You may have been on the market trying to sell your home but your home did not sell. Here are 7 reasons why your home didn’t sell and what to do about it.
Reason # 1: Buyers Are Turned Off By Your Home:
If your home is dirty, messy, cluttered, overcrowded, dark inside, smelly or it needs a lot of work, your home is shouting to every buyer, Run for your life!! A buyer does not want to buy a home that needs a lot of work when they step inside. Only if your home is priced below the current market price, and it is labeled as a “fixer” will buyers be interested in buying your home. They are only motivated to do a lot of work on your home if they can get a screaming deal on the price!!
Imagine you won a Dream Homes Magazine Photo Shoot!!
What would you do with your home if you knew a premier Dream Home Magazine was coming to photograph your home next week?
You would pack up all of your unnecessary belongings, and store all furniture that makes your home look crowded, out-of-date and small. You would leave a lot of empty space in each room for buyers to imagine their own decorations on your walls and their own furniture in empty spaces. You are packing to move anyway, just get the work done now so you attract buyers to your home.
Reason # 2: Your home needs a lot of work done to it:
Buyers are turned off by the amount of work a home will need before they move in. If your home needs paint, flooring and updated appliances, buyers get turned off by the amount of work they know they are going to have to put in, in order to call it theirs.
If a similar home down the street sparkles with upgraded flooring, neutral paint and newer appliances, buyers will want that home more than yours. Buyers want to buy a home that is close to or ready to move into now, without a lot of work, and then later they can add their own touches.
Although you may say, “I can’t afford to renovate or repair,” think again, even doing the smaller tasks, like painting the kitchen cabinets, replacing the window coverings in the kitchen, updating faucets, adding a rug and changing out the wall plates will put your home on a buyer’s Wish-list versus a home that isn’t updated. Now, change the counter tops, remove the cabinet over head and make a kitchen bar with seating for two. Affordable and minor changes in your home will inspire a buyer to see how a room can look with an updated look and they suddenly believe that they can do the rest of the change themselves. Change out the overhead light and you have a whole new look on a reduced budget, and you now have interested buyers who may say, “I can live with that kitchen until I can add a new stove or floor.”
Buyers may be interested in seeing your home but for some reason it is too difficult to preview. Agents may read in the confidential remarks section the directions for showing your home and it is too much work to do it. Then agents then tell the buyers, “Your home is not available.”
If you do not have a lockbox on the property, you are requiring someone to be home to show it; that reduces viewings. If you have tenants in the home and they are not cooperative by making time to show it, you just reduced the number of buyers viewing your home.
If you have pets and someone needs to secure them before you can allow buyers to come, you reduced viewings.
If you have limited times that agents can show the home, you just reduced viewings.
Do whatever you can to make your home easy to see and easy to make an offer on. You may not have control over some of the most difficult circumstances, such as the sale of a home due to a divorce or because of the death of a loved one. But you can agree to install a lockbox so agents can bring buyers to see your home without someone being home.
Ask your agent to hold open houses more often and for longer periods of time, so more people can see your home. You can establish a routine for seniors and children when you take them out of the home for a period of time, so your home is free to bring in buyers.
You can leave the home when buyer’s come to see it. Being present is usually a deterrent because buyers want to spend time imagining their stuff in each room, and they cannot do that if you are hovering in the home. Talk to your agent about creative strategies to show your home more often so you can attract more interested buyers.
#4 Your listing is not attractive to buyers:
About 85-90 percent of buyers start their home search online. You must compete online with every other home on the market in your neighborhood and in your price range in order to be considered serious about selling your home. Your home has to look beautiful to the buyer. It has to sparkle in their imagination. It needs to be neat, clean, uncluttered and professionally photographed for buyers to take you seriously. If your agent takes pictures of your home with a smartphone to save money, you may have an agent who isn’t so smart.
Your agent can offer to pay for photographs or you can pay for them, either way, a poor presentation of your home means less buyers will be interested in seeing your home. There are many ways you can spruce up you home to make it attractive to buyers. Many of these ideas are low cost and can be done my you or a family member. You can go to YouTube and in the search window type in Dr Deena Realtor to watch videos to help you make more money when selling your home and get more buyers flocking to your home to write an offer. Here are a few examples of videos you can to start with:
Tips to Make Smaller Rooms Larger When You Sell Your Home in San Diego
6 Tips to Sell Your San Diego Home for More Money
Put More Profit In Your Pocket With Mirrors When You Sell Your Home
Turn Your San Diego Condo Balcony Into Paradise
Upgrade your San Diego Bathroom on a Shoestring Budget
Reason # 5: Your agent may be the problem:
There are many real estate agents who are happy to sell your home but they really don’t know what they are doing?
Have they outlined all of the home preparation tasks that will raise your home’s value? Have they outlined their online marketing plan? Have they referred you to people who will repair, replace or renovate items that buyers will balk at?
Do they communicate with you honestly about how to increase your profit and what you need to do to attract more buyers?
Did they agree to a lower commission? Then they won’t be able to negotiate with strength of character, when you need them to.
Are they able to predict problems and resolve them without drama and high emotion?
Real Estate is a stressful experience. Most agents are not aware of how exhausted, confused or overwhelmed you and your family can get when you are in the process of preparing the home, waiting for buyers to close escrow and searching for a new home to buy. You want an agent who is skillful in all of these areas. Does your agent stay up to date on the current real estate laws to guide you and protect you? No one wants to go through litigation and your agent is your first line of protection or they may be the reason you become liable. How hard is your agent going to work to sell your home? Today, with over 85 percent of buyers starting their search online, you want an agent who is very savvy on marketing your home on Facebook, YouTube, Google Plus, and on the thousands of real estate websites?
