If you are ready to sell your home, your primary goal is to sell it as quickly as possible. After all, having your home on the market is stressful. If you have listed your home and find that it's just not selling, there is a reason. Here are some potential reasons why your home may not be selling, and what you can do about them.
Through my years as a Realtor in the Raleigh area, I have seen listings linger on the market for weeks and even months. These houses always prove to be huge opportunities for my buyers because many times, the sellers have reached a point of desperation and will accept a much lower offer. This may even come after many price reductions along the way. And sad to say, I have shown "lonely" empty homes that are not staged, with smoke alarms chirping, that smell musty and, have broken fixtures. I am also surprised when I see a front photo online that is clearly taken with a cell phone, is dark and has room shots of open toilets, clutter-filled rooms, bad wallpaper and so forth. When buyers see these things, they will make low offers or move-on to other listings. These are extreme cases, but even when the photos are great, if the price is too high or the seller won't negotiate, the best of houses can sit on the market.
You Priced It Too High
Pricing real estate is a tricky process. Often, sellers want to get as much as possible for their homes and set the price based on factors like what they paid for the property or the amount of money they have put into it over the years. However, your home needs to be priced realistically based on current market conditions, which can vary wildly from year to year and house to house. A realistic price that is competitive with current market conditions will help your home get more interested buyers and a faster sale. And by no means should your Zestimate be your pricing guide. I had a nice couple who scored a smoking deal on a home after this lovely home was overpriced at the peak of the Spring market in Raleigh in 2016. Later, in the fall of 2016, my buyers purchased the home the home for almost $40,000 below the original list price of $360,000.
The House Is Poorly Staged
Staging is an essential part of selling a home.Staging refers to arranging the decor and furniture so that it makes the home as appealing and inviting as possible. The home needs to be clean, uncluttered and has the furnishings carefully arranged to make it feel large and inviting. Before listing your home for sale, consider removing some of your belongings and placing them in storage to make it feel roomier and eliminate clutter. Once the home sells, you can have those items moved to your new home. If your home is empty, I always recommend staging the home so buyers feel at home.
The Home Is in Poor Repair
People don't want to buy your problems. When they tour your home and see obvious signs of neglect, they are going to look elsewhere for a home to purchase. Before listing your home, take the time to do the necessary repairs. While it's frustrating to put money into a home you're planning to sell, remember that most repairs — such as a dripping sink or damaged drywall — do not cost much. What’s more, doing the repair will go far in making your home sell quickly. I recently advised a couple to make repairs on their home prior to the buyer making an offer. We were able to secure a great offer for this home because we could give the potential buyer confidence that the home was well maintained and in top condition.
Poor Photographs in the Listing
Today's homebuyers are looking online before they ever schedule a showing on a house. This means that the listing photographs you use for the property need to be outstanding. Make sure your agent is taking good-quality photographs that showcase the home in an excellent light — using as many photos as possible in your home’s listings. A listing with only a few pictures or poor-quality photos will not get showings. When I market your house, I use only professional photos and always include a virtual tour so that the potential buyer can see themselves living in your home. This is an absolute must if you are selling a luxury home in Raleigh. For estate homes, I always include aerial photos of the home, neighborhood amenities or nearby attractions to show how a potential buyer how your home fits your their lifestyle. This means you will likely see more potential buyers actually come and tour your home. More showings mean more demand for your home. What this means to you is a better chance for an offer and likely a better offer.
Not Being Ready for a Showing
If an agent calls with a buyer who wants to see your home right now, and you aren't ready, you will miss a potential sale opportunity. How can you be ready for a showing? First, keep your home clean at all times, so all you have to do is put away a few items when an agent calls. Second, have a place you can go with your kids and pets during a showing. Being in the home will prevent interested buyers from really inspecting it well, so make plans for where you will go. Finally, keep the exterior of your home in good repair with the lawn and foliage trimmed, so you can show the home at a moment's notice. The market in Raleigh is HOT and in many price points, the best listings can fly off the market in a weekend. I advise these sellers to get the home cleaned up, outside spruced up and ready to show and then take a nice weekend getaway. This way so the home can be shown immediately when requested and it looks its best.
Unwillingness to Negotiate
Buyers expect to have some room for negotiation. Be sure to price your home accordingly. Working with a real estate agent can help you determine whether or not the terms the buyers are requesting are fair in light of current market conditions. However, make sure you always leave some wiggle room for negotiation. Remember that you must sell your home to the potential buyer and to the buyer's agent. A good buyer's agent knows if a home is overpriced and will advise their client to negotiate.
I cannot stress enough the importance of hiring a professional like me so that you are armed with all of the data and the best marketing strategy. Nothing is better than local market knowledge and expert skills. And the most important thing is to hire a professional who understands your needs and who you trust to get your house sold.
Co-Author bio: Kate Houston is Director of Client Services at Ward North American. She attended Minot State University, and has more than 25 years of experience in the transportation and relocation industry.
CONCLUSION:
Remember, buyers are looking to get a deal. They want a beautiful home that is ready to move into, at a fair or discounted price. If your home is not selling, it's likely because you aren't meeting these needs well. Take some time to evaluate the home, your price, and your marketing — and determine where you can make a change to help your home sell more quickly. Why do you think YOUR home didn't sell? Call me for help. 919-600-3208.
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