I Know Why Your Home Isn’t Selling

I have never even seen your house, its upgrades, curb appeal or that new air conditioner installed not too long ago. But trust me when I tell you that I know why your home isn’t selling. Whether acting alone, or in combination with each other, there are eight factors that scare away buyers worse then teenage girls at a horror movie screening:

The Price is Wrong

This factor sits at number one for a very good reason. Pricing a home above its true market value in a tough market can cause irreparable damage to your probability of success. Pick an agent that a) doesn’t just pretend but truly knows the market and its intricacies and b) you trust (vital!). Use up all your skepticism in scrutinizing agents but once you decide, listen to their pricing advice and price it right or watch it sit.

Denied Access

How would you feel if you called a financial planner or a CPA for an appointment and she told you to come by her office on Saturday betwen 1:30 and 2:15 because that’s when it would be convenient? Same concept applies to showing your home. All the greatest marketing in the world is going to get a buyer interested in looking at your home, but until they get to see it, there’s no hope for an offer. Lose lengthy prior notice requests, restricting showings to weekends only etc. Make your homes as accessible as possible and maximize your chances.

Dressed for Failure

If the packaging on the candy is sloppy and uninviting, it is less likely to be picked up. The way your home is presented to prospective buyers is crucial in getting that signature on the line which is dotted. Lose the clutter, give every room a purpose and arrange the furniture to allow for pluses in your home to show and shine. Or you can enlist a staging pro and have them do it for you. Staged homes sell faster and for more money. Presentation is all about giving Buyers a glimpse of what their life in the home might be like. What glimpse is yours giving?

Dysfunctional Changes

One of the beauties of home ownership is that one can customize the property to fit their lifestyle. But sometimes, irreversably changing the structure of a property to fit one’s needs may impair its ability to sell fast. Probably the most common dysfunctional change Sellers make is converting the garage into living space. Another is to join two spaces and reduce the room count.

Lack’o'marketing

A well priced home with great access might not get a chance to sell if buyers don’t know that it’s there. Especially in a market with fewer Buyers (lower demand) and plenty of other options (higher supply), marketing has to be world class. And no, putting it on MLS and putting a yardsign will not do the trick. An agent worth her salt will put the latest technology to work to take pro quality Wide Angle photos then weave them into virtual home tours, dedicated single property websites and property profiles that rock. Then she distributes them into portals where buyers are looking and uses their social media leverage on Facebook, Twitter etc. to get the word out. If your home is not getting this type of “spa treatment” you may have a marketing deficiency that a great agent can fill.

Not Ready for Showtime

Living in the property while trying to sell has its advantages and disadvantages. On the one hand, occupied listings tend to show better since the Seller’s furniture can help define the space. On the other, keeping a property ready for showtime can be challenging especially after a few months on the market. But I can’t stress enough how important it is for the property to show well in each and every showing. Remember, real estate is an all or nothing business: it feels like you have achieved nothing until you get an offer and it makes it ALL right.

Unreal Expectations

This is the equivalent of a “come to Jesus” meeting for this article. The Seller, the Agent and Reality all have to be on the same page for things to work out. Just like an agent that wants the seller to give the property away is out of line, so is a Seller that digs in their heels waiting for that Buyer and offer that’s not coming. If 99.8% of homes sold in your subdivision did so at a discount, chances are you’ll have to follow suit. You don’t have to trust your agent on this – just trust the market data he provides. Numbers never lie.

Deferred Maintenance

Unfinished projects, Necessary repairs and perpetually deferred maintenance can all be compensated by a reduction in price, but you will pay much more that way than it costs to actually do the work. Besides, the impression of a well maintained property is the ultimate sales pitch to most persnickety Buyers. So hire a handiman or DIY, but take care of those items and allow your home to sell.

So, there you have it: 8 Factors that keep homes from selling.  Your thoughts?

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