If your listing expires and your house doesn’t sell, it’s natural to feel frustrated and disappointed. As you work through that, you’re probably also wondering what went wrong and what you should do next.
If you still need to move and want to get it back on the market, here are some things to consider as you look back.
Was It Priced for Today’s Market?
Setting the right price from the start is critical. While it might be tempting to try shooting high with your price, that can quickly slow down the selling process. If your house was priced higher than others similar to it, it may have turned away buyers. And that’s likely why it sat on the market. As Rocket Mortgage explains:
“Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . . If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing. . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment. Your home’s true value is whatever a buyer is willing to pay for it.”
Was It Easy for Buyers To Tour?
One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Even though it might feel stressful to drop everything and leave when buyers want to see your house, being flexible with your schedule is essential. After all, minimal access means minimal exposure to buyers. ShowingTime advises:
“. . . do your best to be as flexible as possible when granting access to your house for showings.”
Was It Set Up To Make the Best Impression on Buyers?
If buyers aren’t interested in your house, it’s worth taking another look at it through their eyes. Are there outstanding repairs that may be distracting them? Even if it’s small, some buyers may see it as a sign that the home’s maintenance is falling behind.
Just remember, you don’t always need to make significant upgrades. Selective minor repairs or touch-ups go a long way. Things like tidying up your landscaping, a fresh coat of paint inside, or removing personal items and clutter can work wonders in sprucing up the house for potential buyers. You could also consider staging the home.
Were You Willing To Negotiate?
If offers were coming in, but you weren’t ready to negotiate, that may be another reason it didn’t sell. While you want top dollar for your house, you must also be realistic about what your house can net in today’s market. The market is still tipped in a seller’s favor, but the supply of homes for sale is growing, and buyers feel the sting of higher mortgage rates. So, being willing to play ball can make closing a deal much more accessible. A skilled agent can help. As Ramsey Solutions explains:
“If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. . . An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top.”
Did You Listen To Your Agent?
If your expert’s expert’s advice didn’t sell, rely on a trusted real estate agent. Is that the agent you used previously, or is it new? Once the listing has officially expired, a great agent will sit down and take the time to talk it over. They’ll want to hear your honest opinion on what worked and didn’t and where you want to go.
Then, they’ll offer their perspective. This includes tailored advice and effective strategies for re-listing your house to get it sold. As Better Homes & Gardens says, an agent should be your go-to resource in this situation:
“If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”
Bottom Line
Feeling disappointed when your listing expires and you don’t sell is natural. Connect with a reliable real estate agent to determine what happened and what changes you should make to get your home back on the market.
