When you list your home for sale, your real estate agent will put you in the best position possible to sell quickly and at top dollar by pricing the home properly and suggesting some projects that you can complete to make the property desirable. However, you might occasionally find that the house isn't generating much interest. This may be for a wide range of reasons, including a slow market in your area. It can be useful to set some deadlines for making changes at the time that you list the home. The length of the deadlines is entirely up to you, but each deadline should include an idea of a change that could be made. Here are some examples.
One Month
It's certainly not uncommon for a home to fail to sell within the first month of being on the market, but setting a deadline of evaluating things at the one-month mark can be a good idea. At this time, consider how many offers you've received and what feedback your agent has received from other agents, and then consult your agent for advice. The simple advice at this time may be to continue to wait for interest in the home, or your agent may advocate performing some cosmetic changes to make the house more appealing.
Two Months
Failing to sell within two months isn't necessarily a cause for huge concern, but you may be starting to feel anxious about the lack of progress. Meet with your agent to decide what can be done. One thing to discuss at this time is a revamp of the marketing strategy. It may be time to hold a couple of open houses, market your listing more aggressively online, or make other similar changes with the goal of getting your listing in front of more prospective buyers. The agent may also pledge to reach out to his or her colleagues to make sure that the buyers they represent are aware of your listing.
Three Months
If your house still hasn't sold within three months of its original listing date, it's time to make a change. One such strategy is to reduce the price of the home. This is ideal because it may immediately become more appealing for people with lower budgets. Additionally, a "Price Reduced" sign on your front lawn should attract more interest, and your agent can also notify people on his or her mailing list that the price of your property has dropped.
