Why isn’t my home selling while others are?
That’s a question many of us are asking. Well, there are many reasons why some homes are sold in a heart beat. Today let’s take a look at the opposite. A home that doesn’t sell is also due to a variety of factors, it could be the economy, the overall market conditions, or other factors that are out of your control. Fortunately, there are a few factors you can take control.
Putting the market condition and everything else aside, let’s start with the things you can control, which I believe are the most important ones.
The Condition of Your Home.
The longer we live in a home, the more accustomed to imperfections we become. The crack or peeling paint on the wall started out as an imperfection and has now turned into “character”. Remember, the potential buyers that walk through your home is there for the first time, so we need to start making that first impression from outside.
Curb appeal, it’s exactly what those words mean. Don’t spend money on a complete makeover, but cut that grass and touch-up the house where needed, and do the necessary repairs. On the inside (assuming you and your family still live there), keep it simple. Clean, tidy, uncluttered, and put away anything that is personal. Depersonalizing the home allows buyers the freedom to visualize themselves living there, without you.
Getting The Help You Need
Call a professional when you need one. If work is needed on the house, get help. The last thing you want to do is DIY everything and everyone can tell you did it yourself on a spare weekend. The same goes with hiring the right REALTOR® to help you through the process. (I can hear some eyes rolling.) Yes, there are horror stories about REALTORs®, but that’s unavoidable just like any other industry or profession. Good news is not all REALTORs® are out to get you. A good REALTOR® is valuable especially when he or she professionally guides you from the start to finish. If you don’t know any good REALTORs®, let me know.
Exposure and Spreading the Word
In today’s market its not as simple as sticking a “For Sale” sign on the lawn and buyer’s will come piling in. Buyers are out there, but how to reach them is the question. Newspaper? Internet? Craigslist? Local community bulletin board? Open houses?
Have a clear and precise marketing plan or strategy is needed to successfully promote a home. Remember, no single aspect of marketing sells a home, it’s a combined effort. When you hire a REALTOR®, ask about a marketing plan for your home.
Knowing Your Product
When selling your home, you need to take a step back and objectively review the marketability of your home. I find that 8 times out of 10 home sellers will be telling me that their home is better than the one down the street that sold. That may be true, but is that based on an objective observation? As a seller, you must see the good and the not so good characters of your home. Know your strengths and weaknesses. Your REALTOR® can help you identify them and determine how to overcome those challenges.
PRICE. Yes, I said it and I’ll say it again, PRICE
Any home can be sold at the right price. If that’s not true then none of the homes across from cemeteries or next to busy roads can be sold. Pricing can be tricky because it can be affected by various factors. Since every home is different, so can be the price. There are different approaches when it comes to a listing price. Some people like to list high fishing for buyers and leave plenty of room for negotiation, while others want to list low and hope for competing offers. Just remember the first 3 weeks of a listing is critical. You can do everything else right but the wrong price can ruin all your efforts. So do your homework and don’t forget to consult your REALTOR to determine what price should be set to bring maximum exposure and eventually a sale of your home.