Next Steps if Your Property Remains Unsold

If your listing expired and your house didn’t sell, it's completely normal to feel frustrated and disappointed. While dealing with those emotions, you’re likely also questioning what went wrong and what steps you should take next.

If you still need to move and want to relist your home, here are some factors to consider as you reflect on the process.

Was It Priced for Today’s Market?

Setting the right price from the beginning is crucial. While it might be tempting to list your home at a higher price, doing so can significantly slow down the selling process. If your house was priced higher than comparable properties, it may have deterred potential buyers, causing it to remain on the market. As Rocket Mortgage explains:

"Buyer interest in your home peaks when it first hits the market. That’s why it’s crucial to set the right price from day one. If you overprice your house, buyers might simply pass it by without even scheduling a showing. It's easy to think your home is worth more due to sentimental value, but remember that its true worth is what a buyer is willing to pay."

Was It Easy for Buyers To Tour?

One of the biggest mistakes you can make when selling your house is overly restricting the days and times potential buyers can tour it. While it may feel stressful to adjust your schedule for showings, being flexible is crucial. Limited access results in limited exposure to buyers. ShowingTime advises:

"Try to be as flexible as possible when allowing access to your house for showings."

Was Your Home Staged to Impress Buyers?

If buyers showed little interest in your house, it's worth reassessing your home from their perspective. Are there noticeable repairs that might be distracting them? Even minor issues can lead some buyers to believe that the home's overall maintenance is lacking.

Remember, you don’t always need to make major upgrades. Strategic small repairs or touch-ups can make a significant difference. Tidying up your landscaping, adding a fresh coat of paint indoors, or decluttering and removing personal items can greatly enhance your home’s appeal to potential buyers. You might also consider staging the home.

Were You Willing To Negotiate?

If there were offers coming in but you weren't prepared to negotiate, that could be another factor contributing to why your home didn't sell. While aiming for a top-dollar sale is natural, it's essential to be realistic about current market conditions and what your home can realistically fetch. Although it's still a seller's market, the supply of homes for sale is increasing, and buyers are affected by rising mortgage rates. Being open to negotiation can significantly facilitate closing a deal. A knowledgeable agent can provide valuable assistance. As Ramsey Solutions explains:

"If you lack the funds or time to address home issues, think about offering alternative incentives to potential buyers. An experienced real estate agent can assist in structuring a deal that benefits both you and the buyer."

Did You Follow Your Agent's Advice?

For expert insights into why your home didn't sell, turn to a trusted real estate agent. Whether it's your previous agent or a new one after your listing has expired, a knowledgeable agent will take the time to discuss your experience with you. They'll value your honest feedback on what worked, what didn't, and your goals moving forward.

Then, they’ll offer their perspective. This includes tailored advice and effective strategies for re-listing your house to get it sold. As?Better Homes & Gardens?says, an agent should be your go-to resource in this situation:

"If you're feeling frustrated about the pace of your sale, talk to your real estate agent. Agents are committed to your best interests and the successful sale of your home, and maintaining open communication about any concerns is crucial."

Bottom Line

Feeling disappointed when your listing expires without a sale is understandable. Reach out to a dependable real estate agent to understand the situation and identify necessary adjustments to relist your house successfully.