6 REASONS YOUR HOME WON'T SELLAre you ready to sell your home and want it to have a great first impression on the market? Or maybe your home has been listed for a few weeks or months, and you can't figure out why it won't sell, and you know your agent is working hard to market it. We've listed below the top 6 reasons your home may not make a good impression and end up stagnant on the market.
1. IT'S OVERPRICED
To be clear, an overpriced home is the #1 reason a home won't sell. In a hot seller's market, it is sometimes easy to think that your home is worth more than it actually is. If you overprice your home, instead of listing for the price it actually needs to be, your home can sit on the market for months without many showings, or a single offer. If you're thinking you need to price high to leave room for negotiations, statistics show that views for your property can drop a whopping 90% if it's priced too high. Discuss with your agent what the market indicates the value of your home is, then price it competitively to potentially get a bidding frenzy instead of low offers or having it expire.
2. LOW SHOWING AVAILABILITY
Making sure the house is clean and having to leave on a daily basis for buyers to tour the home may get a little overwhelming, but it is crucial to have open availability to have your home shown. You could end up missing out on the perfect buyer if you decline too many showings. The longer it sits on the market, the less value buyers will see in it, and the more they will worry that something is wrong with it. Talk with your agent about having advanced notice for showings, if absolutely necessary, but make sure your home is available to be shown as often as possible. 3. CLUTTERED SPACE
Buyers want to walk into a house and envision their lives in that home. This is difficult to do if your home is cluttered with personal belongings. They are instantly given the feeling of invading someone else's personal space, instead of the satisfaction of being able to see a future in your home. Make sure your property is clutter free before putting it on the market; and store away any family photos and personal items.
4. UNPLEASANT ODORS
If you smoke or have pets, it's easy to get used to the smell to the point that you don't even notice it anymore. But it's important to understand that the scent can be picked up by new people visiting your home, and it can really turn them off from making an offer. Before a showing, make sure to dispose of any garbage, don't cook fish or other strong smelling food, and ensure the home is freshened up so there are no pet, smoke or other unpleasant odors. 5. UNWILLING TO MAKE REPAIRS
Selling your home as-is may sound appealing at first, but being unwilling to make repairs could cost another mortgage payment that far exceeds the cost of repairs, if you refuse to work with the buyer on their requests and the home goes back on the market again. It's wise to be open to repair requests, and simply go over with your agent what you can afford to do and make a reasonable counteroffer during the repair negotiations, or due diligence period.
6. UNWILLING TO NEGOTIATE WITH BUYERS
It's important to have an open mind about requests that will come from buyers when it comes to purchasing your home. These requests can come in the form of price negotiations, repair requests, or even requests to cover closing costs or home warranties. With your agent on your side advising you of the best steps to take, you can with the buyers, on some of their requests, to ensure a successful closing and a win-win for everyone.
Give us a call if you would like a team of experienced agents to help you navigate the process of selling your home!