As your local real estate agent, I have seen just about everything you can imagine in the property business. I’ve built my business on strong sales and a commitment to customer service, but the industry always grapples some common challenges.
One of the most vexed issues that I’m asked to explain to a homeowner is why their property has not sold for the price they wanted, or in the time they had expected.
Here are the key reasons why properties do not sell or take longer to sell than necessary. But don’t worry – if you make me your agent, I’ll personally make sure nothing like this troubles you!
Unmotivated sellers
Properties frequently don’t sell because sellers are not motivated. They’re not prepared to invest in the sale in terms of time, effort and money to get the home ready and looking its best. Always make sure your home is well presented and looking clean and smart. Consider staging and perhaps some basic remodeling. You want people to be able to imagine living in your home and making it their own. Dirty and untidy homes are always at risk of receiving lower offers.
Sellers are clueless about their competition
Often, sellers focus on sales in their neighborhood over recent years, or they have no clue about what is happening in the market right now. But selling is all about beating the competition because buyers have the option of choosing your home, or another. You need to know what homes similar to yours are for sale at the moment and their asking prices. This will help you understand whether you need to consider some remodelling or if you’re ready to go with just a clean up.
Don’t understand the importance of marketing
You cannot sell a secret. You need to invest in marketing and be involved in the process and I love collaborating with my sellers on great marketing to present their home strongly. People who have trouble selling their homes waste weeks or months on market and do nothing about their marketing. I encourage all my clients to get involved and get serious.
Unrealistic price expectations
One of the most common reasons a home doesn’t sell is because the seller has unrealistic price expectations or believes that because they “need” to get a particular price, buyers will oblige! A property will always sell for market value which is defined by how much someone in the market is prepared to pay for it. But it should be noted, that may be a completely different thing to your personal expectations. When you consult with me as your agent at the start, your understanding of the value of your home will be realistically set and based in fact. That doesn’t mean I won’t work my hardest to get you the absolute highest price possible – but it means you’ll have a clear understanding.