Why won’t my house sell? It’s a question many frustrated homeowners ask themselves. There of thousands of properties that sit on the market each year without finding a buyer so our goal is to show you how to avoid that from happening on this page.
You are going to learn exactly how to avoid owning the “house” that nobody wants to buy.
Don’t hire a Realtor…Hire A Marketer With A Real Estate License, but read this page first so you can see why!
The video at the bottom of this page will show you how to properly position and market a property for sale THE RIGHT WAY. After you watch the video you will be asking yourself, when will my house sell vs. why won’t my house sell.
Usually when a property does not sell, it’s either because of the way the property was positioned, its price, or a combination of the two. Every situation is different, but the one thing I can tell you is that it can be fixed!
Putting your house listing online does not guarantee your sale.
The success of your sale is how you are positioned online.
Your property’s online presentation is the most important component in selling your home. Your online presentation is how your home is viewed by the public. I also refer to this as “positioning”. It’s how you “position” your home online to the public that creates urgency. It’s no different than if we were selling a physical product.
Is it a good deal?
Is it in a good location?
What are the lifestyle benefits of living here?
Do the pictures tell the story?
Do you have a video?
What in your online presentation makes someone want to jump off their couch and schedule a showing today?
The best way to show you how to do this is by giving you a real live case study.Let’s see what I’m talking about…
CASE STUDY-Rogers Park
This is the classic example of a house listing that was incorrectly positioned. The seller contacted us through a referral and the first words out of his mouth was, “Mike, why won’t my house sell?”.
The property was listed for over 250 days and was located in the Rogers Park neighborhood of Chicago. This growing family really needed to move, but were stuck. Let’s visit the 3 “positioning scenarios” and see what went wrong.
Pricing Positioning-Rogers Park Example
Nobody wants to buy the house that sat on the market FOREVER. I would advise against ever letting a property sit on the market for longer than 90 days because it’s an invitation for buyers to submit a low ball offer that will make you angry. In this market, I think 30-45 days of market time is too long.
This property had a market time of over 250 days! This was the first problem. They never did one price change and let the market time taint the listing. The sellers were also locked into a listing agreement so they were stuck with their agent (I don’t lock people into listing agreements. If you don’t think I’m doing my job then I want you to fire me. If you don’t let me do my job I will to fire you!).
We knew we had to erase the previous market time so we waited about 2 weeks prior to re-listing it. We needed to give the property some breathing room so when we re-listed, it appeared NEW. We decided to list at $214,900. This was only a $5,000 price change from when it was previously listed at $219,900.
The seller was prepared to bring up to $50,000 to closing just to get rid of this house.
Once we ran the numbers and provided them with a net sheet they were able to understand that they were no where near having to bring $50,000 to closing, which allowed us to get more aggressive on price.
TIP: You always want to have a net sheet prepared for you prior to listing so you have an idea of what your true walk away price will be.
How can you negotiate without knowing what your bottom line is?
I knew $215,000 was probably on the higher end, but the seller was taking a big loss on the property so every dollar counted! We sat on the market for roughly 3 weeks. We were getting showings and even received a second showing, but no offers. I had to take into consideration the market time of the property as I did not want to accumulate too much of it. This is a large part of how they got burnt the first time.
We had a pre-planned pricing strategy done up front. I knew I could sell the property in the upper 190’s but wasn’t sure on exactly how much. After 3 weeks on the market I told the seller we had to drop just below $200,000 to reach the entire market who were limiting their search up to $200,000.
When you reposition your price like this you will reach a new audience who was not previously seeing your listing as ALL online search is typically done in $25,000-$50,000 increments.
We tested the higher price point with our marketing plan in place, but I gave the seller my honest opinion on what would happen if we remained at that price. The beauty of having an online marketing plan is that you can test everything. You can see how many views, clicks, and other measured responses a property has. You have to trust the data and adjust to it.
We don’t create the market and can only react to it, so that’s what we did.
Because we gave the seller a net sheet itemizing their closing costs that they were able to see what dollar amount they would need to bring to closing if we did lower price to $199,900 and it was no where near the $50,000 they were prepared to bring. The property sold at $198,900 in 3 days after the price change. This is pricing positioning.
