When a home is in a great location, in good shape and priced correctly for the market, but still doesn’t sell for weeks or months, it’s a sure bet that the owner is committing one of the Seven Deadly Sins Of Home Selling. Any one of these Sins is powerful enough to throw a monkey wrench into any deal.
There are lots of sins that a seller could commit to make a home sale difficult, but I’ve selected these seven as sins that have a solution (penance…). Here they are.
1. Don’t De-Clutter
Buyers can’t see the great features of a home if those features are buried under mountains of clutter, hidden behind art that covers entire walls, or covered by area rugs that conceal beautiful hardwood flooring. Penance: Less is more. If you have to, rent a storage unit.
2. Don’t Have The Property Inspected and Repaired
Everyone likes a surprise, unless that surprise makes the property uninhabitable, inoperable, or expensive to repair. Penance: Hire professional inspectors (general property, roof, plumbing, electrical, termite, etc.) and correct problems before putting the home on the market.
3. Sell The Home Yourself Or With A Discount Broker
Buyers don’t want to deal with a home owner or a discount broker, neither of whom are available daily to handle the details and deadlines of real estate paperwork and transaction procedures. Even if you do get offers, expect a lower price. Penance: Hire a qualified, professional broker and let them do their thing.
4. Restrict Viewing Hours
Making it difficult to view the property simply reduces the number of potential buyers who see the property and might make an offer. Penance: Schedule open houses and viewing times that fit the average person’s schedule. Be flexible with special requests.
5. Let Large Pets Roam Freely
To you, it’s a harmless, loving pooch that wouldn’t hurt a flea. But to a potential buyer who finds your 200 pound pachyderm jumping on them and clawing tears into their $2,000 Italian silk suit or getting frisky with their leg, it’s a hound from hell. Many buyers won’t enter a property if animals are known not to be contained. Penance: Build a dog run (DON’T use the garage or one of the rooms a buyer needs to see when they view the property) or arrange for your little buddy to be off-property during viewing hours.
6. Vacation At The South Pole During The Listing Period
The most frustrating experience for a buyer – and your broker – is to have a great offer on the table and no seller available to accept, counter or reject it. Penance: Plan vacations and business travel around selling activities – be available. When trips are a must, get up to speed with the broker’s remote document access and signing systems. Advise your broker when you will have unavoidable “communication black-out periods” so that he can advise potential buyers of accurate offer response times.
7. Make Your Sale Contingent On You Finding Another Home
In my neighborhood homes sell in less than two weeks. The only exception is a very nice and competitively priced home that has been on the market over three months. This home has a seller’s contingency that delays close of escrow until the seller finds a new home and closes escrow on it. The seller has been looking for three months and can’t get an offer accepted, probably because their offers are contingent on selling their home. No sane buyer wants to enter into a purchase contract without a firm closing date unless they know they’re buying the property dirt cheap. Penance: Arrange for temporary living and storage if you must, but remove all seller contingencies.
Hope you found this information helpful. If you have questions about the Seven Deadly Sins Of Home Selling or need help selling a home or investment property in today’s market in Silicon Valley, East Bay or the Wine Country, drop me a line. Contact Us
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John A. Souerbry & Associates (DRE 01370983)
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