Why Did A Similar House Sell But Mine Hasn't?

Why Did A Similar House Sell But not Mine?



So in a Facebook post last week I asked you all to send me a question or two that you have been burning to ask someone in the real estate industry. I had a ton of responses but one stood out from all the rest. Here it is... "Why did a home almost exactly like mine sell but my house has barely gotten any showings?" WOW! What a great question, so I'm going to deviate from my usual blog posts and try to answer this one. Just a note though, probably not every agent will agree with me on what I'm about to say but here is my honest and humble opinion on the subject....
So, really there are 4 factors that come into play when we talk about selling a house. These factors are the same regardless of what kind of market we are in. Those factors are Location, Condition, Price, and Exposure. Some of these we have control of and some we do not so let's dive in!
#1. Location - We have zero control of the location of our house. No matter how hard we may try, we simply cannot change the location of our house. Side Note: This is why it is so critical to be smart when buying your house in the first place.
#2. Condition - This is the condition of your house. You do have a lot of control over this. You would be amazed at the difference a new coat of paint, some fresh flowers, and a bit of decluttering can make. 
#3. Price - Price goes a long way in determining how quick your house may sell. Ultimately the market sets what your house will sell for. The control we have here is ensure we price the house correctly. If your house is overpriced it will sit for longer. Priced too low and it will sell fast but you potentially could be losing out on thousands of dollars. It is very important to ensure you are pricing your house according to what the market is saying. Pricing right will allow for your house to sell quickly and you will ultimately get the most for your house as well.
#4. Best for last - Exposure - This is probably the most important piece to the puzzle. when your house is for sale you want to get it out in front of as many people as possible. You also want it targeted at the people that are most likely to buy your house. Now, I cannot speak for other agents nor can I tell you exactly what they do or do not do. However, I can ensure you that I spend thousands of dollars on advertising for every one of the houses I list to sell. If two houses are equal in Location, Condition, and Price then the one with the most Exposure will sell faster every single time.
So to answer the question "Why did a similar house sell but mine hasn't? Well, it isn't always straight forward but in general, a lot of it has to do with exposure. In today's world we, as Realtors, have really evolved into Marketing/Advertising agents. With the proliferation of the internet, most consumers do a lot of research and house hunting themselves on sites like Zillow. This is why I, as a REALTOR®, spend so much on advertising.

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