Why Homes Dont Sell
Top 4 Reasons Why Homes Don’t Sell & Tips To Get It Sold (Hire US!)
Yes of course your price matters. Two things matter in determining your price:
1. Your price needs to reflect the market you are in. If you are in a market where prices are declining then you need to price your home slightly below where others have sold. This benefits you because you are now the best home for the best price which will entice the buyers to make offers on your home first and secondly your competition will appear to be overpriced and sit on the market longer. If you are in a market where prices are increasing, then use home values of the most recent homes sales that are in the same condition. You may still increase your price according to the upgrades you’ve made.
2. Your price needs to reflect the time frame you would like to sell your home. If the average days on market for your neighborhood is 4 months and you need to sell in 30-60 days then price your home to sell.
1. Staging - This includes everything from furniture placement, de-cluttering (on top of cabinets, on shelves, specific wall decorations), types of drapery and bedding and of course paint colors
2. Cleanliness and Smells - A buyer is looking for clean and move in ready. Walk through your home and look at the baseboards, walls, ceiling fans, blinds, vents, sinks and showers. Wipe off the dust, hand marks and any soap scum left behind. Have a close friend or neighbor walk through your home and ask them if they notice anything visually or any odors. Smells will turn a buyer off especially Animal and Smoke smells that your nose may be used to.
3. Deferred Maintenance – Inside and Out. Start with the landscaping, fresh mulch, a fresh cut and edging, and pressure washing can go a long way and it’s mostly inexpensive. A buyer thinks, “If they don’t take care of the outside, I wonder what the inside looks like.” Now go inside and look in your bathroom for any re-grouting/caulking needs, have your A/C cleaned, check for any rotting wood and replace it. It may not be a bad idea to have your home inspected prior if it’s an older home. Note: even if you have an inspection performed at your cost and make repairs, a buyer may still pay for an independent inspection and ask for repairs of their own.
1. Pictures – Oh please do not allow anyone to take pictures with their phone, I don’t care how what the resolution is. You need professional photography that show case the entire room, not just the walls. Stay away from over animated photos, fish eye or other over enhanced photography. Photos should be bright and crisp and be a true representation of what the home will look like when the buyer walks in. Virtual and in-home staging are good for vacant properties. The picture placement online should have the most important photos first ( front, backyard, kitchen, family room, master bedroom and master bathroom)
2. Descriptions- Should be more than 3-4 sentences and should showcase all of the features of the home and community. You are selling a lifestyle, a community and everything great about the home.
3. Internet – Homes do not sell just because you are in the MLS. Using the MLS powerfully by having great pictures in a specific order, a great description, as many details about the property structurally, room dimensions, any community information, etc. You also want your home to go to all of the websites and have a presence on social media.
4. Information – Now that you have your home in the MLS and the information is correct, what about information that is not readily available? What is important to the buyer? Make sure you have several documents filled out or ready. Seller’s Property Disclosure, Utility information, Maintenance items you have contracted such as lawn, termite and pool, your survey, upgrade sheet with the cost (buyers have a hard time making the connection of upgrades included and the cost to have it done) and favorite places around the neighborhood ( this gives the buyer an idea of the best places to go if they are out of town).
1. Typically you have no control over these items. Logically if a home is in their budget and in the area they would jump on it right? Wrong. Logic makes a buyer think, EMOTION makes them act. A buyer must “feel” that your home is the one they want to make an offer on.
Buyers may have a negative emotional reaction to your home and be strong enough for them to walk away and not come back. These reasons include some of the above mentioned items like paint colors, smells and maintenance. However we see buyers not buy because of a small family room, the direction the home sits, what the home backs up to and a small backyard. Even if a home has a large side yard, if it’s not in the back the buyer may have an aversion to it. When this happens a buyer may throw out a low-ball offer and say “I’ll buy it, if I can get it at this price” and ultimately that is the answer, At what price is someone willing to buy this home despite the objections.
Most buyers are not willing to pay full price for a home that “needs work” even if cosmetic because it now becomes their burden of time and money. As a Seller, if you want the most money for your home you may need to do the things you don’t want to do (like painting, replacing the carpet) in order to get it sold for top dollar.