8 Reasons Your Property Wont Sell

8 Reasons Your Property Wont Sell

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1.Your property won't sell because your photos are "less than impressive".

 

Yep, this is an actual photo from our MLS, just came on brand-new this morning. Apparently the place must be really awful, 'cause the agent didn't even dare step out of her car to get close to the property.  There are no details.

 

The vast majority of home buyers begin their search for a home on the internet, so your property had better look fantastic in print…not just nice…It has to look downright fabulous. Today an internet view is the same as a 'virtual showing'... if your house passes that test, then they might (just might) make an appointment to see it in person... You should consider the in person showing your SECOND showing. Today's online viewers are expecting good quality photos  (and lots of them) ...the picture below,  taken from Google Maps, is completely unacceptable. That's a $500,000 listing!!! Take a moment and your digital camera and force your agent to go earn their commission…a virtual tour, maybe even a floor plan. 

                                                                   They need to be high-quality or don't bother. 

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2. Your property won't sell because it's overpriced.

It's important to be as objective as possible. Look at the home as though you were a "buyer"... if necessary, make an appointment with your Realtor to view other properties that are priced comparably to yours. Be brutally objective. Given the other options on the market (and yes, you DO have to include short sales and foreclosures on your list... your potential buyers are!), would YOU buy your home, over the others that are currently available on the market?

 If the answer is "NO", (again, try to be as honest as possible) Then you have your work cut out for you, don't you? You either have to "update" your home to meet or beat the competition...that might mean an updated bathroom or kitchen… 

       

…or neutralizing some decorating... remove that old wallpaper that was there when you bought the house or lower your price to adjust for it.  If you can't afford to sell it for the price you KNOW it should sell for, this may not be the right market for you to sell. Consider taking it off-market.
 

3. Your property won't sell because it shows badly.

This could mean almost anything... from the 60 pound Rottweiler barking and drooling at the potential buyers from behind the safety of the flimsiest child-gate…to the lingering smell of 30-years of smoking. Maybe the carpeting shows traffic-pattern wear or your nicotine covered windows allow in slightly less than daylight. All things that aren't visible from the internet, but “whoa”.... “once you get inside the house... they show up like a urine-soaked-shag carpet on 95 degree day in New Orleans!”

4. Your property won't sell because you're invisible.

Today's buyer comes from the internet, almost exclusively. Have you (or your agent) simply plopped the property on the MLS and started praying? Are you on all the websites...Trulia, Zillow, Craig's List, Google Base, etc...all the places that buyers are searching? If not, you need to be, now! Don't try to be a secret, in today's electronic world. You want to be found. The sooner the better. If you're not making full use of the internet today, you're out of business before you've started. C'mon people! Get on board, the train is leaving the station… (I love a good train metaphor)

5. Your property won't sell because your listing is tired and stale on the market.

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Okay... yes, you overpriced your home initially when you first came on the market a year and a   half  ago. But since then you have reduced your price almost monthly, constantly chasing the market down. Now, finally you're truly priced where you believe it should be, but your listing  (not your house) has become tired and stale. Everyone who is looking for your type of property (ie: 3br/1.1 bath) in your area has already seen the listing online, or in person and they remember that there was "something" about it that they didn't like... but what they don't remember is... what   they didn't like.... was the price. Time to take the listing off market. Let it cool off (3-6 months), and bring it back on fresh in the Spring. Yeah, you'll  have 6 mos. worth of holding-costs... but you'll more than make up for it in your purchase price.

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btw... Resist the temptation to bring the house back on at a higher price than when you left the market, 

Just don't do it


 

6. Your property won't sell because your house won't appraise.

The house looks great... you've finally gotten someone to bring you a bid on your slightly over-priced but beautiful pied-a-terre, but the bank appraiser says it's worth $20,000 less than your buyer has agreed to pay. (Heavy sigh)... bite the bullet.... negotiate with them. If you have to drop the price $20,000 to make it work.... "make it work"... chances are, anybody else trying to buy your house will run into the same problem. If you're not willing to negotiate the difference, you may find yourself with no buyer and accepting a lower offer somewhere down the line. Appraisals carry a great deal of weight these days.

7. Your property won't sell because it's unavailable to show.

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You have a baby and a 1-year old, and they need their naps. So you've told your Realtor in no-uncertain-terms, that you'll only allow showings between 9:00 a.m - Noon, and then again from 2:30-5:30 p.m…and no showings on Saturday or Sundays. "After all", you've told him "we still live here…it's our home!"…Well guess what?...             They can't buy it if they can't see it. As good as your online photos are, they are no substitute for an in-person  visit. "If they really want to see it, they'll reschedule", you're already answering as you read this. Nonsense! What they'll do is, they'll just move on to the next property in line (there are dozens like yours available) and maybe they'll buy that one instead. Once you put your property on the market, it stops being your "home" and becomes your "product" and you want your product to be seen by as large a buying audience as possible.

8. Your property won't sell because you have the heat and power turned off.

Okay... maybe it's an REO, or maybe you're no longer living in the home. But viewers need to be able to feel comfortable when they've viewing your home. You want them to spend time in the home and get a sense of the place. You don't want them standing in the darkened foyer shivering, breathing on their hands to keep their knuckles from freezing in position. If they can see their own breath, the house is too cold. It's just not an invitation to spend time in the home. Have the power on, and leave the heat running…at least high enough to keep viewers from shivering.       

It doesn't have to feel like a tropical paradise, but it shouldn't feel like the north pole, either. Ain't nobody gonna' buy that igloo.