The housing market is booming. Houses in your neighborhood are selling in days. Weeks tops. Except for yours. You ask yourself, 'Why is my house not selling?'
Once in a while, we'll hear similar stories. It's common, but frustrating for the seller nonetheless. There are several reasons for a house not selling, and it usually begs for you, the seller, to stand back, reevaluate and take a hard look at your home and your process to attract buyers.
Give your home a fearless inventory
Recently we blogged about why sellers need a real estate agent, because they consider small but vital details a seller may not think of:
- Is there a room that could use a coat of paint?
- Does the deck need a new board or two?
- Are there water stains on the basement floor?
- Does the yard need a bit of landscaping?
- Are the gutters in subpar shape?
These are usually easy fixes. However, they give the buyer negotiating power, a reason to bargain lower. Sellers need to put themselves in the buyer's shoes.
Accurately pricing your home is a significant aspect of selling that a top producing agent can help you with. Just because other homes in your neighborhood are sold for X, doesn't mean that you can necessarily sell your house for more than X. Too often, sellers price their homes too high, wishfully high. In most cases, the seller receives less-than-flattering offers, or no offers at all. When that happens, your home can get "stale" on the market which means that you won't get the showings that you'd like. Pretty soon you'll have no choice but to reduce your price.
The house is lovely...but...how old is that furnace?
We're not only talking about the furnace -- consider other household appliances such as the water heater or the refrigerator. How old are your appliances? And do they reflect their age? When showing off your home, the age/appearance of your appliances can be a major influence in negotiation with prospective buyers.
Your photos don't do your home justice
You've decided to list your home, host an open house and you can't wait to get the process rolling. You cut the grass, add a coat of paint here and there and trimmed the hedges. You've done your due diligence and taken shots of every room. But for the external shots of your home, it was cloudy. Or the lighting wasn't the greatest. We're not advocating hiring a professional photographer to photograph your home (unless you prefer), but keep an eye on the weather when you do. Photograph your house in the best light possible. If you're really ambitious and motivated, hire a production company that can create a virtual tour of your home.
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