Ok, you did not sell your home this summer or fall and now it’s the Holidays and your house is still on the market, what do you do? Let’s take a multi-prong approach with some bullet points below that might help you.
- First, do you need to sell, or do you want to sell? This is a big distinction because if you need to sell (job transfer or financial difficulty) then you are going to keep your home on the market through the Holidays (I will talk more about this below). If you want to sell, then the strategy shifts to taking your home off the market and re-strategizing for the spring.
- Second, we need to look at why the home didn’t sell. Some people are just honest and said, “hey I was looking for a premium price, I knew I was too high, but I figured if someone wanted to pay that I would move.” Great, I appreciate the honesty and now that we are done testing the market let’s talk about a strategy that will sell your home for the highest price in the shortest amount of time. If it wasn’t about price, but it was about location, then again, we have a price problem. The price needs to make up for any potential location issues (i.e. busy road or power lines in the backyard, etc.). If the house simply did not show well, then let’s talk about what we need to do to make it stand out (we have a slew of vendors and contractors in our back pocket that can help). If you just hired a real estate agent that did the three P’s (Put it in the MLS, Put the sign in the yard and Pray) then you hired the wrong real estate agent. As we move away from a seller’s market to a more balanced market real estate agents with great marketing become even more important (I’ll bet our marketing is better than any other real estate agent and I’ll put my money where my mouth is). I have been doing this a long time and I find that when a house doesn’t sell it always boils down to the three things above (priced too high, doesn’t show well, hired a realtor that did no marketing). So, which of the three reasons was it? Maybe a combination of all three. We are ready to talk to you about the solution.
- Third, what to do about the Holidays, leave the house on the market or take it off? Over the years I have written about this topic many times and still, people ask this question year after year. Back in the old days we could take your house off the market for 30 days and bring it back on after the New Year and it would appear in the MLS as a new listing in January. Since so many people were gaming the system that practice has been gone for at least 5 years now and that’s not an option anymore. Here is the Readers Digest version on what to expect with the Holidays.
- Take it off because you have family in town and you don’t want to be doing showings over the Holidays. This is fine because there is not an abundance of buyers in the market from Thanksgiving to December, so you may not miss a lot of showings anyway. Right after New Year’s put the house back on the market. Around January 15th we’ll see a good bump in activity.
- Keep your home on the market over the Holidays. Yes, you can decorate your home, in fact, many buyers love walking through homes that are decorated for Christmas (provided it’s not the Griswold Family Christmas). The other important point is that if you do get a showing in December chances are they are a serious buyer. No looky-loos go house shopping in December when life is moving at a frantic pace. Only serious buyers that need to buy now are looking in December most likely because of a job transfer and they need to start January 1st. So, keeping your home on the market over the Holidays can pay off when the majority of people are taking their home off the active market.
These are just some of the tips of what to do if your home did not sell over the last few months. If you want to know more, you can contact us at email@example.com or 720-446-6325.
Dan Polimino is a Broker/Owner with the Colorado Dream House Team, Keller Williams Realty DTC. Contact the Colorado Dream House Team at 720-446-6325, firstname.lastname@example.org, coloradodreamhouse.com