For a home seller, nothing can be more frustrating than having your home sit on the market for months on end. Probably years. You could be having buyers come tour the house, sure. But they are not making offers, and the ones you get are not decent enough. Or just maybe, there are no buyers visiting your home at all.
Whichever the case, you are feeling dejected, as any normal person would. And we’re here to make you feel better – by helping you get your house in order, literally and figuratively.
Did you know the reason that most homes sit idle on the market for long periods has to do with few issues totally within the homeowner’s control? That’s the good news. But you probably didn’t, otherwise you would have gotten to the bottom of it, no?
Anyways, it could be due to any one or a combination of the following reasons.
Your home is priced too high
This is a favourite miscalculation many sellers are fond of making – pricing a home based on the figure they think it should be worth. Let’s not kid ourselves, no one wants to short-sell their property. So if you arrive at the sale price based on your attachment to the property as opposed to the current market value, chances are it will be on the market for the foreseeable future.
If you have no way of figuring out you property’s actual value, a trustworthy local real estate agent can be of help. But if you are resolute on getting your ideal asking price, perhaps it would be a good thing to get honest with yourself and figure out if there are some upgrades needed. Or maybe bid your time in anticipation of a market uptick. But don’t wait too long.
No one knows your home is for sale
Now that you have a ‘For Sale’ sign smack on the edge of your lawn, you may think ‘Ah, let’s now wait for some calls!’
But it doesn’t work like that, sorry.
Most buyers today scour for properties online, whether it’s on the major listing service (MLS) used by brokers and realtors or on major real estate sites. Join the bandwagon, the least you could do is play your part, right? While you are at it, make sure your online listing boasts high-quality, well-staged images – use original photos though.
Your home has some major issues
Issues could be anything really – small, obnoxious ones that buyers cannot wrap their heads around (such as outdated carpeting or wall paper) or big ones like roof problems.
Either way, there could be something buyer after buyer is finding wrong with your property and that’s why it isn’t selling. One surefire way to see things in a buyer’s perspective is to ask for their feedback after conducting the showing: their answers can help you unearth problems you didn’t think existed.
And speaking of buyers, they are different. There are those who may be willing to accept a lower price or closing credit for a property with this or that issue, but others may find it abhorrent from the onset and reason it’s not worth negotiating a concession or worth the hassle to fix it up themselves.
Lack of appeal
When putting up a home for sale, don’t do it if you think there could be things stopping prospective buyers from falling in love with it. Of course, not every home is a celebrity’s penthouse that everyone drools over. Buyers understand that, otherwise they wouldn’t be looking at your kind of property, would they?
Whatever you have, have it looking its best. Open those curtains and blinds when a potential buyer comes calling to let in natural light, and place lamps strategically in areas that tend to be dim. Get rid of bulky furniture that gets in the way. Make those obvious repairs that offer the most value, while avoiding the money drains if the money isn’t happy. It’s those small things that matter.
You have neglected the curb appeal
It’s not uncommon for buyers to drive up to a property whose listing they liked but drove off without even stepping in the door.
See, the interior of your home may be as charming as the inside of the French presidential palace, but if buyers aren’t willing to step inside, it’s not worth much. Get your curb appeal up to snuff with a few simple fixes: trimming the hedges, weeding and mulching the flowerbeds, repainting any flaking siding, clearing the walkways. Landscaping need not cost much – just making the outside come out as presentable and welcoming can make all the difference.
Buyers can’t picture themselves living there
The more you make it possible for buyers to visualize themselves living in your house, the more likelihood they are to make you an offer.
Go out of your way to make your home likable, and you will be rewarded for it. Clean and get rid of clutter and overly personal items like that artwork of your kids on the fridge, or those family photos on the staircase – that’s your life. And if your home doesn’t have much in it or furnishings are probably not to most buyers’ tastes, consider getting a professional to stage your rooms.
It’s about time you sold some property.