What to do if Your St. Louis Home is Not Selling
If a house is in a choice location, well priced and in good condition, it should have caught the eye of a buyer within six weeks of being on the market. If it sits longer than that, the buyers begin to get panicked, and your agent begins pushing for a price reduction. While the seller may think that her agent just wants to make a quick sale and move on, the truth is the agent wants the seller to get her money. When your St. Louis home is not selling, going stale on the market, it loses momentum; the longer it’s out there, the higher the chances of it losing value.
If your St. Louis home is not selling, consider the following steps.
Location, Price and Condition:
While you can’t change the location of your St. Louis home, you sure can work on the other two. If your house has been on the market for more than six weeks and it’s not getting any attention, you’ll need to look at its condition and the pricing. If the condition is not great, it is better to get it off the market and make the appropriate changes such as de-cluttering and renovating the bathroom and the kitchen. After this, you can take it back on and see how the market responds.
The other option left if you are unwilling to make any changes is to reduce the price. You could have a nice and tastefully finished St. Louis home but in a neighborhood that is wrong for the design. You have little choice in this case but to reduce the asking price.
If you decide you just can’t sell the house at a reduced price, consider renting it out instead.
Be on the Same Page as Your Agent:
It is very important that you and your agent are on the same page as far as pricing goes. Otherwise, you may need to find another agent who has your back. She needs to be your ally in the process.
Listen to your agent’s insight and let her suggest what to do if the house is not getting your expected attention. Allow her to entertain the offers and follow up with other agents who represent buyers. She can help create some buzz around the home if she lets the buyers’ agents know that you are willing to discuss a price lower than the initial offering.
Pricing your St. Louis home is part art and part science. You want to set the price competitively because too low means you could leave some money on the table while too high means you might be pricing yourself out of the market altogether. If your St. Louis home is not selling, start your market analysis process over again in order to understand what you can do to put yourself (and your home) in a position to move.