What to do when your property has been on the market for more than 60 days?

If your property has been on the market for more than 60 days in the Houston real estate market, it's essential to reevaluate your strategy and make necessary adjustments to increase its appeal to potential buyers. Here are some steps you can consider:

1. Reassess the Pricing:

• Compare with Similar Properties: Evaluate the prices of similar properties in your neighborhood. Your property might be overpriced, leading to a lack of interest from buyers.
• Consider an Appraisal: An appraisal can provide an unbiased opinion of your property’s value and help in setting a competitive price.

2. Improve Property Presentation:

• Curb Appeal: First impressions matter. Enhance your property’s curb appeal by maintaining the lawn, cleaning up the exterior, and adding some plants or flowers.
• Home Staging: Consider staging your home to make it more appealing to potential buyers. Staged homes often sell faster and at better prices.

3. Marketing Strategies:

• Professional Photography: High-quality photos and even virtual tours can make your listing more attractive online.
• Expand Online Presence: Ensure your property is listed on multiple real estate websites. Consider social media advertising to reach a broader audience.
• Highlight Unique Features: Emphasize what makes your property unique, whether it's a great view, a renovated kitchen, or spacious rooms.

4. Address Repairs and Upgrades:

• Fix Any Issues: Attend to any maintenance issues or necessary repairs. A property in good condition is more likely to sell.
• Consider Upgrades: If your budget allows, consider making minor upgrades like repainting, updating fixtures, or improving landscaping.

5. Flexible Viewing Times:

• Accommodate Potential Buyers: Be flexible with showing times, including weekends and evenings, to accommodate potential buyers' schedules.

6. Review Your Agent:

• Agent's Performance: If you're working with a real estate agent, discuss your concerns and review the marketing strategy. It might be necessary to make adjustments or consider a different agent.

7. Engage with Feedback:

• Feedback Analysis: If you’ve had showings but no offers, consider feedback from potential buyers. If there’s a recurring issue, address it if possible.

8. Consider Renting:

• Temporary Rental: If selling isn't urgent, consider renting out your property in the meantime. This can help cover your mortgage while you wait for the market to improve.

9.  Stay Informed:

• Market Trends: Stay updated on Houston’s real estate market trends. Market dynamics can change, and being aware of these changes can help you make informed decisions.

10. Legal and Financial Consultation:

• Legal Advice: If your property isn’t selling, consult a real estate attorney to explore your options and ensure you're not missing any legal angles.
• Financial Counseling: If the property is a financial burden, consult a financial advisor to understand your options.

Remember, the real estate market can be cyclical, and factors beyond your control might influence the sale. Patience, persistence, and a proactive approach can make a difference in selling your property.

Contact us here at Revilo Real Estate and we will be happy to assist you with all of your real estate needs.