3 Reasons 50% of homes never sell (in ANY market…)

St. George Utah Real Estate Podcast with Jeremy Larkin

Shockingly, almost half of the homes that go on the market will fail to sell. Here are three main reasons why.

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When you hire a real estate professional, put a sign in the ground, and put your home on the market, you automatically assume that the home is going to sell. However, many homes that hit the market NEVER SELL!

In fact, 49% of homes that hit the market in 2016 in Washington County failed to sell. REALLY. Why?

Three primary reasons:

1. Price
2. Condition
3. Marketing

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Almost half of the homes that hit the market fail to sell.

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Price

Pricing your home is, amazingly, not too unlike pricing a piece of clothing in a retail store. Have you ever walked into your local Gap or Old Navy and gone STRAIGHT to the sale rack? I know – me too. EVERY TIME!

How do articles of clothing end up there? Quite simply, the were offered to “the marketplace”, and based on a variety of factors, but primarily PRICE and STYLE…they were rejected.

Will they ever sell? Yes. At some price, everything sells.

Where you DO NOT want your home… is on the sale rack. Properly pricing a home in the first 30 days of listing has statistically proven to get Sellers the most money…much more, in fact, than if they “hold out” for the “right buyer” over months or even years.

Condition

While pricing may get buyers in the door, a poorly conditioned home will send them right back out the door!

As you prepare your home for sale, remember that Buyers will most often have problems with:

1. Your colors.
2. Your clutter.
3. Your dirt. Especially your dirt.

The improvements and upgrades you made for your enjoyment may not mean much to another Buyer who hasn’t been raising their children or living their life in your home!

At The Larkin Group we utilize a professional staging consult, all at our cost, to help clients prepare their home for sale. Every time. And it pays big dividends in time on market and ultimate sales price to our Sellers!

Marketing

Why did we list this LAST? Well ironically, it’s what most Sellers expect FIRST from their Realtor….and what they get LAST from their Realtor. If they get it at all.

Marketing is the “story” we tell about your home. Think “depth”….how GOOD we tell the story, and “breadth”, how WIDELY we share that story.

According to Borrell Media, the average real estate agent spends just $400 per month. Per month. Can we put that into perspective?

At The Larkin Group we spend nearly $3000.00 per month pushing our listings to the top of Zillow Trulia….alone. That doesn’t include Radio, pay per click (google) advertising, a host of websites, our YouTube channel, paid Facebook marketing….

A great question for your Agent: “How much do you spend on marketing monthly? (answer). Great! Show me.” Don’t let them make a claim without backing it up!

So there you have it – the 3 reasons nearly 50% of homes never sell! We’re baking cookies here folks with your home…..if we leave out the vanilla or baking powder or sugar? It’s going to be a BAD cookie. Be sure that the St. George Real Estate Agent you hire to sell your home is including ALL of the three ingredients above for the most profitable and timely home sale!

Questions about selling or buying a St. George home? Give us a jingle at [phone], or just shoot us an email to [e-mail]

Happy home selling!