Is your house not selling? “Why won’t my house sell?” Is that your question? That’s what we’re talking about today.
Hi, I’m Charlotte Volsch, I’m an expert at helping executors, administrators and trustees with homes in probate in the Inland Empire & High Desert.
“Why won’t my house sell? Let’s talk about that. This is a top five reasons for you to consider:
#1 photos and marketing. A buyer’s first look at your house is most likely online and they’re looking at the photo supplied by your real estate agent. I can’t tell you how many photos I’ve seen sideways or really tiny or with the toilet seat or with the pets and the sellers in the photos. A poorly marketed property starts with bad photos. So, what’s important is to get professional photos once the house is properly prepared. That way you’ll get more buyers into the house to actually take a look at the interior. Now marketing, it’s really important to have your property on the market all over the Internet. That’s how a lot of buyers learn that the house is on the market, also having a well-placed sign with some sign writers giving information about the property at the property is super important to!
#2 pricing too high for the condition of the property and the location. When determining the right price for the property you should be looking at sold homes within half a mile of the subject property. You want them to be relatively the same size, and condition. The selling prices tell you what buyers are willing to pay for the location and the size and the amenities of the particular house. When looking at a house that’s move-in ready, versus a house that was built in 1964 and is pretty much a time capsule from 1964.There’s a big gap there. You have to look the photos, you have to determine really what has been done to house number one versus house number two that really needs to have a lot of updating and may have a lot of deferred maintenance.
These things affect the bottom line pricing, when pricing too high, you’ll have less buyers come through the door. When pricing too low you’ll have tons of people come through the door and possibly multiple offers, and that may give you a chance to negotiate up from there, but pricing slightly below market value, I believe, is your best option. You get people in the front door that are serious about buying the property and you get reasonable offers in a place to start negotiating.
#3 Accessibility to the house. And how does it show. Does it show well? or does it show poorly? So, the first thing is to make sure you prepare the house as well as possible within the budget and time frame allowed, I believe, in cost-effective repairs. When a property just needs some carpet maybe a little bit of paint. I don’t believe in rebuilding kitchens and bathrooms.
#4 incomplete property information, or community information. What does that mean?
One example could be, not having proper information for homes that are in homeowners associations. It’s important that there be information saying what the rules might be if they’re really specific or how much is the monthly homeowners association fees, things like that. Giving the buyers agents and their clients, your home buyer, the proper information is key to getting people more interested in the house.
And finally, #5 is having chosen to work with the wrong agent. Sometimes sellers pick an agent, because they like them, and they think they will do a great job. They don’t do the research that they should on how other people have experienced working with that agent, or whether that agent has worked within their community, how many homes has the agent helped to sell in the last year? What type of communication does the agent have? You want someone that’s going to work hard to get what you want, to find out what’s important to you, and to give it to you.
So, those are my top 5 reasons that your home may not be selling. If you have questions, please don’t hesitate to call 760-912-8905. I look forward to helping you through the process of selling your house.
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