And now for the third in our series: Why Didn’t My House Sell?”
You might have found this post because your home was on the market in Colorado Springs for several months and didn’t sell. Naturally, you want to know WHY. You are far from alone.
Many homes in Colorado Springs don’t sell with their first listing agent. And many of those homeowners call us when that listing expires, so we’re kind of experts on answering this question by now.
This post is a little different. This reason is the one thing that you, as the seller, do not control. Price and condition are totally within your grasp. This third reason is NOT.
What is it?
Reason #3: The REAL ESTATE AGENT and the MARKETING
Yes, you picked your listing agent, but you don’t really control what they do (or did). The only control you have for this factor in why you home didn’t sell is to make sure you hire a competent real estate agent in Colorado Springs that will market your home effectively.
Unfortunately, you may have learned this lesson the hard way. Some homeowners don’t really research the first agent they select. There are plenty of decent real estate agents in Colorado Springs. There are many that are good. And there are maybe a handful that are really excellent, those that treat real estate as a career and do their best to excel for themselves and their clients. Even then, you may have hired an excellent real estate agent who may not have been a great fit for your house or neighborhood. Finding the right agent in Colorado Springs isn’t as easy as you might think.
This is not a decision to leave to chance. This is not the time to humor your relative who is new to the business. Selling your home is a big event, and it requires serious selection of an excellent agent.
Not only should a good real estate agent truly understand the Colorado Springs housing market, they also need to know the market immediately around your home, understand the current mortgage market, and – more than anything – know the value of effective marketing.
Not every real estate agent really has what it takes to sell a home in Colorado Springs.
Sad but true.
In addition, a real estate agent should also be a fit for you on a personal level. Sometimes, personalities and people clash, and that’s okay. Sometimes, you may not realize that until you’re several months into a listing contract. As an agent in Colorado Springs, I can tell you that there are times I know I’m not the right agent for a particular seller. In some cases, I know I should refer that person to an agent they will work better with. YOU want to be a happy seller, we want to be HAPPY agents. Sometimes, that means we aren’t perfect for each other. And that’s okay!
Beyond housing market knowledge, marketing knowledge is king (or queen!).
Your Colorado Springs real estate agent MUST undertand effective marketing. Your home needs to be exposed to as many agents and home buyers in Colorado Springs and in your neighborhood as possible. A competent real estate agent will know how to do that.
Local MLS (Multiple Listing System)
Just as sellers are represented by agents, so are home buyers. This means it is important to market to AGENTS as well as BUYERS. The best, most effective way to do this is via the MLS. If your MLS listing only had a handful of pictures, if it had a “meh” description, if the data was incorrect, then chances are your home was skipped over countless times by buyer’s agents.
There’s far too many homes on the market. If the home doesn’t look like a winner in the MLS, the agent won’t even bother to tell buyers about it.
Online Internet Marketing
Around 80% of home buyers start their search online. When a buyer is searching for a home in Colorado Springs, you can bet they’re starting with Google.
They’re online looking at homes, and not just on one website. They’re on a dozen websites, on as many sites as possible. You need to be where they are – online everywhere. We advertise our listings on over 50 sites nationally, and on HUNDREDS of sites with a local focus.
How can you tell if MARKETING was the reason your home didn’t sell?
Look at the print out from the last listing from the MLS. Were there more than 10 photos? Did they look nice? Were they well-lit and highlighted all the great features? Did the remarks sound boring or did they call out the great parts of your home? If you’re disappointed in what you see, marketing may have been the problem.
Also, take a moment to Google your address. If the marketing was effective, you should find your home on a bunch of different sites, on the first page of Google.
Not there? It was probably not marketed well.
But honestly, poor marketing alone is generally not the ONLY reason the house didn’t sell. It can be a big reason, but coupled with price, ineffective marketing is likely to leave you disappointed – and with an expired listing.
If your house has been on the market and didn’t sell, make sure your next agent has a comprehensive marketing plan to get your Colorado Springs home SOLD. Investing time in finding an excellent agent that is a good fit for YOU is time well spent.