You have your home listed for sale yet it sits on the market week after week, or even month after month. It has had some showings and even open houses that were well attended, but no one has made an offer.
When you are in this saturation, it is easy to get discouraged because you don”t know why the home isn”t selling. There are 10 top reasons that houses sit on the market. There is a good chance that you may have committed some of these mistakes. Once you realize which ones they are, do what you need to do to make those offers come in.
1. It”s overpriced
Your may not like to hear this, but what you think the house is worth doesn”t make it so. The market determines the price. Remember, buyers are looking at other homes in the area and will compare yours with others. If you are asking too much the offers will not come in, or if they do it will often be much lower than your home is worth. It is important to realize that your home is really only worth what someone is willing to pay for it.
2. Your timing is off
The most popular time to look for a home is in the spring, summer and early fall than in the winter. Few want to look at homes in the rain, though probably the best time to see a home when it”s fighting the elements. Unless a buyer needs to move right away, they usually put off looking for a home in the winter. Personally, I have had some of my best months in the winter but if it”s not selling, take the season in to account.
3 . Buyers can”t find it
More and more buyers are searching online, and if your home isn”t listed in all the places they”re looking, they could be passing you by. Make sure your home is listed in the local MLS (Lake County), which is picked up by major real estate sites like Homefinder, Zillow and Trulia.
4. Your photos are not attractive
When buyers find your home”s listing on the Internet, your photos could be turning them off. Buyers want to see lots of good quality photos. If you can have a video professionally made of your home, that is a big plus. Make sure that the photos tell the story of your home, highlighting the special areas that buyers may want to see. They need to be well lit and in focus to put the best face on your house.
5. It”s a fixer
Some buyers are looking to take on a project and think they can buy the home cheap, but most buyers are looking for a move-in-ready home. Often, it doesn”t take much more effort to get a home into shape that will encourage qualified offers. If you are asking the same price for your home that needs some work as one that is ready to go, you will be waiting a long time. Fix everything you can before you list so that when buyers tour your home, they can focus on the home and not how much it will cost them in repairs.
6. It”s too personalized
People like to see themselves living in the home, but too many personal items won”t allow that to happen. Pack those family photos in the hallway and clear the momentous off the mantle. Make sure there are no magnets on the refrigerator. Repaint the bright colors a neutral tone. Try to make the home a welcoming place that is not overpowering.
7. The home is too unique
Turning your garage into a rec room or converting the spare bedroom into more closet space often is a major turn off to potential buyers. If possible undo any such changes or be prepared to lower your asking price to reflect them.
8. The curb appeal is unappealing
You only have one chance to make that first impression. Once turned off by the view from the street it is difficult to get buyers to come in the front door. Neat, clean and welcoming is the order of the day.
9. You are hovering and helpful
You may want to see what is going on or be available to tell the history of the home or answer questions, but it is important to let your Realtor do his or her job. Go for a walk, or be anywhere except at the house. Not only does this put less pressure on the buyer but you will probably be able to sell it for more because often sellers give away too much.
10. You”re trying to sell it yourself
Sellers often think that they can save the commission that Realtors get, but if you try it on your own you run the risk of getting nothing when it doesn”t sell at all. If you tried to sell your home on your own perhaps it is time to call a professional. Realtors help you present and market your home to the right target audience using all the tools that are available to them. They can help you get the word out in a way that “for sale by owner” signs and local news classifieds just can”t, especially if you”re inexperienced or in a hurry. They can also help you navigate the world of negotiating and closing when an offer finally arrives.
Ray Perry is the 2013 Realtor of the Year for Lake County and works for CPS Country Air Properties. He can be reached at 277-8000.
