Why Your Condo Is Not Selling

By Darlene Strang

Selling your home can be an exciting time. If however your home has been on the market and hasn't received much attention for some time now, you may become discouraged. Though there are several reasons why a property may not move (which we will be discussing in greater detail in this article) you must keep in mind that economically we are in the process of recovering from a recession. Though the market has stabilized and is in fact slowly getting better, the chances of selling a property over night are slim.

Having said that there has been a remarkable and positive increase in the Edmonton housing market, in fact the market has gone by 10% in last couple of months. MLS and tax reports are showing thousands of sales and a very bright future for the Edmonton real estate market.

The reason your home may not be selling could very well be right in front of you. It's easy to become so accustomed to your home that you may lose perspective. It is always a good idea to take a step back and analyze/compare your home with certain standards. There are six basic reasons why your home may not be selling.

Reasons Why a Property My Not Sell:

A lack of Planning: Many people think that they can put up their home for sale and sell it themselves. Unfortunately the percentage of sales by owner is very low. Get a Realtor with proven marketing skills and experience. The advantages of having a real estate agent in your corner far out ways the little extra they may cost. As a side note, did you know that Realtor get 7-25% more for their clients compared to private listings, dispelling the myth that not having a Realtor will save you money.

Be Open to Constructive Criticism: Yes it is your home and you may be proud of it, but that does not mean that it will sell. Part of a Realtors job is to make your home ready for showing and ensuing that it will appeal to potential buyers. In order to make the process as smooth as possible it is important to maintain an open mind. Be open to the fact that repairs, upgrades and changes in general may have to be done. Never take the pointers as an insult but look at it from the prospective that it will help your property sell that much faster. Another point that many sellers typically find difficult is the listing price. Since the economic boom, many people think that they will be able to sell their home far above market prices. Remember that the economy has suffered and it will take some time before the housing market goes back up.

Part 2 coming soon - 31385

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