Seven Reasons Your House Didn’t Sell
The housing market is humming again with demand in some categories higher than supply. If you listed your house but weren’t successful in selling it, you may need to evaluate why. There are some typical reasons why people won’t buy a house.
- Was your MARKETING effective? In today’s world of the Internet, you have to take advantage of all technology has to offer. If your house isn’t shown to its best advantage in the most outlets possible, odds of selling are poor. Dramatic photos and compelling descriptions on as many websites as possible drive buyer traffic.
- Does our house NEED UPDATING? This doesn’t mean you must to do a major renovation. While structural and safety repairs are necessary, sometimes all you need is a fresh coat of paint in a couple of important places. Yes, you can market your house as a “fixer-upper,” but today’s buyers are busy. If you need more than a simple fix, digitally rendered ‘design concepts’ will help. Did you know only 15% of us could actually imagine something we can’t actually see? Further, most buyers are unwilling to do a major remodel since families would rather spend their weekends relaxing. This is especially true in a secondary home market or with a two-income family.
- Were there SIGNS OF DEFERRED MAINTANENCE? If your roof leaked and you repaired the leak but didn’t fix the ceiling damage, most buyers assume there is still a problem. Take the time to repair the visual damage now that the cause is taken care of.
- Was there TOO MUCH OF YOUR PERSONALITY in your house? One of the most important steps to higher yielding contracts is to de-personalize your house before you put it on the market. A buyer needs to be able to imagine their family living in your house and they can’t do that if you have too many personal mementos or a too specific design theme. Staging can help with this process and some real estate firms offer digital staging services that can help a buyer see a home’s true potential.
- Were you INFLEXIBLE? Certainly, it’s an imposition to keep your house perfect just in case a buyer wants to see it. There are organization tips and tricks that can help you deal with everyday clutter. And sellers who want their agents to accompany every showing don’t realize the agent who represents the buyer will avoid this situation. They can’t have confidential discussions at the house if the agent who represents you can overhear. Remember, buyers are often last minute and want to view your house privately with only their agent present.
- Was your house POORLY LOCATED or POORLY DESIGNED? No, you can’t fix either problem, but there are successful ways of dealing with them. The right PRICE will fix any issue. And, the correct advertising can turn your negative into a positive for the right buyer.
- Was your PRICING too high? The single biggest factor according to most real estate professionals, is not pricing within the current market. Remember you can’t control market prices. You can only control how your react to it. Buyers don’t make offers on homes they think are overpriced.
If you had trouble selling your home NOW is the time to bring in a neutral, objective third party to make suggestions. Inventories are low, prices are beginning to rise, and buyers are out looking with a vengeance.