…and how is this related to real estate?
In the dark of night in your local supermarket, from canned vegetables and salad dressing to fresh fruit and deli meats, countless items are being removed from store shelves. They are expired or expiring, past their prime.
What happens to them?
Much of the meat and, fruit and vegetables end up at the deli counter. Food banks get some of the can and dry goods, some gets marked way down for a quick sale and some ends up in the dumpster behind the store. It’s just the way it is, the cost of doing business, oversupply and under-demand…
In happens in real estate too. The majority of houses sell, most within about 90 days, but many don’t sell.
They don’t sell for many reasons: the agent didn’t market the home properly, the home is flawed or stigmatized or overpriced, the timing was bad, or perhaps it wasn’t on the market long enough, or too long, maybe there are too many similar homes on the market. These are all possible reasons. And there are more.
What’s important though, is that you the seller does not take it personally. It’s hard not to do. You’ve gone to the trouble of getting your house ready for sale, you’ve kept it neat and tidy, you’ve been asked at short notice to be absent between 7:00-8:00pm because there are some people who want to see it. You’ve been told to stay away on weekend afternoons for open houses. You’ve signed all the paperwork, talked to bankers and lawyers. Your neighbors know you want to move.
It’s frustrating. But like I said. Don’t take it personally. It is what it is.
You still want to sell. What should you do now?
The best thing to do, is to find out why it didn’t sell, address that issue and try again. Invite real estate agents like Alasdair and I over for a chat. We’ll be able to tell you why we think it didn’t sell. We’ll give you the advice you need to get your house on the market again and this time, learn from your mistakes and sell it in 90 days.
That’s what I’d do.