Home Is Not Selling? Raise The Price!

Here's a new technique if your home is not selling ... how about raising the price!

Anybody who has followed the Tallahassee Real Estate Blog for any time knows that I do not pull punches when it comes to some of the shenanigans pulled by "professionals" in our industry.

Well today I'll do my quick mini-rant on behalf of all those home sellers who are getting horrible advice from real estate agents who have recommended that they raise their price.

Why Your Home Is Not Selling

First of all, you have to wonder why your home is not selling. Perhaps buyers think it is too good of a deal, and maybe if you raise your price they will think it is more fair that way. {Sarcasm}

Or maybe everybody looking for a home like yours would have never thought to look in a lower price range. {Sarcasm}

More likely, your home is not selling because it does not compare favorably with other homes being marketed at the same price.

See, that's really it. When they look at a list of homes for sale all priced like yours, they like the other ones better. Yours is over-priced and must be reduced (or you need to wait for the market to catch up to your price). So why on earth would you raise the price and make it compare even less-favorably than it already does?

What To Do When Your Home Is Not Selling

House Is Not SellingIf a real estate agent recommends you raise your price, you have to ask them why? If you've added a pool since you first listed it or perhaps added onto the home during the listing, maybe that could make sense (but who does these types of things when they are trying to move?).

If you get a crazy answer like "let's shake up the market," fire your agent. Immediately.

If you get an answer like "supply is running low, you can get more" then ask them why you are not getting offers (showings?) at your current price. When you don't like their answer, fire your agent. Immediately.

If you are interviewing agents for the job of selling your home, after having been on the market with a previous agent, don't let them price it higher. They most likely are doing that to "win the business" and then will encourage you to reduce the price so that it can sell.

Any time a home is not selling, you only have to ensure that it was exposed to the full market before deciding upon price as the culprit. If the real estate company you chose does a poor job marketing the home on the internet, then maybe you missed a substantial pool of homebuyers. But I suspect you will find it is the market rejecting your price.

The NAR did a survey of home sellers and found that 64% hired the first agent with whom they interviewed ... shame on them. Take the time to hire the best agent you can get, you'll end up putting more money in your pocket then you will hiring one who is not the best.

If you would like more information on selling a house in 2013, just drop me a note and we can schedule a time to review your personal situation and ensure you won't wonder why your home is not selling.

*Joe Manausa Real Estate is a brokerage company headquartered in Tallahassee, Florida. Its unique business model provides specialists to both home sellers and home buyers, and the results speak for themselves. JMRE has significantly more 5-star reviews on google than any other local competitor. Joe Manausa Real Estate is a leader in internet marketing and utilizes search engine optimization, email marketing, social media and data analytics to get their clients’ home sold faster and for more money than any other Tallahassee brokerage firm. For more information, visit www.manausa.com or call us at (850) 366-8917.

Please Do Us A Small Favor

We work very hard to produce daily content for our long-time readers and first-time visitors. We provide this information for free, hoping to earn your respect and trust and the right to one-day help you when selling or buying a home. Can we get your help spreading the word about our blog?

If you like the content, would you please like it or share it using the Facebook button at the beginning of the post? This simple action will be greatly appreciated! THANK YOU!

Please Like Us And Share On Facebook - Help us grow our brand!

Also like us on Facebook at https://www.facebook.com/joemanausarealestate/

Joe Wrote The Book On How To Sell A Home Today

Joe Manausa wrote the book on how to sell a home in the digital age, you can find it here“Location, location, location’ is no longer a competitive advantage. Digital marketing and going direct to consumer have made all geographical boundaries obsolete. The Business of Getting Business is a must-read modern-day survival guide for any local business to get to the next decade. Local businesses are on death ground.

They can either take a stand and re-invent themselves by embracing the digital frontier and have a chance to survive the overwhelming odds of digital direct-to-consumer capabilities that have erased all local and national business distinctions, or they can choose business as usual and accept certain death.

The Business of Getting Business is the critical survival guide for those that choose to dig in and fight.”
   – Anthony Noto, CEO, SoFi and former COO, Twitter

Get the book that explains it all, in a manner that is understanding to all, even technology neophytes. It's available on Amazon, a trusted source for consumers.

Real Estate Agent reveals in Tallahassee, Florida

Think all REALTORS are alike?

Read what people are saying about working with Joe Manausa Real Estate! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.


#1 By Robin at 7/11/2017 3:48 AM

Sounds like good info but personally I would look for an agent who markets in print as well as on the internet. Yes, there are a lot of people researching on-line but there are also still a lot of people picking up the newspaper and Homes and Land.

#2 By Joe Manausa, MBA at 7/11/2017 3:48 AM

I would probably say the same thing too Robin if I worked for a newspaper .. :) But I'll go with the metrics that tell us 94% of homebuyers are online. A better ROI requires a bigger online spend to get in front of those 94%.

#3 By Nikky at 7/11/2017 3:48 AM

Great COMMON SENSE advice Joe! When I shop for a dress, I might not buy dress A for a $100 because I like dress B better for the same price. But if dress A is priced at $75, suddenly I like it a lot more because I know it's a good deal.

Robin, I agree with Joe. If I am selling my home, I want it to sell FAST. It's been my experience that properties in print medias like H&L are often overpriced and/or no longer available. Buyers are getting smarter. The Internet provides more detailed up-to-date information. Plus for buyers relocating, guaranteed they are surfing the Internet for their new home, not shopping in their new grocery store 100s of miles away for the latest and greatest H&L publication (sarcasm!). Even the Tallahassee Democrat points their buyers and sellers to the Internet!

Post a Comment

(850) 378-5727