Reason # 6: Your home is overpriced!
I left discussing the pricing of your home for last, because pricing your home requires that you are emotionally detached from the home and ready to sell it for what the market will bear. It is usually hard to accept that your home may be overpriced for one reason or another and agents often have difficulty guiding you to the right price for fear you will use someone else. They believe if you price it high, because you want to get the most money, they can keep pummeling you into reducing your price. There are a few problems with this however; buyers begin to wonder if your home has been on the market for so long, if you are hiding major problems from them and then they are afraid to get serious about it.
Agents need to have an honest conversation with you about the price up front, and then put measures in place to monitor and adjust the price weekly so you are not chasing the market down and missing the window of opportunity to get the best price. And buyers who can qualify to buy your home may not see your home online because the home at the higher price will not pop into their search. Only after you have dropped the price will they see it. And it may take you and your agent months to get it to the right price. Now, the home looks stale in the eyes of the buyer.
Additionally, pricing a home right from the very beginning means you are emotionally ready to sell your home and part with it. Watch the YouTube series: The 4 Stressful Phases of Selling a Home to learn the different emotional stages in each phase and how you can get your family through these stages with the least amount of drama and trauma.
Once you are ready to sell, however, you will want to monitor daily and weekly activity on your home. If you are getting no showings of your home, then you are probably overpriced. If you are getting buyers looking but no offers, then you are probably overpriced.
In San Diego, we currently have very little inventory available for sale, so a home that is priced right or underpriced will receive offers on it rather quickly. If you have cleaned, perfumed, organized, packed up and neutralized the color of the walls, and you are emotionally detached from your home, and you are still not getting offers, then you must consider reducing the price.
The economy or the market (as we call it), may be changing from a seller’s market to a buyer’s market. There is either more inventory for a buyer to choose from or the economic conditions have taken a nose dive and real estate sales are down. Your home is priced equal to other homes in your neighborhood, but your home may not be equal in terms of updates. Less buyers means more homes stay on the market longer, and to get it sold you must reduce the price. The interest rates are higher and buyers cannot afford as much as they could buy in previous times, so you must reduce the price. Your agent may be driving buyers away with crazy or erratic behavior or what they put in the listing. Or there is something wrong with your neighborhood that is deterring buyers from your neighborhood. The terms to sell your home may be too restrictive, i.e.…your condo can’t go FHA and you can only sell it for cash; eliminating buyers. And finally, you may be a difficult seller, refusing to accept offers for one reason or another…
If you are ready to sell your home now:
1. Make the changes to the home that need to be made. Clean it up, declutter it, perfume it, lighten it up, and brighten it up and fix it; if these are the reasons your home hasn’t sold. Get opinions from family, friends and real estate agents to determine the issues.
2. Work on emotionally detaching from your home. Celebrate the memories you have made in your home. Help your family work through any emotions that have kept the home from being properly priced or being repaired. And stop being difficult if you are the problem.
3. Find a real estate agent you trust. Select one who will be honest with you about pricing and what needs to happen to get your home sold quickly this time.
4. Eliminate any other problems that you know are causing delays… and then get ready, get set and get packing!
Find Out the Market Value of Your Home:
If you would like to know the value of your home, you can get it one of two ways: Go to ValueMyHomeNow.com and fill out the form. I will get an email from you and I will call you or email you to get basic information about your home so I can prepare a FREE Home Value Report and then I will email it to you. It includes homes on the market now, homes in escrow and homes recently sold.
The first method is not as accurate as the second method. In this one, you invite me to come to your home so I can see your neighborhood, your home’s amenities and upgrades. I will determine your value more accurately, and then I can send you your FREE Home Value Report.
I will not pressure you to sell your home. If you are not ready to sell, we will discuss a plan of action when you are ready. I will be happy to keep you updated on your home value while you are getting ready to sell. Let me answer your questions about selling your home:
Real estate is often complicated and stressful. I will be happy to answer all of your questions about paperwork, about my duties as an agent, how I negotiate, and many tips to reduce any fear, frustration and anxiety about selling your home.
I apply my knowledge about psychology to educate you about the psychological real estate strategies to attract qualified buyers and help you net more money when you sell your home. I have created numerous articles, handouts, e-books and YouTube videos designed to educate you so your life as a seller is less exhausting and frightening, and I have designed them to help you make your home sale go smoother and be less stressful for everyone in your life.
If you have found this information helpful, be sure to check out valuable videos on my YouTube channel by typing in the magnifying glass: Dr Deena Realtor. Here are a few videos you can want to watch to help educate you about ways to sell your home:
Let Me Help You Sell Your Home
I have successfully worked with families from all walks of life who hired me to sell their home. I have worked with families going through lifestyle transitions such as a divorce, the death of a loved one, families relocating, and couples downsizing or experiencing the loss of income, all of them needed my help to sell their home. I also have helped families to sell their homes when it didn’t sell the first time.
I offer you my compassion, my expertise, and valuable strategies to help you make the most money, with the least amount of hassle when you sell your home, and help you reduce your stress, while guiding you every step of the sale. If you or a family member need assistance selling a home in San Diego, feel free to contact me to answer all of your questions. My email is [email protected] My phone/text is 858-229-8072.
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