Are you trying to sell your property and it’s been sitting on the market for days, weeks, maybe months with no action or offers to speak of?
– Or –
Perhaps you listed your house on the market, and it never sold?
Many times, there are extenuating circumstances that impede a property from being sold. However, most often, the truth is that there are typically three common themes that lead to a property’s inability to sell. These are the Top 3 reasons why your property hasn’t or did not sell.
The third most common reason why your property hasn’t sold is due to ACCESSIBILITY!
Do you have nasty tenants who have not allowed potential buyers or agents into the property to properly view and visually inspect it? Selling with tenants can be more than challenging and often they can stand in the way of allowing suitable buyers and potential offerors from bidding on the property and getting you into escrow!
The name of the game is getting eyes on your property and enticing them to bid on your house.
Maybe, you are standing in the way. Do you have a nearly impossible schedule that is less than “Showing Friendly”? Maybe you work from home, you have a day sleeper or a newborn child, so you’d like buyers to work around your schedule. This is totally understandable, and as realtors go, we typically like to work around your schedule to inconvenience you as little as possible. However, there is a point where we need to have a “come to Jesus’ talk about accessibility. The name of the game is getting eyes on your property and enticing them to bid on your house.
Though beautiful pictures and online marketing help with visibility, the truth of the matter is that most buyers want to physically be in the property. They want to personally experience the property, something you can’t do online (yet). Thus, it is of the utmost importance to allow buyers as much access as possible.
This is an easy fix! Having more and frequent access to the property will lead to more foot traffic and typically will manifest offers–which is why you have your property on the market in the first place!
The second most common reason why your property has not sold may have to do with its condition.
Ask yourself this: Is your property indeed a fixer and are you marketing it as a luxury property? All kidding aside, the condition of your property has a lot to do with the number and level of offers you are obtaining. Does your property have curb appeal or is it the ugly duckling of the street? In what condition is the interior? Is it dirty, cluttered, in need of repairs and maintenance?
Dig deep and put yourself in a buyer’s shoes. Most Buyers (9 out of 10) do NOT have the visualization skills to see themselves (their furniture, their color pallet, etc.) in your property. So you need to help them by decluttering, cleaning and making the property look and smell brand new.
Think of making it as generic as possible because when it comes to staging your home for sale, LESS IS MORE!
It starts with depersonalizing the property–taking down all those lovely pictures of your kids and finally getting rid of that hideous table your mother-in-law gave you, and possibly painting that beautiful blood red accent wall with a neutral color. Think of making it as generic as possible because when it comes to staging your home for sale, LESS IS MORE!
The number one reason your property has NOT SOLD is… drum roll, please…
Yes, I said it, PRICE! It’s that simple. You and your current, or previous, real estate agent is/was too scared to tell you because they most likely didn’t want to make you upset.
Look, I’m not going to pull any punches, I’m in the business of Selling Homes, not just putting them on the market. Price, along with a buyer’s perceived value, is the key to moving your property. I’m not saying that you need to give away the property by discounting, but you do have to play with market forces and do some fantastic PR!
You might be thinking, “Well how the heck to do I price my property smartly and still make Top Dollar?” Phenomenal question! The key is to account for the size and scope of your property, along with its upgrades, features, and benefits compared to the most recent sales in your neighborhood, factor in economic and market conditions (along with the aforementioned reasons) and price it right!-Just like Goldie Locks, not too hot, not too cold, just right baby!