Vail Daily column: Home hasn’t sold after a year
Ask a Realtor
We have had our home listed for sale for a year with the same Realtor and it has not sold. We have had a few showings and no offers. We still very much want to sell and our Realtor is asking us to renew the listing for at least another six months.
Needless to say, we are disappointed, but we are not sure that it is the Realtor’s fault that it has not sold. He has told us many reasons why it has not sold and now he wants us to do a third price reduction.
In the meantime, another Realtor has been calling us wanting to come over and talk to us about listing with her. I am confused and unsure what the right direction is. What is the best way to approach this situation?
Dear Still for Sale,
Your question is very important and not unusual. There are a lot of moving parts to selling a home. Since location, price and condition are the main factors, I think you should first meet with your current Realtor and go over all of your questions.
Ask what is happening in sales in your neighborhood. Has your area been having more sales and stronger prices, or are sales starting to slow down just a little bit? What are the positive aspects of your location in the neighborhood and what are the negatives?
Did your Realtor want to list at a lower price for the market condition a year ago and you have been chasing the market down by making your price reductions too late? Are homes around you selling and there is some reason that yours is not in the mix? Is your home in top condition? Does it look good from the outside? Are there a few things you could do to make it much more desirable? Have you or your Realtor done any staging?
Have a frank discussion with your Realtor about what he or she thinks is the main reason you are still on the market. Ask for the truth, without any sugar coating. Hopefully you will find some good reasons and more importantly, solutions about what to do.
Then you will need to evaluate what your Realtor has said and done to promote the sale of your home. One of the best ways to do this would be to meet with the Realtor who has taken the time and effort to call you about selling your home. I believe it never hurts to get another opinion.
Meeting with the Realtor who has been calling might simply show you that your Realtor is more knowledgeable and actually doing a great job, or you might see that there might be a fresh approach that could be used to get your home sold.
Selling your home is an important event in your financial portfolio and a second opinion on value and process is almost always a good idea. Good luck to you!
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Harned has been selling real estate in Eagle County for 27 years, is a past chairman of the Vail Board of Realtors, past Realtor of the Year, past director on the Great Outdoors Colorado Board and a member of the Luxury and Land Institutes. Contact Harned with your real estate questions at Joan@TeamBlackBear.com, 970-337-7777 and http://www.SkiAndTeeHomes.com.