Description Positioning-Rogers Park Example
I looked at some of the marketing that was being done to the property by the prior listing agent. I saw many mistakes right away and went back to the drawing board. Little mistakes make a HUGE difference.
We needed to speak to our potential buyer. I knew the buyer for this particular house was going to come from either Loyola, a red line commuter, or they would love being near the lake. It’s the same strategy big brands use to target their audience and sell their products except we are doing it for real estate.
One of the biggest mistakes agents make, is they use many of their listing remarks to describe the interior of the house, and not the benefits of living there. Your description should speak directly to lifestyle benefits of living in that property since pictures and videos can tell the story of what the inside of the property looks like. These were the remarks we used.
“PRICED TO SELL! Recent gut rehab w/all the upgrades galore steps from Lakefront,Loyola,& Redline stop around the corner.Ultra convenient location.Super bright unit feels brand new w/ exposed brick,featuring hardwood floors throughout,cherry cabs,Stainless Steel appliances, granite c-tops,3 large bedrooms and both baths completely upgraded.Nice size deck off living room for grilling & outdoor space,parking leased,storage room”
The areas in red are all lifestyle benefits of living in this unit and location. Sure enough the buyer was a “lake person” and even mentioned these remarks stood out to him. He bought the property because he walks on the lake daily. You want to make sure every bit of information is properly filled out and relayed online! That’s description positioning!
Marketing Positioning-Rogers Park Example
The best way to create exposure online is to make it look good and have both pictures and videos!
Your pictures should show off the main selling features, while your video can give potential buyers and overall flow. Taking many shots of the house can make it look much bigger and appealing online!
Here is an example of a property video we recently shot. Not only do we optimize these for search on YouTube, people love them and we have seen a direct correlation on the number of showings for properties with videos as opposed to no videos.
The previous agent’s pictures were not that bad, but there were not enough of them. This is the perfect example of how shooting one room from multiple angles can really increase the attractiveness of a property online. Check these out!
This is all the same room but it looks much bigger than the 2 shots most photographers would take.
I also targeted our ideal buyer through Facebook ads. This is an example from another Just listed Facebook ad we ran. Facebook allows you to target your exact ideal audience, which makes it very effective.
For example I place our ads in front of people who fit the criteria of the ideal property buyer. We can target people who are “likely to move” on Facebook and place our ads in front of people who are in the market.
In just under a week’s time I can create thousands of video views of your home. This is important to do once a property is just listed and to focus around an open house to create urgency.
In addition to this we followed the typical online marketing plan you will see in the video below.
Let’s talk marketing now. I recorded a screencast below so that you can get an idea of how to implement a REAL marketing plan behind selling your house.
Watch it now!
“How To Avoid Being The House That Nobody Bought And Become The House That Buyers Are Afraid To Miss Out On”
I decided to include some more real estate tips for you. Enjoy!
Top Seller Tips You Should Know Before You List Your House For Sale.
There are going to be random questions that you will think about when selling your home. Each of these are in depth articles I wrote to answer future questions you will have. Make sure you read through all of these. You are getting a P.H.D. in how to sell a house!
Here’s what I want you to do next…
First, I want you to eliminate the question, why won’t my house sell, from your vocabulary.
Next, I want you to fill out the form below and let me know a good time to contact you.
I will diagnose your situation and let you know if I can help you or not. Here’s the way I work:
- I don’t lock sellers into listing agreements. If you don’t feel I’m doing a good job then fire me. If you are not letting me do my job, I’m going to fire you. It has to be a 2 way street.
- I WILL NOT take on your listing if I don’t think I can sell it for you. I will give you an honest valuation and let you know what price it will take to sell your house. Not selling your house actually hurts our business, not improve it. We want your business, but more importantly we want to perform. We put so much time and energy into marketing your house that if it does not sell we LOSE MONEY. Oh yea, we don’t nickel and dime you over marketing charges like so many other offices. We put our money where out mouth is. Our marketing plan entails much more than just listing it on the MLS and putting a sign in the yard.
- I promise you nothing but honesty. We run our business pretty direct. We are not after your sale, we are after your relationship. If we cannot perform I will be the first to tell you because beating around the bush is not worth it.