6 Reasons why your house won't sell.

By
Real Estate Agent with Coldwell Banker Residential

1. Your photos are unimpressive. The vast majority of home buyers start their search for a home on the Internet, your house had better look great in print. Not just nice... downright fabulous.  Today we are considering internet views as a 'virtual showing'... if your house gets past that, then they might (just might) make an appointment to see it in person... We consider that your SECOND showing. Today's buyers are expecting good quality photos (and lots of them... just 1 shot from the street won't cut it!), a virtual tour, maybe even a floor plan, if applicable.

(btw... for those who've asked, and have them in their areas... I use Video Home Tours..[vht]... they offer incredible pricing partially subsidized by Coldwell Banker... and it's honestly cheaper to have them do it, than for me to spend my time on photoshop... and they offer professional quality.)

2. It's overpriced. You've got to view your own property as objectively as possible.  Look at the home like a "buyer"... if necessary, go out with your Realtor and view other homes that are priced comparably to yours.  Be objective.  Given the other options on the market (and yes, you DO have to include short sales and foreclosures on your list... your potential buyers are!), would YOU buy your home, over the others on the market?

If no, then you either have to "update" your home to meet or beat the competition... or lower your price to adjust for it.  if you can't afford to sell it for the price, that you KNOW it should sell for, you may want to consider just removing it from the market.

3. It shows poorly. This could mean almost anything... from the barky, barky dog, to the smell of the diaper pail.  Maybe the carpeting is a bit worn, or the woodwork shows a lot of wear.  All things that don't show up on the internet, but whoa.... once you get inside the house... they show up, like a cat-urine-smell on a 95 degree day in New Orleans!

4. You're invisible. Today's buyer comes from the internet, almost exclusively.  Have you (or your agent) simply plopped the property on the MLS, and started praying?  Are you on all the websites...(Trulia, Zillow, Craig's List, Google Base, etc...) all the places that buyers are searching?  If not, you want to be.

5. Your listing is tired and stale on the market. Okay... yes, you overpriced your home initially when you first came on the market 2 years ago.  But since then you have reduced your price almost monthly... constantly chasing the market down.... Now, finally you're truly priced where you should be... but your listing is tired and stale.  Everyone looking for your type of property (ie: 3br/1.1 bath) in your area has already seen it, sometimes twice... and they remember that there was "something" about it that they didn't like... but what they don't remember is... what they didn't like.... was the price.   Time to take the listing off market.  Let it cool off (3-6 months), and bring it back on fresh in the Spring.  Yeah, you'll have 6 mos. worth of holding-costs... but you'll more than make up for it in your purchase price.

btw... Resist the temptation to bring the house back on at a higher price, than when you left the market.  Just "don't do it"!

6. Your house won't appraise. The house looks great... you've finally gotten someone to bring you a bid on your slightly over-priced, but beautiful pied-a-terre.  But the bank appraiser says it's worth $20,000 less than what they've agreed to pay.  Heavy sigh... bite the bullet.... negotiate with them.   If you have to drop the price $20,000 to make it work.... "make it work"... chances are, anybody else trying to buy your house will run into the same problem.

Posted by

 ALAN MAY, Realtor®


Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 1710 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

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Re-Blogged 47 times:

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Rainmaker
199,285
Mark Velasco
Sharpstone Realty, Inc - Whittier, CA
Listing Agent-Whittier & Surrounding ciities

Great advice Alan. Thanks for taking the time to share.

Aug 23, 2009 05:51 PM #174
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Patricia - I've never been able to affect that railroad change... you?

Mark - thank you...

Aug 24, 2009 12:58 AM #175
Anonymous
Sue Derby

Excellent points.  I'll be sharing them all with a tired listing of mine. 

Aug 24, 2009 11:07 AM #176
Rainer
5,571
Megan L. Kepler
ERA Martin and Associates - Chillicothe, OH

Great Post!!  I couldn't agree more!!

