You’ve hired a real estate agent and your house is on the market. It’s priced fairly and you know your real estate agent is working hard to market the property. Still, your home isn’t selling and you’re wondering why. Maybe the market is the problem.
If the real estate market in your area has taken a downturn, there isn’t a whole lot you can do about that. Still, understanding a down market and knowing how to react to it is very important.
First things first: sit down with your real estate agent and review market conditions. Ask him or her to weigh in on the market and explain why things have gone downhill and what projections are for the months ahead.
Once you have a firm grasp on market conditions, consider your options. If the market has just cooled down moderately, can you adapt and be more competitive in the marketplace? Can you enhance the appeal of your home through Staging techniques or a price reduction? Or, can you wait things out and either take your home off the market until the market rebounds or consider alternate scenarios, such as renting your home out?
Market conditions aside, there are many other reasons why homes don’t sell. Here are some additional blog articles with food for thought:
- Why Isn’t My Home Selling? Maybe It’s the Price
- Why Isn’t My Home Selling? It Shows Poorly
- Why Isn’t My Home Selling? It’s the Real Estate Agent’s Fault
- Why Isn’t My Home Selling? Maybe It’s You
If you have questions about buying or selling homes in Guelph, please don’t hesitate to contact me.
