Diagnosis: Bad Marketing or Bad Price (Pick One)
Even in a Seller’s market (psst! we’re officially in one), not every home sells.
When that’s the case, what is going on?
In my experience, one of two things:
If the home isn’t getting showings, the problem is marketing.
The property photos are a turn-off (assuming there are any, besides a single, nondescript front shot); the marketing verbiage (if any) is unalluring; and nothing about the listing conveys excitement or enthusiasm, or otherwise gives Buyers a reason to want to check out the home.
Or all of the above.
It goes without saying that poorly marketed homes are not well-prepped or staged (or staged at all), which translates into “blah” photos and disappointing showings.
Which leads to . . .
If the home is getting showings but no offers, the problem is usually price.
Once prospective Buyers and their agents have actually been in the home, the home’s attributes speak for themselves.
While Sunday open house traffic is overwhelmingly about early-stage Buyers or the merely curious (including neighbors), Buyers represented by agents are usually (usually) serious — that is, motivated, financially pre-qualified, and generally on top of the market.
When those folks have been through and pass, by process of elimination the usual culprit is price.
And that’s true regardless of what their feedback says, which in Minnesota is usually blandly positive no matter what the Buyers thought of the home.
P.S.: the photo (top) is an actual photo of a “For Sale” home.