Your home hasn’t sold.  It’s now an “expired listing.” It may have been one of the best houses on the market.  People came by, expressed interest, yet ended up buying another home.  It doesn’t seem to make a lot of sense.  What happened?

1.        Logic vs. Emotion

Although there are many reasons why a buyer may choose one house over another, the decision often is influenced by emotions over logic. Did the house feel like “home?”  Was the neighborhood comfortable?  Looking for the logic behind a buyer’s decision can be frustrating and stressful.

2.        Strong Competition

Buyers look at the big picture.  Typically, buyers view every house that is for sale within a several mile radius.  It is likely you did the same thing when you purchased your house.  If there were several houses available at the same time as yours, your home had to stand out by comparison.  If it didn’t, buyers chose a better value.

3.       Unavailable for Showings

Buyers rarely buy what they can’t see.  If your house wasn’t available for easy showing at most times of the day and most days of the week, it is likely that the person who would have bought your home didn’t even see it.  Let your Realtor install a lockbox and make the house available to be seen as often as possible.

4.       Inadequate Marketing

For the greatest chance of success, every buyer in the market, in your price range, should be aware that your house is for sale.  The most important way for this to happen is listing it with a Realtor who has access to the Multiple Listing Service (MLS).  Secondly, an aggressive Internet marketing campaign is critical since 94% of buyers use the Internet for their home search.

5.       Lack of Showing Etiquette

For a buyer to make an offer, he/she must feel comfortable in the house.  This is very difficult if the seller is hovering around them, the family pet is barking, and the TV is blaring.  Buyers need to be relaxed and unhurried to picture their family living in the house.  Let the Realtor show the home while you, and your pets, go for a drive.

6.       Inaccurate Pricing

 Ultimately, the reason your home didn’t sell was because buyers felt that another home offered more value than yours did.  An accurate price motivates buyers to make offers.   It builds excitement, even if other factors aren’t perfect.  Pricing your home accurately is the single most important thing you can do to get your home sold.