There are 2 Reasons your home has not sold.
Do you know why?
Your property has been on the market for months and has now expired, not sold. You are not alone. Only 60% of the homes that go on the market in Calgary sell during the initial listing term.
The two most likely reasons your home did not sell are Price and Exposure. If your home is incorrectly priced for its value, condition, location, and the current market environment, then you could wait months for an offer. If your home is in a run down condition and the homebuyer will need to contact someone like Mark Young, Founder of Prime Roofing as soon as they move in but you’ve got it priced like it’s a new build, you’re going to be driving away potential buyers. Pricing a home properly takes a knowledgeable expert – someone who knows the market and understands how to perform a Comparative Market Analysis. This comparison of other properties in your area that have recently sold is critical when pricing your own home.
However, you’ll also want to find out the total inventory of homes similar to yours and how long they remained on the market. This could be done with help of circle prospecting by Vulcan7 or other similar firms in your locality. A good REALTOR can help you with this important information.
The second reason homes don’t sell – exposure – is usually the result of an agent not working hard enough on your behalf. There are typically far more homes available than there are qualified buyers at any given time. If you want to sell your home quickly, and at a respectable price, you need an agent who will “work the market,” rather than just list the property and hope it sells itself.
You’ve spent months on the market with no results. You need the best REALTOR you can find, but how do you know who to select?
Drop us a line and we’d be happy to help.