What are the biggest reasons that homes fail to sell in Charlotte? We are going to look at the biggest culprits today.
The No. 1 reason homes fail to sell is because sellers choose the wrong agent. We went on a listing appointment around seven months ago, and the gentleman chose to list the home with a different agent instead of with our team.
The agent told the seller that his home was worth way more than it was, so they listed it way too high which caused the home to sit on the market for six months. When a home sits on the market that long, the more people think something is wrong with the house. This results in leaving a ton of money on the table. Having the home on the market for six months cost the sellers at least $12,000.
Finally, the homeowners re-listed the house and came down to the price we suggested. It took just two months to sell the home this time, although they had to eat another $4,000 on monthly mortgage payments. That cost the sellers a total of $14,000 on mortgage payments. Because people already know it has been on the market for so long, they probably will have to come down in price more.
In conclusion, do not choose a listing agent just because they tell you the price you want to hear. The agent that listed this home also had 15 to 20 properties listed, with zero under contract.
A lack of marketing, a lack of communication ,and a lack of professionalism caused this home to fail to sell. In this case, these sellers are going to leave $20,000 or $30,000 on the table by making this mistake.
If you are looking to sell your home the right way, give us a call or send us an email. We would be glad to help out by putting you in the best position possible to succeed. We look forward to hearing from you soon.