Why Homes Fail to Sell

expired sign
Has your home been on the market for a long time? Are you stressing about putting your home for sale? Have no fear! Knowing WHY homes fail to sell will help you avoid the stress and frustration that comes with selling your house the wrong way. Here are the TOP 5 PITFALLS TO AVOID. 
 
 
1. Did you price it right? 
Pricing your home correctly is an important step to the home selling process. When your house is not priced correctly, you open yourself up to the possibility of your house being on the market for much longer than expected. In additon, when you do start to receive offers, if your house is priced over what the market is suggesting then every offer is going to seem like a low ball offer to you. This could become incredibly frustrating!
 
Motivated buyers will not waste their time with a house that is over priced! Serious, motivated buyers will not want to insult you with a low ball offer so they will seek a house that is more aligned with what the market calls for.  You're repelling the exact type of buyers that you wanted to attract! 
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Another issue is that you may have showings for the house but not get any feedback nor offers.  For every 10 showings you should have 1 offer. If you don't -- that's the market silently telling you they are rejecting your house.
 
SO THE STATS: People look at 7 to 10 homes before they buy a house. Therefore, when calculating your traffic think about the number of showings in comparison to your number of offers. This may mean you are off base with your pricing! 
 
2. Does your home have a "clean bill of health" ?
 
When pricing your home to put on the market, you must take condition into consideration.  If someone needs to come in and update everything, they will estimate that and want to knock it off the price.  Don't want this to happen?  Take the time to update the little things that may not cost as much but make a HUGE difference.  You need to understand that things like a new roof, new air conditioner, new windows, etc cost a lot of money and will effect the ability for your home to sell if you don't understand how to make concessions. Your realtor will let you know what the homes in your area have as far as upgrades/updating and if you are in the market or outside the market.
 
3. Who's your Marketing Director?
 
Don't limit yourself to just having a sign in the yard.  There are SO many things that can be done, don't get stuck with the 3 P's of real estate! What are the 3 P's of real estate? They are the direct result of doing real estate the old fashion way: put a sign in the yard, put it on the MLS, and PRAY that it sells!!! 
 
Real estate doesn't work like that anymore! You need an agent who is on top of it and uses all of the tools available to get your home SOLD! Your agent is truly like a Marketing Director. There are so many tools available:  Radio, open houses, door knocking, television, networking etc. You want someone who is driven and has a vested interest in you and your home!
 
 
4. Is it LOVE at first sight?  
love at first sight
 
When buyers come into your house it has to be love at first sight.  When you are introducing a buyer to the house they'll know how they feel about it immediately. Rarely do we see a buyer who does from not liking it to liking it in the future. It's like something magical that happens! So make sure to put your best foot forward and have the best first impression. 
 
 

 

 

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This content was presented on WOKV 104.5's REAL ESTATE RADIO SHOW. You can listen to the full audio of this segment and other segments here

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