What to do when your Nashville home won’t sell.

photo of locks for nashville home won't sell articleYou thought you had done everything right: interviewed several Nashville real estate agents and compared what they told you; groomed your property to near-perfection before the professional photographer’s arrival; approved all the descriptive details before they debuted in the Nashville listings…yet six months later, your home still hadn’t sold.

Your agent had done an acceptable job, it seemed – yet the outcome was disappointing. Not nearly enough showings to start with. And even though the marketing materials seemed satisfactory the result had been, in the end, lackluster. What do you do now?

There are several guidelines to follow that will boost the probability of a timely sale. Two of them are undisputed requirements. One of them is well known – cited in every reliable source of residential real estate knowledge. The other is seldom mentioned.

Priced to move? Or priced to sit?

That first one is the unmistakable broadly confirmed response: double-check your asking price! If that number is off base, almost anything else you do is likely to be a waste of energy. If you depend upon any future buyer to fall in love with your home to the degree that they will overlook better values that are on the market elsewhere in the Nashville listings, you are probably living in, as the English like to say, “cloud cuckoo land.” The desired outcome could happen – but it’s unlikely going to happen to you.

The proven evidence points in only one direction: people who actively search the Nashville listings are anticipating spending a considerable amount – so they will be watching and comparing prices. If your expected number is not in line with buyer’s expectations, they’re unlikely to spend much time examining the details. If they show up at all, it’s very likely to be out of curiosity (“what in the world are these people thinking?”). The agents who bring them, will probably have cautioned their clients about the asking price. This is not how to sell your home.

The second guideline is duly significant, but rarely talked about. It is to continue using common sense. Do not, in other words, abandon your sound judgment. Don’t act foolish all of a sudden. Do not forget everything you ever learned about doing any kind of business.

Sell your home. Don’t give it away.

The reason that this important guideline is seldom discussed is because you would not think it’s necessary to mention. That’s not always the case when your home has not sold, because of what happens next. After a listing in the Nashville MLS has expired, a homeowner is likely to receive multiple solicitation letters that GUARANTEE that the sender’s company will be able to sell the property! They might as well write, “Take leave of your senses! Sign here!”

Yes, they can sell anyone’s house…for an asking price that’s well below its market value. (So could anyone else). But that’s not what any homeowner, discouraged or not, is looking for when they list with a Nashville agent.

The reason that such solicitation assurances exist is the frustration level their authors ascribe to the recipient homeowners. That, plus the appearance that they can actually guarantee to sell the property…but there’s a catch. It’s connected with the first guideline. Yes, they can sell anyone’s house…for an asking price that’s well below its market value. (So could anyone else). But that’s not what any homeowner, discouraged or not, is looking for when they list with a Nashville agent.

The cool, confident way to progress is to determine whether the asking price is in line with the competition – then seek an agent who will bring new vitality and honesty into play. This should definitely not be someone who promises anything that common sense tells you cannot be delivered. Or whose introduction is disingenuous.
If you find yourself in the process of re-examining your home’s selling progress, I hope you’ll consider giving me a call to discuss a new, more favorable strategy.