Five Reasons Homes Don’t Sell
It can be stressful to see your home languish on the market while other homes in your neighborhood are moving quickly. A home that isn’t selling can cost you time and money, not to mention your sanity.
Of course you want to sell your home for as much as possible. But an overpriced home 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. Your listing agent can help you come up with a price comparable with other properties in your neighborhood. A professional home appraiser may also be able to help. Home values fluctuate with the local market. Pricing your home right is the biggest key to achieving the GOAL of getting your home SOLD. If you are curious about homes that are for sale in your neighborhood, use our Market Snapshot Tool.
It is a seller market? Is it a buyer market? And what is the peak season in your area? Peak season in Gainesville varies. If it’s a family move, then summer season is peak. But our professional & career change market is all year long. If you must sell during an off-peak time, you can still attract serious buyers – but you’ll need patience and ways to sweeten the deal. To offset bad timing, you might offer incentives such as paying some of the buyer’s closing costs and offer a home warranty plan. To attract interest among real estate agents and brokers, consider offering a selling bonus above the standard commission. Just make sure you stipulate it’s available only if the agent brings a full-price offer to the table or closes the sale on your preferred date.
You’ve heard the term: Location, Location, Location. Is your home in good school zones, near a local park, easy access to shopping? Make sure your marketing materials highlight local issues for your home and neighborhood. Additionally, promote any practical and safe features of the location such as the proximity of public services: fire and police stations, public utilities, and the neighborhood ammenities. Also offer to 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. Remember that you want your home to have “wow factor” to the buyers! A good first impression is your Gainesville home’s curb appeal when they pull up out front!
If everything else is lined up and your home still isn’t selling, it could be due to your marketing. Particularly in a crowded market, it’s 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. Also be sure the home description doesn’t skimp on listing all the features, amenities and upgrades. This is why you should consider listing your home with THE BOHN TEAM at RE/MAX in Gainesville. We will be able to use our professional experience to create a marketing plan that makes your home standout in the Gainesville market.
Remember, when you’re ready to start the process of selling your Gainesville home, help is just a phone call or email away.
***** Originally Posted at GainesvilleRealEstateTalk