Real Estate AdviceDec 01, 2020 09:14AM ● By Pete Sabine
Real Estate Advice
Why Your Home Has Not Sold
By Pete Sabine
After putting your house on the market, you might be hoping for a quick sale —especially if you've invested a lot of money to improve the house or your neighborhood is in high demand. While you should not panic if the house does not sell right away, you should be concerned if you haven’t received an offer after six weeks. Here are some reasons your house may not be selling:
The asking price is too high If your house is overpriced, it is not going to sell. The longer your property stays on the market, the less likely it will sell at the asking price. Compare your property to similar properties that recently sold within your area to get an accurate idea of its true value. Do not make the mistake of adding 100% of the cost of any renovations you made. The cost of all renovations does not always translate to equivalent added value.
Poor presentation If the listing of your home has a poor description and/or amateur photos, most buyers will not want to visit. Make sure your Realtor creates a listing that attracts the attention of buyers with professional photos and videos of the interior and exterior of your home.
Houses that smell do not sell A dirty house leaves a bad impression on buyers. Hire a professional to thoroughly clean the interior, including appliances, carpet, and windows before showing your house.
Lack of emotional appeal If your home is vacant, do not show an empty house. This makes it difficult for buyers to imagine living in it. Stage your house with furniture and decor to give buyers a sense of space and how it can be used. You want the buyer to feel at home when they tour your home.
The décor or remodeling is too personalized Take down your personal décor so buyers have an easier time imagining living there. You might think that dark paint and fixtures in the master bathroom is incredible, but that does not mean potential buyers will agree. If your home improvements or decor are too personalized, most buyers will not get past your unique style and choices for fixtures and finishes.
Less is more If you have too much furniture, it will make the house feel smaller than it is.
Too many repairs are needed The more repairs needed, the less likely a buyer will want your house. Many buyers do not want to deal with the cost or effort of doing repair work, even if it is just small repairs such as tightening a handrail or replacing a broken tile.
The market trend changed Sometimes a hot market can temper by the time your home is offered for sale. Your Realtor should be monitoring competing homes for sale and the supply/demand ratio and communicate with you to make any adjustments in your marketing strategy.
You hired a novice Realtor A seasoned professional Realtor makes all the difference in selling your home at the highest possible price within a reasonable period of time. The common mistakes on this list can be remedied, however, one of the best ways to avoid making them is by hiring an experienced Realtor.
We know how to set the stage for your success. Call us to win with us! Pete Sabine & Leslie Whitney: 925.297.5335. Discover more real estate pro tips. Find our podcasts at FiveStarRealEstateTeam.podbean.com. Compass #01866771.