Sal Cortese Real Estate Sale Professional

Has your lawn grown up around that "For Sale" sign? Have the wasps moved into the lock box on your front door? If so, chances are your home sale fizzled.

Here are just of most-common reasons why homes don't sell and what you can do about it.

Your home is overpriced? Optimistic home sellers love to parrot the old adage, "There's a buyer for every home." But they often leave off the qualifier: "at the buyer's price." Overpricing is the most common reason homes don't sell. When you ask an unrealistic price, it sets in motion a process that often works against you. Here's why:

Most real estate agents, and hence most qualified buyers, will see your new listing within 30 days. If it is overpriced by as little as 5%, it will be duly noted and interest in your property will wane, especially if you show no intention of coming off your asking price. You likely already priced out buyers who might have qualified for financing at a more reasonable price. Even if you manage to find a buyer at your inflated asking price, the property may not appraise at that figure and the financing will fall apart.

Your real estate agent may have approved or even suggested the inflated asking price to secure your listing. Conversely, other agents often use overpriced properties like yours to help sell their own listings. ("Here's what they are asking. Now would you like to take a second look at that first house I showed you?")

"If you have a house that really should be priced at $200,000 and you've got it listed at $260,000, you are trying to compete against homes that really are worth close to $300,000 and all of a sudden your home really is not competing well, you will want to compete with what is available out there among homes similar to yours.

If your home remains on the market for too long, agents and buyers may begin to wonder if there are other, perhaps more serious reasons why it isn't selling. "It becomes shopworn, the same as a jacket hanging in the store week after week. “People are aware that it has been on the market a long time and agents stop showing it."

Does your home 'show' well? Your home is competing against shiny new houses in those pristine subdivisions out in the suburbs with their attractive prices, incentives and community amenities. Face it: Even the best old house needs a little makeover if it hopes to attract a qualified buyer. This can be accomplished easily and relatively inexpensive: a new coat of paint, a few attractive window boxes, a thorough cleaning of floors and carpets. The place may look good enough to reconsider. I can can advise you on where your time and money are best spent.

"Price and condition are two things that the seller can do something about "I always give my seller’s a 'To Do List”. I think paint is probably a seller's best friend because it makes things smell fresh and look fresh. If it's time to paint, it's time to paint. It's the best return on investment."

Do you have a good agent? Yes there are lousy Agents out there: Real estate agents, who mislead, misfire and misbehave. Their bad advice can cost you plenty in time, money and the sheer hassle of keeping the place show-ready 24/7. These agents will allow you to overprice your home ("Here's what I can get for you if you list with me!"), not market it properly, fail to screen for qualified buyers, be unresponsive to interest from other agents (if they sell their own listing, they don't have to split the commission) and keep you totally in the dark throughout the process.

Are you battling competition or market conditions? We've all heard the terms "buyer's market" and "seller's market." In real estate, market conditions are affected by any number of external forces, some of them predictable (the weather), some of them unpredictable (the local economy, interest rates, public optimism or pessimism).

In a "hot" or seller's market, homes go fast. Inventory (homes on the market) may be low, meaning less competition for you. Chances are better that you will get your asking price in a hot market; in fact, it is not uncommon to even be offered more than your listing price.

But in a "flat," "cold" or buyer's market, sales slow to a trickle, inventories grow and buyers can find bargains, especially when they know the seller is motivated (i.e., paying on two mortgages).

Do You have ineffective marketing? Gone are the days when an agent could simply place your listing with the local multiple listing service, hold a halfhearted open house and wait for another agent to bring forth a buyer.

I will launch a multilevel marketing plan that includes listing tours for area agents, Internet in all the major websites, newspapers and s, weekend open houses, listing fliers and placements in local real estate publications.

According to the National Association of Realtors, today more than 80% of all home buyers use the Internet for house hunting. The best real estate agents are computer-savvy. They have your listing in color on their laptops to show clients and communicate frequently via e-mail, a advantage particularly when working with out-of-town buyers.

"There are those who just put the listing in the Multiple Listing Service and pray it will sell and those that put a lot of effort into marketing their listings."