When selling your home in this current YYC market, you may have noticed offers aren’t pouring in right away. While we may look for all the answers as to why… it always boils down to price. The main reason your home isn’t selling is it’s priced too high!
Let me explain…
Below are a couple of assumptions commonly used to justify why your home isn’t selling.
The location isn’t great.
Location, location, location! That’s what we’re all told matters most about real estate. And while this is true…if your home isn’t in a great location and your home isn’t selling. Bottom line is it’s priced too high and the market is telling you to lower the price.
The home is in bad condition.
Often that is the case. If you look around at some of the properties on the market right now, you’ll find a lot of “fixer uppers”. This is just a nice way of saying get ready to roll up your sleeves & expect to drop a bunch of money to get it up to snuff.
If your home is a fixer upper & it’s not selling, you’ve priced it too high.
It’s a slow time of the year.
Spring & summer is the usual the time of the year where most buyers are out looking to purchase a home, but properties are sold in every season so…if your home isn’t selling, there is one way to get it sold…believe what the market is telling you & lower the list price!
My YYC agent isn’t doing enough to get it sold.
While this may or may not be the case, let’s be real. In 2019, the majority of YYC marketing is done with MLS data in Calgary real estate brokerages & with third-party sites, such as CINC & Zillow.
While you may have an agent more interested in posting cute Instagram photos than talking to potential buyers for your home, today’s agents are relying on the market to dictate the price. The truth is …the internet is marketing your home.
So…regardless where your home is located or what market your in or what season it is or what shape your property might be in…the main reason your house isn’t getting offers is it’s priced above the current market price.
So…if you need to get it SOLD…you may want to consider a price drop. Or…to be politically correct…a “price improvement”.
After all…you want to look smart not desperate!
The facts are…this is a really simple concept. Price is the only reason your home isn’t selling.
So, if you really want to get it sold and you aren’t getting offers… That’s right, lower the list price!
If you or someone you know is in need of information regarding pricing… contact the YYC Real Estate Club for more info…
Keni-Lynn Bouvier is a licensed realtor with Royal LePage Mission & a certified Stager who is part of the YYC Real Estate Club…
she can be reached at 403-200-7077