Five Reasons Why Homes Don't Sell
You’ve heard it said that there are two reasons why homes don't sell—price and condition, or a combination thereof. I'm here to tell you that there are actually five reasons why homes don't sell:
1. Price – Price is determined by your local real estate market, not by your Realtor®, and not by you. When you insist that your property be priced above the current market, your property will not sell. When real estate agents agree to such tactics, it’s called buying the listing. They agree to your price just to get the listing. Once they secure the listing, they continuously ask for price reductions. It is so important to price your home right in the beginning. It is a proven fact that you will receive the largest number of showings on your property in the first six weeks on the market. You can see why it is so important to price your home properly when it hits the market.
2. Property Condition – This refers to the livability of your house. Is your house in move-in condition? Is there deferred maintenance? Are the walls freshly painted? The carpets recently cleaned or replaced? Are all your appliances and fixtures working? These are all things that must be addressed prior to putting your house on the market. A property with deficiencies may not sell unless you make concessions such as price.
3. Market conditions – Market conditions refer to the number of other properties that are currently on the market in your area. The more properties that are on the market, the longer a house takes to sell. Market conditions are also influenced by other factors including, but not limited to, the current economic market, the current unemployment rates, current financing guidelines and Acts of God, such as flooding. All of these factors determine whether you are in a buyer’s market or a seller’s market.
4. Seller – Sellers can actually hinder the sale of their property by having unrealistic attitudes about showings and the condition of their home. A seller that limits the number of showings to certain hours or insists that he or his agent always be present for showings, may limit the number of buyers that actually view the property. A seller also must agree to keep his house in showing condition every day. Beds must be made, dirty dishes need to be washed and put away, bathrooms and kitchens must be clean and rooms need to be de-cluttered. These things factor into a buyer’s decision of whether to make an offer or not.
5. Real Estate Agent – Your agent must be qualified and experienced enough to work in the current market. He/she should be knowledgeable in marketing your house to the virtual world of the Internet.
Look at your home through the eyes of a buyer. Each of these areas are all within the control of you as the seller. You are trying to sell your most valuable asset. Why would you want to do anything that would hinder the sale of your home?
If you are looking to sell your Franklin TN home, please contact Tammie White today at (615) 495-0752.
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Copyright © 2011 By Tammie White, All Rights Reserved.*Five Reasons Why Homes Don't Sell*
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