If your listing expired and your house didn’t sell, it's natural to feel a mix of frustration and disappointment. As you work through those emotions, you’re probably also wondering what went wrong and what you should do next.
If you still need to move and want to get your home back on the market, here are some important factors to consider:
Was It Priced for Today’s Market?
Setting the right price from the start is key. While it might be tempting to list your house at a high price, this can significantly slow down the selling process. If your house was priced higher than similar homes in the area, it might have turned away buyers. As Rocket Mortgage explains:
“Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . . If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing. . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment. Your home’s true value is whatever a buyer is willing to pay for it.”
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. Even though it might be stressful to leave at inconvenient times, being flexible with your schedule is crucial. Minimal access means minimal exposure to buyers. ShowingTime advises:
“. . . do your best to be as flexible as possible when granting access to your house for showings.”
Was It Set Up To Make the Best Impression on Buyers?
If buyers weren’t interested in your house, it’s worth taking another look at your home through their eyes. Are there outstanding repairs that may be distracting them? Even small issues can make buyers think the home is not well-maintained.
Remember, you don’t always need to make big upgrades. Selective small repairs or touch-ups can go a long way. Tidying up your landscaping, applying a fresh coat of paint inside, or removing personal items and clutter can significantly improve your home's appeal. You might also consider staging the home.
Were You Willing To Negotiate?
If you received offers but weren’t ready to negotiate, this could be another reason your house didn’t sell. While aiming for top dollar is understandable, you also need to be realistic about what your house can net in today’s market. Although the market still favors sellers, the growing supply of homes and higher mortgage rates mean buyers are cautious. Being open to negotiation can make closing a deal easier. As Ramsey Solutions explains:
“If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. . . An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top.”
Did You Listen To Your Agent?
If you want expert advice on why your house didn’t sell, rely on a trusted real estate agent. Whether you continue with your previous agent or choose a new one after the listing expires, a great agent will discuss with you what worked, what didn’t, and where to go from here.
They’ll offer their perspective, including tailored advice and effective strategies for re-listing your house. As Better Homes & Gardens says, an agent should be your go-to resource in this situation:
“If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”
Closing Thoughts
It’s natural to feel disappointed when your listing expires and your house didn’t sell. Connect with me, Anthony Spitaleri, your Miami real estate agent, to determine what happened and what changes you should make to get your house back on the market.
