Sometimes homes just won’t sell – but why? Here are some top reasons that could explain everything.
Pricing: The price is too high; this is by far the most common reason that a home is not selling in this market. Rarely if ever are we seeing a lack of demand – meaning sellers are enjoying multiple showings. However, if you have 30 buyers walk through your door on any given weekend and no one wants it, odds are that pricing is the culprit. Especially if you know all other factors have been addressed. When we price homes, we are very strategic in our approach because an overpriced listing can turn a home into a dud in a matter of days. I have clients who ask me what’s wrong with a house after being on the market for only 7 days. Ouch!
Not Clean: Not sure of the part of the brain that is activated when a buyer sees grime, dust bunnies, and soot, but you can expect fewer offers and not as much enthusiasm from said buyers. This also goes for clutter and lots of stuff on the floor. I always tell my sellers that buyers will forgive you in closets, basement, and garages but all living spaces (places you entertain and sleep) should be tidy and clean. To be fair, most sellers get this and I don’t have to push them too hard to do this, but I am appalled at how some agents present their properties. Clean the place well for a weekend and let ‘er rip!
Neighbors: This is really tough situation, whether disruptive or their property is a mess, the seller has little control over this unless they have a good relationship with their neighbor. This goes for loud dogs (bigger ones especially) as well. My advice is to go knock on your neighbor’s door and explain what you’re trying to accomplish and 90% are cooperative. They’ll either leave for the weekend as well, keep their dog inside a bit more than usual, or clean up their yard. (I love dogs but not everyone does and so you need to market your property to as many people as possible.)
Location: This one you can’t change nor is there much room for improvement. After all, you can’t change the schools, the topography, neighborhood, etc. I will refer to the above section on pricing and caution sellers from getting in over their heads on how much someone will pay for their house. Without the proper pricing strategy, you could not only get tagged for sitting on the market but then the location as well. Best to really pay attention to pricing strategy.
So what to do? Hire the agent that is best for the job! One with a proven track record, experience, and online testimonials. You should ask your agents for this information. Believe me, if they are experienced, they will have no trouble telling you. In fact, you might have to stop them from talking about themselves. LOL. If they fumble through it and are less confident it usually means they will be less confident while pricing, giving you frank advice and even negotiating on your behalf.