6 Reasons Your Home Hasn't Sold
Are you ready to sell your house and want it to have a great first impression on the market? Or has your home been listed for awhile, you know your agent is working hard to market it, just don't know why it hasn't sold yet. Below are the top 6 most common reasons your home may not be making a good impression and is ending up stagnant on the market.
1. IT'S OVERPRICED
An overpriced home is the #1 reason a home won't sell. We often 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 as much as 90% if it's 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 it expire with no interest.
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 overwhelming-I get it! It is crucial though to have open availability for your home to be shown. You could end up missing out on the perfect buyer if you decline showings. The longer it sits on the market, the less value buyers will see in it. It also is a quick way to get off on the wrong foot with buyers, you don't want the impression to be that you'll be difficult to work with & for scheduling inspections once under contract. Talk with your agent about having a overnight notice 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 living in that home. This is difficult to do if your home is cluttered with personal belongings. They instantly get the feeling of invading someone else's personal space, instead of being able to see their future in your home. Make sure your entire property is clutter free before putting it on the market; and store away all 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. It is 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 outside, don't cook fish or other strong smelling food the day of a showing or night before, and ensure the home is freshened up so there are no pet or smoke odors - change the cat's litter box just before leaving & leave the windows open to air out the house as much as possible.
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. Be open to reasonable repair requests. 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, requests to cover closing costs, or home warranties. With your agent on your side advising you of the best steps to take, be open to working with the buyers on some of their requests to ensure a successful closing. You want to make this a win-win for everyone and always keep your reason for selling in mind, lets get you to that end result.
When you're ready to discuss selling your house, purchasing a home, or getting an investment property let me know. I'd love the opportunity to help!
Brittany Allen