Selling your home can be a difficult process. Even after renovations and remodels, some houses remain on the market longer than desired. After many months of trying to sell your home and failing to see it make more than minimal progress, it may be time to step back and assess why your home isn’t selling.
- Price: Price is one of the most common reasons properties fail to sell. Some owners list their houses higher when the market is hot, believing buyers will pay any price. However, the lender as well as the buyer must approve this price. Most lending agencies conduct appraisals on listed properties before giving prospective buyers a mortgage loan. The amount offered in the loan will only reflect the amount that the lender deems the home is worth, leaving some buyers short of the listing price. Many agents will tell you they can get the price you want for your home. Always ask to see data and information that justifies their claims. Additionally, most buyers research your home and surrounding homes in the area to compare listing prices. If your home is listed way above others, buyers will know and your house may continue to remain on the market.
- Lack of curb appeal: When searching for a home many prospective buyers drive by your home to survey the property and surrounding neighborhood. If your home is cluttered or unkempt, it will detour buyers away from viewing your property. After listing your home on the market, step back and view it from the viewpoint of a prospective buyer. Move all toys, rusty or old outdoor furniture and playground equipment out of sight. This will make your home seem more appealing, and make buyers more likely to schedule a showing.
- Bad photos: In addition to cleaning the outside of your home, the inside of your home should be neat, tidy and as empty as possible. This allows buyers to imagine themselves in your home, without distractions. Most home searches begin online and messy or unappealing homes often get overlooked. Having an experienced real estate agent plan and organize well-shot photos of your home can help increase its “wow factor.” Not all relators have the same experience when it comes to taking photos; if you are not satisfied with the way yours look, don’t accept them.
- Bad marketing: A good marketing plan is key to selling your home. Listing your property in newspapers or yard signs are marketing methods of the past. The best way to ensure your home sells is to seek out a real estate agent who is familiar with the marketing trends in your market
Houses sell everyday because they are staged to sell, marketed correctly and listed at the right price. For help deciding what steps need to be made to get your home of the market, give Rent It Network a call.