We Buy Houses Philadelphia

Discover How to Sell Your House Fast

I need to sell my house fast. It has been listed 6 months with no real action. I was wondering what options I have?

The above title is a recent question from a Pennsylvania Home Seller and below is their situation:

The Pennsylvania Home Seller’s current listing is almost over and they were hesitant to sign again with the same Realtor because they felt that they haven’t really done much to “try to sell” the home. The Pennsylvania Home Seller lowered the price three times and they do not need to make one cent on their home, they just need to sell their home to be closer to work.  They have had about 8 showings with their Realtor saying that there was minimal feedback. Most of which is just the home buyer saying they were not interested.

I answered:

Start with your current Realtor and ask specifically what they are doing to market the property, how is your Realtor portraying the property (pictures, descriptions, etc), and have a new CMA done. I understand your situation but home buyers don’t care about that. They’re looking for a good value. If your home is priced higher than comparable homes, then home buyers are not going to be interested. And if you put your house on the market 6 months ago, you definitely need an updated CMA.

There are three specifics that govern the sale of a house:

Price
Condition
Location

There is absolutely nothing you can do about Location; Price and Condition, however, are within a home sellers control, and you need to make sure your Realtor is being completely honest with you regarding both. Houses need to show like a model home, and need to be priced correctly.

You should be looking specifically at every house that has SOLD within the past 3-6 months within a 1 mile radius of your home (0.3 miles in a city), that is the most SIMILAR to your home (i.e., if your house is a rancher, you should only be looking at ranchers) with the same square footage, approximate acreage, etc.  Then your Realtor should explain the home price adjustments needed for the differences between the comparables and your house. Once those home price adjustments have been made, you should be very close to what the actual market value of your house is.  Next you review the condition of your property to other recently sold homes to get to your final price of your home.

It’s also possible that your house doesn’t show as well as it could. That wouldn’t directly account for the low number of showings, but it’s also possible that your house doesn’t look appealing online.  Make sure you’ve got a lot of great photos online with your listing. A lot of real estate listings have terrible photos because the rooms themselves look unattractive. I would consider staging the property (contact a home stager for a consultation), then getting a GOOD photographer in to take new pictures.

To recap: the first steps are to make sure it’s priced right in today’s market, then make sure it shows well (in person and online), and then make sure it’s aggressively marketed.
Contact me for a Report on How to Sell Your Home when it Failed to Sell the First Time! .

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August 25, 2014 - Posted by | Uncategorized | , , ,

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