Why isn't my Home at the Pier Selling?
Why isn't my Home at the Pier Selling? Is a question that is asked quite a lot. Traditionally there are three reasons why homes don't sell.
- 1. Over Priced-A home that is overpriced at any given time won't sell. A strategy that is often used is to price a home high when it is first listed to "test the water" with the idea of simply dropping the price after a certain amount of time has passed. This strategy can have a very negative impact on the listing as it can become stale (this is bad). New listings oftensell easily because people are excited about them; no one is excited about stale listings.
- 2. Under Exposed-A home that no one knows about can't be sold...while in reality it isn't that simple this is a huge reason why many great homes sit for a long time without selling. In today's market your home needs to more then just listed on MLS and in the local paper to generate a successful sale. These "traditional" ways of marketing your home are still an important part of the process, but the process has evolved. In Canada 85% of buyers look on the internet before they ever talk to a Realtor of go see and Open House. From craigslist and Kijijito personal websites and specialized websitesBuyershave hundreds of options, your home needs to be on as many of those options as possible. Open Houses are another traditional way of marketing-that works as are "Just Listed" cards and flyers.
- 3. Un-Motivated-This is the rarest reason a home doesn't sell but it still a huge factor in our market. Some owners who put their home on the market don't really want to sell. They have outlandish expectations and are uncooperative.This can happen for different reasons but is often difficultfor anyone buy the seller to remedy.
The competition in the Pier is tough right now. There are currently 83 MLS listings in the development plus a number of assignments. When it comes time to sell your home and you are sitting down with Realtors ask them how they plan to expose your home to the most potential Buyers possible. If you don't like their answer-move on to the next Realtor.