Don’t give up just yet—there can be many complex reasons why a home might not sell the instant it hits the market, many of which are beyond your control. However, there are also things you may not know about, things only industry professionals see for reasons a home won’t sell. Things that you, the seller could easily avoid with minimal effort and enter the market prepared.
Selling your home is overwhelming and thankfully one of those things you might do only once or twice in your life, so it’s understandable if you don’t know every nuance of how to do it right. In an effort to steer you away from these blind spots, we thought we’d sit you down for a heart-to-heart and spell out a few no-no’s to avoid before putting your house on the market.
Here are seven reasons people have difficulty selling their home
1. Pricing a home based on feelings rather than data
Oftentimes people who’ve lived in their house for a long time believe the property is worth more than what the market is dictating—and insist on listing it at above fair market value. When sellers are too emotionally attached to the home, it inhibits their ability to sell it. LISTEN TO YOUR AGENT, they’ve been trained and certified in the how to and whys for pricing a home correctly.
Pricing a home right the first time is crucial, because if it’s too high, no buyers will touch it—and the longer it sits on the market, the more it starts to look like damaged goods. So try to take emotions out of the equation and price with your head, not your heart. Allow your Realtor to research what comparable homes in your area have recently sold for, and build a pricing strategy around that.
2. Keeping all your stuff in the house, your decorations are not everyone’s prefrence
Sorry, but some of your stuff has got to go. People want to imagine what the home will look like when they move in, too many personal things from the seller. Remember, too much clutter can make a place seemed cramped. When selling a home, it’s best to keep any strong opinions or eccentricities out of the picture.
3. Not bothering to spruce up your place
Many homeowners are reluctant to spend a little bit of money to make their home look nice before it goes to market. Consider this: Certain small improvements can be inexpensive, yet can reap big returns. For example, a fresh coat of paint can boost your sale price by 15%.
Keep in mind that other small “flaws”—such as creaky floors or sticky doors—will be noticed by buyers and further drag down your sale price, sometimes you have to spend money to make money. Even basic staging, hand towels, throw blankets, duvet covers, decorative pillows can be extremely helpful and should not be cost-prohibitive for any seller
4. Using poor quality listing photos
Professional photography is something you need to use and be ready to pay for. Ideally, you or your real estate agent should bring in a photographer. Online the presence of your home has to stand out, we live in a digital world and we need to use the highest quality photos and video possible. A purchaser’s first impression of the home is gathered from their computer screen.
5. Assuming if you just list it, they will come
It takes more to sell a home than just putting up a listing and waiting for the buyers to roll in. For sellers and their agents, getting the news out—through fliers, signs, word of mouth, and online promotion—is key. Even when the market is hot, it’s very important to market the home well, homes don’t sell themselves, that takes you.
6. Being inflexible
You’ve spent the past however-many weeks cleaning, repairing, repainting, decluttering, and staging, and now you’re supposed to just clear out of your house (including pets!) with no warning when buyers come calling? Yep, pretty much. Luckily, if you do it right, offers should come in quickly.
Serious buyers are scouring the internet, waiting for promising new listings to pop up. You get only one chance to be that fresh, new listing. Just like it’s important to get the pricing right the first time, you want to let excited buyers see your home right away. You never get another chance at those first few weeks, so it really it is critical to open your home whenever necessary to ensure the right people see it at the right time.
7. Rejecting lower that desired offers
But often, buyers don’t mean to insult you with a lower offer, they love your home and are trying to do what is best for them as you are focusing on what is best for you. So tempting as it may be, don’t shut them down hard.
“A buyer may come in with a low price, but it’s best not to write them off completely,” says de Jong. “If the offer is rejected in a rude way, those buyers may feel like they do not want to work with the sellers at all.”
Many times a successful negotiation begins with a lower offer, perhaps from a buyer who doesn’t really have a good handle on the market. Other times, what you thought was a low offer might just be a more realistic view of what your home is really worth at the moment.
Until you’re sitting at the closing table, keep your options open. Deals fall through, buyers walk away, financing gets mucked up at the last minute. Stay open, positive and flexible. Your house will sell!!! Keep the faith and trust your guide, your Realtor!
