calls and mail campaigns over the next three months can be confusing. Who should you choose?
You may still want to stay with your current agent. While many sellers decide this we recommend that they have a frank conversation with their agent about what needs to be done differently to get the home sold. Regardless of whether you decide to stay with the same agent or want to interview others the process of determining what needs to change to achieve success is the first step to getting your home SOLD.
What does your life look like if you accomplish your goal? Now what happens if you don't? If the rewards and consequences are big, you need to figure this out fast.
All homes are sold based on the same factors: Condition, Price, and Marketing. Condition and Price create VALUE in the mind of the buyer, and Marketing ensures lots of potential buyers see the home and its value compared to other homes for sale.
What kind of value was your home in the minds of potential buyers? Is it in top condition? Keep in mind there is condition you can change and the kind of condition you can't change. For example, you can put in a new bathroom sink but you can't change the busy street you live on. If you don't want to change or can't change things about your home that affect its value then you must compensate with price. The more you can do about condition (paint, staging, updated light fixtures) the less focus you need on price.
Price is the biggest factor in creating value and the easiest way to differentiate your home from the competition. Some argue that you can't under price a home. They think and underpriced home will get multiple offers and the accepted price will be higher than list price. However, when there's one buyer for every ten homes, that assumption can be dangerous. Better to take an honest look at where your price is and put yourself in the lowest third of the comps - not at the bottom unless you must sell in two weeks or less.
Marketing is the most difficult for a seller to embrace since this is the job of their agent. What kind of marketing plan do they have? What is an agent's online strategy? Do they think about the profile (or demographics) of the potential buyer and recommend appropriate advertising media to target that demographic? Without marketing, less buyers find out about your home. However marketing does nothing for a home with little value since people may come to see it but they won't buy it.
These are all areas where you can put the analytical skills of Nate Gerard to work. Having had full profit and loss responsibility for multiple advertising products at the St Paul Pioneer Press, he'll help you determine what plan to implement to be successful. Deciding what to change about the condition of your home and what price will be competitive amongst your competition will position your home to create the most value in the buyer's eyes. Add to that Nate Gerard's 18 year career in marketing to ensure you get the word out to all the buyers searching in your area.
Albert Einstein said doing the same thing and expecting different results is the definition of insanity. Using the Gerard Team to create a new plan with new energy and tactics will get your home SOLD!
Call us for a free consultation.