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What Happens if Your Home Doesn’t Sell

November 19, 2024 | Selling Your Home | By: The Goodhart Group

Selling your home is an exciting journey, filled with the anticipation of moving on to new adventures. However, what happens if you list your house and… nothing happens? There are no offers, no interest, and your property seems stuck on the market. Don’t worry—this is not an uncommon scenario, and there are several steps you can take to turn things around.

Determine Your Strategy

First, it’s essential to determine your strategy based on what is most important to you. Are you primarily motivated by maximizing profit, or is timing more critical? Perhaps other factors are at play, such as relocating for a job or downsizing. Understanding your primary motivator will guide your next steps and help you make informed decisions.


Get answers to your home-selling questions with these posts right here:


Listen to Feedback and Make Adjustments

Feedback from showings and open houses can provide valuable insights. Consider making adjustments if potential buyers mention specific concerns, such as the home feeling dark or outdated. Simple changes like repainting walls in lighter colors or adding additional lighting can solve these objections and make your home more appealing.

Price: The Silent Objection

The price is one of the most common reasons a home doesn’t sell. If your home is priced too high, it may deter potential buyers. Talk to your Realtor about conducting a comparative market analysis to see how your home stacks up against similar properties in your area. Sometimes, a price adjustment can make all the difference. Remember, price is often a silent objection. If you’ve made other adjustments and there is still no movement, price is likely an issue. 

Assess Seasonality and Market Conditions

Seasonality can play a significant role in real estate market conditions. If you’re trying to sell during a slow season, it might be worth waiting until the market picks up. Understanding the local market trends and timing your sale accordingly can increase your chances of success.


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Resetting Days on Market (DOM)

If your home has been on the market for an extended period, it might be time to reset its days on the market (DOM), especially if seasonality is involved. You can reset DOM by temporarily taking the home off the market and strategically relisting it in better market conditions. A fresh start can attract new interest and give your home a second chance to make a great first impression.

Consider an Off-Market Sale

If traditional methods aren’t working, an off-market sale can be an effective strategy. This approach involves selling your home without listing it publicly, often through a network of real estate agents and potential buyers. It can create a sense of exclusivity and urgency, attracting buyers who are looking for unique opportunities.

What are the advantages of an off-market sale? Learn more about Compass Private Exclusives right here.

The Bottom Line

If your home isn’t selling, keep hope. You can increase your chances of a successful sale by reevaluating your strategy, addressing potential objections, and considering alternative sales methods. Remember, staying flexible and open to making necessary changes is critical. With the right approach, you’ll find the right buyer and move on to your next adventure.

 

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If you’re looking to buy or sell in the DMV, we’d love to help. Contact us today! Call us directly at 703-362-3221 or email sue@thegoodhartgroup.com or allison@thegoodhartgroup.com.

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