THE TOP 7 REASONS WHY PROPERTIES FAIL TO SELL
Have you ever wondered why some homes go under contract quickly, while others seem to take ages to get a contract? Or worse, not sell at all? Time is a deal killer for real estate and the longer a home sits on the market, the less attractive it becomes for a buyer.
I’ve studied hundreds of properties, and the vast majority of the time it’s these key criteria that cause homes to sit on the market rather than selling.
1) PRICE
Pricing a property correctly (or incorrectly) can make or break how long a home sits on the market with any contracts, offers, or even showings.
Just looking at sold comps is not an accurate determination of price for a home, and yet many agents look solely at this to determine price. An experienced agent will conduct a thorough assessment, evaluating multiple criteria before developing the right pricing strategy for a property.
2) PROPERTY CONDITION
The condition of a home can have a direct impact the value of a property and the time it takes to sell. Things like broken blinds, peeling caulk, dirty windows, or an AC unit that’s not working effectively can be huge turnoffs for buyers. They’re wondering what else is wrong with the house (the ‘unknown factor’) and how much money they will have to pour into it.
Before you get ready to sell your home, have licensed contractors inspect and repair as needed your major items like HVAC, plumbing, electrical, and roof. Also do a thorough sweep around the inside and outside of your house as well, and see what may need to be cleaned, caulked, sealed, repaired, or repainted.
3) CURB APPEAL
The marketability of your home starts at the street, so make sure you wow them from the curb to the front door, and beyond. One of the easiest ways to add instant appeal is having a healthy-looking yard and a clean, fresh home exterior. Adding some colorful flowers to your flower beds and on either side of your door, pressure-washing the home’s exterior along with driveway and sidewalk, and freshly painting the exterior and door, can go a long way to making a great first impression of your home.
4) STAGING
When it comes to staging your home for sale, remember that less is more. We get used to living in our home the way we like it, but when it comes time to selling a home, buyers need to see themselves living in it. A buyer will have a tough time doing that in home that feels cramped, so remove heavy furniture items to open up rooms, and clean/organize closets to show buyers just how much storage space is there. Removing photos and very personal décor will also allow buyers to focus on the house, and not your personal things. Having light, neutral painted walls, bright white light bulbs, and clean floors and baseboards can go a long way to making a home feel airy and spacious. And don’t forget to make your house smell fresh with a soft, clean scent (nothing overpowering).
5) LAYOUT / FLOOR PLAN
A home that has a unique floor plan or an unconventional style or layout might be what’s holding buyers back from making an offer and keeping the home on the market longer. Custom modifications that were made for you or your family may not work for everyone else, so one option could be discussing possible modifications to make it more appealing. An expert agent also knows that having a smart marketing strategy will help position the home to reach the right buyers with the right message.
6) PHOTOGRAPHY/VIDEOGRAPHY
96% of buyers are searching for homes online, and their first impression starts when they see your home’s photos and videos. Professional photography and videography is key to showcasing your home’s appeal and capturing a buyer’s attention online. A buyer will decide within the first few photos if they want to see the home, and the best photos and video of your home will help set the stage and tell the story.
7) MARKETING
Many properties fail to sell because they are not being marketed correctly. It is not enough to just put a sign in the yard and list the property on the MLS! An effective marketing plan involves identifying the ideal buyer for the property and developing a specific plan to attract that buyer. Equally important a position strategy that separates your property from the rest of the competition, leveraging the right message across the right mediums for the target audience.
Call or message me when you're ready to get your home sold for the most amount of money in the least amount of time!
