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, even though 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.
- IT'S OVERPRICED - To be clear, an overpriced home is the #1 reason a home won't sell. We often want our homes to be worth a lot more that we may think it's worth based on the data, but if you put your home on the market at the price 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 think pricing your home high to leave room for negotiations, you may be making a huge selling mistake. Statistics show that views for your property for buyers in your price range can drop a whopping 90% if it priced too high. Discuss with your agent 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 your home listing expire.
- LOW SHOWING AVAILABILITY - Making sure the house is clean and having to leave daily 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 fewer value buyers will see in it. Talk with your agent 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.
- 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 own 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.
- 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 is essential to understand that the scent can be picked up by new people visiting your home, and it can 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.
- UNWILLING TO MAKE REPAIRS - Selling your home as-is may sound appealing at first, but being reluctant to make repairs could cost another mortgage payment that far exceeds the cost of repairs if you refuse to work with the buyers on their requests which in turn causes your home to go back on the market again. It is wise to be open to repair requests, and simply go over with the agent what you can afford to do and make a reasonable counteroffer during the repair negotiations.
- UNWILLING TO NEGOTIATE WITH BUYERS - It is crucial to have an open mind about requests that will come from buyers when it comes to purchase 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 is best to be open to working with the buyers on some of their requests to ensure a successful closing.
Selling your home is a big deal. It is my job as a Real Estate professional to put the service before the sale and to bring the experience and confidence needed to ensure selling your home for the best price and biggest return on investment for you! Selling your home? Call me today!