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What to Do When Your House Isn't Selling

A number of marketplace factors sometimes make it difficult to sell your property. But here's the kicker - the longer it sits, the harder it becomes to strike a beneficial deal. So, if your home is sitting, don't wait too long to make a decision. Here are some tips that'll help get things moving:

Listen to Feedback: Ask your agent to gather feedback from colleagues who have shown your home. If location comes up as an objection, you may have to reduce your price. But if it’s your home's appearance that people are balking at, make the fixes you can, like cleaning your basement or painting the interior.

Reduce Your Price: This choice is obvious. If the market slows after you list your home, the comparable home sales used to set your original price may be too high. Consider dropping your asking price by as much as 10 percent; that's a strong indication to agents that you are a motivated seller. If after another four to six weeks buyers still don’t show much interest, it is time to cut your price again.

Change Agents: If your listing contract is set to expire, evaluate your agent's performance in light of your market’s current conditions. An agent who has demonstrated strong knowledge about you, your property, and your neighborhood is likely worth keeping, especially if he or she has good suggestions to improve your situation. But an ineffective agent who clearly has inflated your list price to get your business probably isn’t worth doing business with.

Take Your House Off the Market: This is always a tough decision. But, if you aren't rushed to sell, withdraw from the market before your home is stigmatized by a no-sale.

 
 
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