6 Reasons Your Home Won't Sell
Are you ready to sell your home and want it to have a great
first impression on the market? Or maybe your home has been listed for a few
weeks or months, and you can't figure out why it won't sell, and you know your
agent is working hard to market it. I’ve listed below the top 6 reasons your
home may not make a good impression and end up stagnant on the market.
1. IT'S OVERPRICED
To be clear, an overpriced home is the #1 reason a home
won't sell. We often times want our homes to be worth a lot more than we may
see based on the data, but if you put your home on the market for the number
you wish it will bring instead of the price it actually needs to be, your home
can sit on the market for months without getting a single showing. If you're
thinking you need to price high to leave room for negotiations, statistics show
that views for your property, for buyers in your price range, can drop a
whopping 90% if it's priced too high. Discuss with your broker or me what the
market says the value of your home is, then price it competitively to
potentially get a bidding frenzy instead of low offers or having it expire.
2. LOW SHOWING AVAILABILITY
Making sure the house is clean and having to leave on a
daily basis for buyers to tour the home may get a little overwhelming, but it
is crucial to have open availability to have your home shown. You could end up
missing out on the perfect buyer if you decline too many showings. The longer
it sits on the market, the less value buyers will see in it. Talk with me or
your broker about having a 24-hour notice period if the extra time is needed,
but make sure your home is available to be shown as often as possible.
3. CLUTTERED SPACE
Buyers want to walk into a house and envision their lives in
that home. This is difficult to do if your home is cluttered with personal
belongings. They are instantly given the feeling of invading someone else's
personal space, instead of the satisfaction of being able to see a future in
your home. Make sure your property is clutter free before putting it on the
market; and store away any family photos.
4. UNPLEASANT ODORS
If you smoke or have pets, it's easy to get used to the
smell to the point that you don't even notice it anymore. But it's important to
understand that the scent can be picked up by new people visiting your home,
and it can really turn them off from making an offer. Before a showing, make
sure to dispose of any garbage, don't cook fish or other strong-smelling food,
and ensure the home is freshened up so there are no pet or smoke odors.
5. UNWILLING TO MAKE REPAIRS
Selling your home as-is may sound appealing at first but
being unwilling to make repairs could cost another mortgage payment that far
exceeds the cost of repairs if you refuse to work with the buyer on their
requests and the home goes back on the market again. It's wise to be open to
repair requests, and simply go over with your agent what you can afford to do
and make a reasonable counter offer during the repair negotiations.
6. UNWILLING TO NEGOTIATE WITH BUYERS
It's important to have an open mind about
requests that will come from buyers when it comes to purchasing your home.
These requests can come in the form of price negotiations, repair requests, or
even requests to cover closing costs or home warranties. With your agent on
your side advising you of the best steps to take, it's best to be open to
working with the buyers on some of their requests to ensure a successful
closing.
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