What To Do When Your House Doesn’t Sell!

Do You Have A Home That Isn’t Selling?

What To Do When Your House Doesn’t Sell!  

After 19 years as a practicing Realtor®/Investor in the Tucson area, I’ve discovered that not all homes are created equally! Naturally, every person thinks their home is going to sell the first time on the Tucson MLS (*Multiple Listing Service), yet the shocking reality is that less than half of the homes that go on the Tucson MLS sell within the first 30 days.

So what does one do when you need to sell your Tucson home fast, and yet do not have the time to wait the 90 days or so it takes for a home to sell in Tucson?

In this article, I will share a few hard won ideas that I have learned both as a Real Estate Broker, as well as Investor here in Tucson, Arizona.

Price It Right…

If you want to ensure your home will never sell, then overprice it!  Sad but true, if the home isn’t priced properly, it won’t sell quickly! If your home isn’t selling, then it is almost a guarantee that the price is too high!

Now, I deliberately started with this most obvious of points.  I say it not to be cruel, but to be as honest as possible with you! No matter how “nice” the flooring is, or how “colorful” the painting is of the home, it is of virtually no matter.  In the cold hard world of pricing real estate for a quick sale, any real estate investor worth their salt will not purchase a home that is overpriced!

There are a variety of methods to determine if your home is overpriced, including pulling “comparables” from your local Realtor®, as well as obtaining an appraisal.  However, one surefire way to determine if your “on market” property is priced correctly is to observe how many offers you are receiving!

If your home is currently listed on the Multiple Listing Service, and being fully marketed to a willing, ready and able buying public, then you should be able to obtain valid written offers on your home within a 30 day period.

A easy way to gauge the effectiveness of your pricing is to compare your results to the following metric.

  1. If your home has been on the market for 30 days, with no offers, and few showings, you are at least 10% overpriced.
  2. If your home has been on the market for 30 days, with some offers, or lowball offers, with many showings, you are approximately 5% overpriced.

Needless to say, you wouldn’t pay more than something is worth.  No matter if it is a house, or a carton of milk.  When selling your Tucson home fast, you must price it right!

Make Pro-Active Offers!

Have a person who just “loves, Loves, LOVES!!!” your home, but is afraid to commit to making an offer?  Be proactive and make the offer to the Buyer!

Here’s what I mean,  no matter if you are a FSBO (For Sale By Owner), or listed with a Realtor®, make an offer to any buyer who sees your home multiple times in a short period of time (say a day or three!)

Believe it or not, not every agent will necessarily think of making an offer from YOU the SELLER to the Buyer!  Yet this technique will work to “start the conversation”to see if you can come to some sort of mutual agreement on price and terms!

Here’s why this works.  If a Buyer has seen your property multiple times in a short period of time, then there is clearly SOME interest!  It’s just sometimes they are hesitant to make an offer, or their agent may not know how to effectively close them.  Either way, they need a house, and YOU need a Buyer!

What To Do When Your Home Doesn't Sell

What To Do When Your Home Doesn’t Sell

Make offers pro-actively to the Buyer so that you may at least begin the conversation on your terms.

Get An Offer From A Realtor®/Investor Like Me!

One of the advantages of having an Investor who is also an agent make an offer on your home is that you can save commission! Unlike some of those “Bait and Switch” sites, I don’t solicit you for a listing! When you deal with a Realtor®/Investor like me, you get a offer on your home fast!

Not only do I waive the commission, but I purchase your home in its “As-Is, Where-Is” condition!  If avoiding the hassle of having to do repairs is important to you, then selling your home to me is a great idea!

Unlike a traditional buyer, I pay all your normal closing costs.  Escrow fees, any Realtor® fees you may have (if your property is listed) and inspection fees (septic and the like) are all paid for by me at closing!  This way you can rest assured that any number we agree to in an offer will be the net bottom line you will receive (minus any Taxes or HOA Fees that are due!*)

Finally, when dealing with a Realtor®/Investor like me, you will be able to pick your closing date!  A helpful feature when you need to leave town or are moving to another residence!

What To Do When Your Home Doesn’t Sell In Tucson

There are options to sell your home fast in Tucson.  Don’t be one of those unlucky homeowners who runs out of time!  By pricing your property to sell from the beginning, making proactive offers and contacting a Realtor® who Invests you will have plenty of options to make sure you win!

If you have found yourself at this site running out of time, don’t panic!  Many times, there are alternatives to losing your home, or being in a disadvantageous position!

If you need to sell your home fast in the Tucson area, feel free to call me directly at (520) 403-6227 or click here to tell me about your property!

 

 

 

About Karl Krentzel

Karl Krentzel is an Investor with over 20 years experience in the Tucson area.

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