Your Home Hasn’t Sold: Three Reasons Why You Priced It Too High

If you’ve listed your home on the market and it hasn’t sold, the most likely reason is the PRICE. Here are some of the TOP THREE reasons home sellers list their home for too high of a price:

Bad Comps: What comparable properties are you looking at that gives you your opinion of value? Any? Were you guessing? Or looking at data gathering sites like Zillow or Redfin? Home values on those site are not actual comps; they’re digital marketing tools meant to get your data. A good agent can identify the intangible traits of a home that software cannot. This is a big reason web based home valuation models fail to come up with the correct value for your home.

Not Understanding Your Market: What is your understanding of the current market, and where did you get your information from? Was it cable news? Someone on TV? Comments on a social media post? A random influencer? Market conditions are extremely local, and can differ neighborhood to neighborhood.

Realtor Disinformation: When you interviewed Real Estate agents, did you go with the one who promised the highest numbers? Think back. Did your real estate agent simply quote a higher sales price to win you over? Did they simply “outbid” the others. You don’t want an agent who just tells you hat you want to hear. You want to work with an agent who tells your the truth!