Selling your house on your own or listing with a real estate agent, but it doesn’t sell? It can be stressful to see your house languish on the market while others in your neighborhood are moving quickly. A house that isn’t SELLING can cost you time and money, not to mention your sanity. Here are five reasons your house may not be selling, and how to fix it.
Do you want to sell our home for as much as possible? Of course you do. However, an overpriced house can turn away even the most eager buyers. On the flipside, if you repeatedly reduce the price, buyers can see it as a sign of your desperation to sell – prompting them to submit even lower offers. If you’re selling your house on your own, you will have a tendency to price the house based on what you think it is worth to you. After all, you know how much money you have put into the care and feeding of the house and the details of all of the nice features you think anyone would appreciate. You might have even done your homework and know how much other homes in your neighborhood have sold for. You know what your house is worth, right? Wrong! When selling, you need professional input from someone not emotionally attached to the house. It should be someone who can expertly valuate your house and there are options. You can hire a professional home appraiser, which will cost you about $500. Or, a real estate agent can help you come up with a price comparable with other properties in your neighborhood. Most real estate agents are happy to offer this service at no charge, and best of all, you are not required to list with them. Get my FREE real estate App at http://app.kw.com/KW2GWHWY. It is a great resource that lists current values of all homes for sell in your neighborhood.
The main buying seasons for home buying in most areas is spring and summer. Don’t let this be the only reason not to list your house if you want to sell. It is never a bad time to SELL your house. So, if you sell during an off-peak time, you can still attract serious buyers – You’ll need patience and be prepared to sweeten the deal.
To sweeten the deal, you might offer incentives such as paying buyer’s closing costs or other incentives to create interest. Sometimes these incentives allow you to ask a higher selling price.
If your home is located in an unsafe or undesirable area, you will most-likely experience challenges selling quickly, or at a higher price. It can be especially challenging when it is FOR SALE BY OWNER.
Real estate agents and their brokerage firms have access to many marketing resources that the average homeowner could ever afford to access on their own. However, not all real estate agents are good marketers, so be sure to interview several agents to find the best fit for you.
To defuse concerns from prospective buyers could be to include security measures such as installing an alarm system, outdoor lighting, gates or fences.
Promote safe features of the location such as the proximity of public services, fire and police stations. You might even introduce prospective buyers to neighbors you know. This can provide a sense of community and make them feel welcome.
Investors and buyers with home improvement skills look for bargains, so they will typically offer less for a home that needs a new roof, has faulty plumbing or electrical systems, structural problems or that needs a lot of cosmetic work. The more repairs you make before buyers view the home, the more likely you are to receive competitive offers. It’s usually cheaper to do the repairs yourself than to offer allowances in the closing contract.
Another idea is to purchase a home warranty that covers items that break down after the sale. This gesture gives prospective buyers additional peace of mind about the home’s condition. There are several quality companies that offer home warranties. I recommend http://www.2-10.com/ and http://blueribbonhomewarranty.com/. However, do you research to find the best warranty that fits your budget
If everything else is lined up and your home still isn’t selling, it could be due to your marketing. In a crowded market it is import to make an extra effort to get your home noticed. Buyers usually go online first to search for homes, so make sure your photos represent your house in all its glory. It’s often a good idea to hire a professional photographer. Also be sure the home description doesn’t skimp on listing all the features, amenities and upgrades. This is where a listing agent can come in handy. They’ll be able to use their professional experience to create a marketing plan that makes your home standout.
Contact me at firstname.lastname@example.org with your real estate questions, concerns or want information about having a market analysis done on your home.
Written and compiled by Dan Rodriguez, Broker/Realtor® with Keller Williams Advantage Realty, LLC.