Aug 27, 2009 02:08 AM #177
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Sue - I hope they enjoy them.

Megan - thank you.

Aug 27, 2009 09:09 AM #178
Rainer
6,429
Clare Dove
EyeFiMedia Property Marketing Experts - Cambridge, ON

I agree, a good set of photos or a virtual tour can do wonders as more and more Buyer's are turing to the internet to look for a home BEFORE picking up a phone. Plus any good Virtual Tour provider will syndicate your tour and listing information out to multiple websites for you!

Aug 28, 2009 03:05 AM #179
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Kimberly... it sounds so simple, doesn't it?

Aug 28, 2009 03:30 AM #180
Rainmaker
76,546
Nathan Strauch
Hot Shots Digital (HotShotPros.com) - Denver, CO
Colorado Real Estate Photography & Video

Very good post!  I am a real estate photographer, and found that allot of RE Pros are attempting their own photography and failing miserably.  With this in mind, we have begun doing mandatory SEO for every Virtual Tour and client listing.  It has really helped us establish a niche, but the most important part of all of this is that we are able to provide our clients with a service that no other VT provider in our area can.

The internet cannot be overlooked, and if an agent doesn't know how to use it to the fullest...  they really should look into finding a company like ours.  It will not be the sole reason that a home gets sold, but it will without a doubt help immensely.

Great Post, and thank you! 

Sep 21, 2009 04:11 AM #181
Rainer
20,973
Lydia Pollard
RE/MAX Realty Specialists Inc. Brokerage - Mississauga, ON

Great Post

Lots of good points.  Especially the bad photos,
no excuse for those in today's day and age.

Oct 03, 2009 05:47 AM #182
Rainmaker
1,003,187
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Wow Alan:  Looks like you got hit with three SPAM comments in #'s 189,190 and 191.  I suggest you DELETE them, and do NOT CLICK on any of the links.  They can lead to a virus, a trojan horse, or worse.  I will report them to Active Rain.  I suggest you do the same.  Take care...

Oct 20, 2009 09:21 PM #183
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Karen - i have reported all three.... but I have not deleted them, as Jeremy has asked that we report them, and then leave them in place, so he can figure out who they are and effectively block them.

Oct 21, 2009 12:43 AM #184
Rainmaker
1,003,187
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Alan:  Good !  I had not seen Jeremy's request to leave them in place rather than to delete them.  My fear, of course, is that some of the Newbies might get curious and click on the links, and then who knows what that will lead to.  Take care...

Oct 21, 2009 03:27 AM #185
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

I know... I wish I could paste a "censored" banner across those three... but ah, well.  Thanks for the concern Karen.  I appreciate it.

Oct 21, 2009 03:36 AM #186
Rainmaker
449,711
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Hi Alan~ I have to agree with your reasons above.  The biggest culprit it that it is overpriced!

Nov 23, 2009 05:14 AM #187
Rainer
154,089
Sasha Miletic - Windsor Real Estate
RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Alan,

Very excellent post. Keep posting. All the best. Happy New year.

 

Best - Sash

Dec 30, 2009 03:40 AM #188
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Vickie - thank you.

Sasha - thank you very much... I do what I can.

Dec 30, 2009 05:41 AM #189
Rainmaker
1,313,225
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Tis post hit the nail on the head.. very insightful.. and I think it should be given to all sellers at the time of the listing appointment :)

Mar 06, 2013 11:15 AM #190
Ambassador
1,435,541
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Joan - why thank you, ma'am.

Oct 15, 2015 07:19 AM #191
Rainmaker
355,924
Debra B Albert, PA - Keyes Realty
Keyes Realty Treasure Coast, 34986 - Port St Lucie, FL
Ron and Debbie 772.708.3292

This blog is excellent AND timeless!

Oct 17, 2015 05:13 AM #192
Ambassador
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Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Debra - well, I keep breathing life into it, anyway... but thanks.

Oct 17, 2015 05:43 AM #193
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