5 Reasons Homes Don’t Sell
This is the #1 reason homes don’t sell. Somewhere between FREE and the asking price, we know that someone, somewhere will likely want to buy it. Even distressed properties sell for the right price. Unrealistic seller’s often have the attitude of: “They can always make an offer.” But buyers won’t make an offer if they never see the property. Pricing is extremely crucial. Click here for more reasons.
2. Ineffective Marketing
You might be surprised how many buyers say NO to houses simply because of poor photos used in ads and flyers. It happens all the time.
Marketing campaigns using only a sign in the yard can hamper results, too. The assumption is that the buyer will drive by the property, see the sign and stop. It can happen, but what about the 85 percent of all buyers who look on the internet who rarely drive in that neighborhood?
3.Doesn’t “Show” Well
Dirt, clutter, darkness, pets, nasty odors, distracting colors, and shoddy curb appeal can all contribute to a slower than anticipated sale. These are distractions to buyers. Make them appreciate the space the house provides, not all the “stuff” inside. Sellers may consider renting a storage unit. Studies show that proper staging can be a significant factor in selling for higher profits in a shorter period of time.
Your home may be worth a fortune if its location was Aspen, New England or San Francisco. The same house could get thousands more if it were located one street over in a higher-ranked school district, too. The best way to compensate for a poor location is to accentuate the positives. Consider a privacy fence, trees or tall shrubs to curb traffic noise or screen off offensive adjoining properties. A price reduction may be in order, too.
5. Market Conditions
External forces can affect the supply and demand of homes: the economy, schools and unemployment rates. In a hot, seller’s market, chances are better that you may get your asking price and maybe even more. In a buyers market, sales can be sluggish and inventory grows. Sellers are competing with other properties on the market and buyers are looking for a steal. In this case, be prepared to settle for less than top dollar, or wait to sell when the pendulum swings in your favor.