The No. 1 answer to why a house won’t sell is price. For all the time and effort that goes into buying and selling, your home is only worth what a buyer is willing to pay and a seller willing to accept.
The second biggest reason a home isn’t selling is buyers having difficulty “connecting” to a house. If you don’t want to put the effort into extra cleaning and/or updating your house, including the outside, then you’d better adjust your price to compensate. Buyers will only consider your house because it’s a good deal.
“If you’ve taken the time to educate yourself on the local market and engage a professional Orange Key Realty agent, and are willing to listen to them, you can get a lot closer to the magic number. Don’t set yourself up for disaster by not doing your homework and go with what you feel your house is worth. Don’t choose an agent solely because they say they can get you more than what the other agents think the house will sell for,” states Ofir Hillel, broker/owner of Orange Key Realty. “If you make it difficult for people to see your property, then chances of a sale at the price you want drops considerably. If you don’t allow a lockbox or require appointment only showings, you are the culprit to the house not selling.” You can’t do anything about a bad location, such as being near railroad tracks, or that you have just one bathroom. But you and your agent should have factored these drawbacks into the listing price.
Michael Matthews, broker/owner of Orange Key Realty, understands. “What you want to make from selling your home means absolutely nothing to buyers or the marketplace. The solution is to get the price right. This is done by using a Competitive Market Analysis (CMA). This is the first folder out of the Orange Key Realty professional’s briefcase when you meet to list your home,” he said.
The bottom line is if the selling price is unrealistic prospective buyers will not want to deal with you. The listing languishes, so if you drop the price, but not enough, it sits longer and soon you have a listing that’s been on the market so long buyers decide there is something wrong and steer clear.
Orange Key Realty’s staff of sales professionals can be reached at either 863 Georges Road, Monmouth Junction, (732- 297-6969) serving Middlesex County, and 60 E. Main St., Freehold (732-863-6969) serving Monmouth County. Visit www.orangekeyrealty.com.