Reasons Why Homes Don’t Sell
Is there grass creeping up around the for sale sign in your front yard? Is there rust from the lockbox running down your door? Chances are very good that your property is not going to sell.
There are a few good reasons why homes do not sell and what you can do about it.
Your Price is too High.
Have you ever heard a seller say, “There is a buyer for every home.” What they are forgetting is that the buyer will set the price. Trying to sell an over-priced property to an INFORMED buyer is virtually impossible in today’s market. Buyers are knowledgeable and more educated today because of new technology and the internet. With a click of the button potential buyers are able to view all of the transactions in an area and quickly form an opinion about a property. Even if you do get a misinformed buyer to agree to your price, chances are good that the deal will fall through at the time of the appraisal. Get an analysis guaranteed within 5% of the sales price by clicking here.
The Condition of your Home
There is a lot of competition out there to sell homes. Your home has to compete against other similar homes for sale, as well as competing against shiny brand new homes. The more you can do to make your home look appealing to a buyer, the better your chances for a quick sale. Look at your home with a critical eye – put yourself in the buyers position. A buyer doesn’t want to have to do anything except move in. Your best “bang for the buck” in improving the condition of your home are paint and flooring. Make sure that all of the paint is in great condition, both inside and out. Repainting doesn’t cost too much, and will usually make the biggest impact on buyers. Make sure all of the flooring looks good too. You may want to consider putting in new carpet. Again, it’s not that expensive but it sure does make an impact on buyers coming to look at your home.
- Flowers & curb appeal
- Curb appeal checklist
- Improvements that pay
- Should you paint?
- The Kitchen
- The backyard
- Staging your house
- Staging checklist
We will gladly advise you where your money is well spent. Click here for a comprehensive market analysis and complimentary consultation.
Location, Location, Location
It’s the oldest cliché in the world, but it’s true. When it comes to real estate, it’s all about location! When it comes to homes, things like how good the schools are, crime rates, visual appeal of the neighborhood and noise or the smell of pollution can all effect how desirable the location is. If you’re in a bad location, we can help to minimize some of the impact by suggesting improvements to the house. But the only really reliable way to overcome a bad location is with a lower price. Simply put, an identical home in a bad location won’t sell for as much as the same home in a better location.
Your Marketing Campaign is out of Steam
We do not want to step on the toes of any agents in the industry but this is a reality that must be addressed.
Gone are the days when an agent could simply place your listing with the local multiple listing service, hold a halfhearted open house and wait for another agent to bring forth a buyer.
Today's top performers launch multi-level marketing plans that include listing tours for area agents, newspaper, architectural floor plans, wetlands maps, traffic counts, zoning maps, aerial photography, owner improvement lists, creative financing options & professional photography. Bray Consultants embrace all of these components. Computers and the Internet also have changed the face of real estate. According to the National Association of Realtors, today more than 84% of all home buyers use the Internet for house hunting. The best real estate agents are computer-savvy. They have your listing in color on their laptops to show clients and communicate frequently via e-mail, a particular boon when working with out-of-town buyers.
"There are those who just put the listing in the multiple and pray it will sell and those that put a lot of effort into marketing their listings," says Bray. "Unfortunately, with this weird system of compensation we have, they all get paid the same, whether they know nothing or have many years of experience."
The Market is Slow
You’ll hear it described as a slow market, or a Buyer’s market, or maybe a cold market. But it all means the same thing. That home sales in the local area, or market, are slow. That there are too many homes for sale and not enough active buyers. There are several things you can do to combat a slow market. The most effective strategy is to sell at a lower price. Buyers are expecting to find bargains during a slow market. You can also help yourself by offering to pay some concessions to help a buyer that might not have a lot of cash. The ultimate way to beat a slow market is to simply wait it out. But that’s not always an option for many sellers.
Your Home isn’t Easily Accessible
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home, that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing. If not, you should do anything else you can to make it as convenient as possible for agents to show your home.