TIPS FROM THE BEST
When a home listed for sale expires off the market without so much as an offer there are a number of common reasons as to why that happened. Some of the causes of having an unsold home are the responsibility of the real estate agent if there is one involved. Other aspects of selling a home are done in coordination with the real estate agent but is the primary responsibility of the home seller (setting the listing price for example). If a home seller still has the goal of selling their home in mind, this list of five common reason why a home does not sell will help home sellers get their how sold.
Overpricing is one of the main reasons a house will not sell. Homebuyers are looking to get the best value for their money when buying a home and go in fully informed with regards to home prices and features. Regardless of how many upgrades or add-on features a home has, if the price is not in line with other homes in the neighborhood it will not sell.
Over 90% of home buying begins online and all home marketing efforts must start here. High definition photos and videos should be taken of the home to provide the best presentation online. Targeted advertising through Bing, google, Facebook, Instagram and more should be part of the marketing strategy for selling a home. Are you or your agent using the full power of the internet to market your home to the right buyer so they are ready to come in and visit in person? If not, then this is an easy way for your home to slip through the cracks and never receive any offers.
3.) Show Ready Home
A show ready home means the home is properly cleaned up and prepared so that when homebuyers come through they can see themselves living in the home. If a home has custom collections, personal pictures, unique decorations, or unique paint colors wallpaper on the walls that will serve more as a distraction for home buyers. Personal items need to be taken down and packed away so the home has more of the neural appearance.
4.) Access and Showings
Buyers viewing several homes a day that can’t get in to see your home because of the scheduling issues can result in a lost offer. Your unseen home never comes into their thinking when considering which house to make an offer on. The inconvenience of having to clean a home up for a showing is far outweighed by the inconvenience of having a home on the market longer. Additionally, the longer a home stays on the market the more likely a price reduction will be needed to get it sold.
While this is the last area listed, it can also be the main reason for your home not selling since if motivation is lacking the rest of the points above don’t really matter. What is the motivation to sell the home? Are those motivations still valid by reviewing the reasons for wanting to sell a house and then re-affirming that commitment, you can but a home sale back on track and allow focus to be put on any other areas that need addressing. With proper motivation and understanding the goals for wanting to sell a home, home sellers will set themselves up for success.
While the stress and tension of selling a home can be high, having a home expire off the market without any offers can make one question why they are involved in the process in the first place. Pricing and marketing are some of the critical areas where if done wrong or not done at all are sure to be cause of failure for a home sale. All areas are important to pay attention to as small slips in one area can jeopardize the whole sale.