People tend to come to me after they’ve hired another real estate agent to list their home, but the listing expired because the home sat on the market for too long. In this case, I’ll take a look at the listing, and can usually spot the reason why the home sat in 60 seconds flat.
Today, I’m going to tell you the top 5 reasons why a home will sit on the market and how to fix it, so it doesn’t happen to you. Don't use the trial and error model or learning to sell your home. Follow the following insights and you'll save time and money!
#1 Bad Photos
When you start interviewing agents to list your home, one of the most important questions you can ask them is: Who is your photographer? If the agent can’t give you an answer - Or worse, tells you that they DIY all of their own photos - Run! Apps like Zillow, Redfin, and Trulia, potential homebuyers have been trained to swipe left. When they see a home with bad photos, they won’t even bother coming to look at it in person.
They’ll just keep scrolling. Instead, make sure that your real estate agent hires a seasoned, professional, real estate photographer that knows exactly how to capture the best features of your home. This is the first step to driving tons of traffic to your home.
#2 Bad Decor
Unless they’re an interior designer with a trained eye, it’s really difficult for the average buyer to see past your decor. Even if you’ve chosen your pieces carefully and paid a premium price, it may not suit the buyer’s taste or needs.
The problem arises because, in order for a buyer to want your home, they have to be able to see themselves living in it first. But this is nearly impossible when they can’t get past a chair, rug, or tile selection that you’ve chosen that doesn’t match their style. Sure, everyone knows that a rug can be replaced, but if the rug is so offensive that the buyer can’t get past it, it’s likely that they won’t be able to see themselves moving in either.
Eliminate this entire scenario by removing all unnecessary clutter, updating your furniture pieces, and using a neutral color palette that will appeal to the masses. If you don’t know how to do any of this, your Realtor® should be able to put you in contact with an amazing home stager.
#3 Bad Pricing
This is probably the most common culprit. The market determines the price of the home, not the seller, not the appraiser, not the Realtor. This means that a home is only worth what a buyer is willing to pay.
You may think that your home is worth [X] because you improved it, made memories in it, and took such good care of it. But none of that matters to a prospective buyer. They will be looking at the home objectively. And if they can’t justify your price, they’ll move on.
For all of my clients, I have a very candid conversation so they understand how to price their home so it doesn’t sit on the market unnecessarily. Your agent should have done the same.
#4 Bad Vibes
Sometimes, there are things you can’t even see that are holding back your home sale. It could be a funky pet smell, a dark and drab interior, an unusually hot or cold temperature, or even a weird creepy sound that spooks the buyer out.
Your agent should be collecting feedback from all of the agents and buyers who have toured your home. This feedback is essential to spotting trends and eradicating issues that are holding back the sale. More importantly, however, they should have the insights and experience to help you be fully prepared and have your home showings at it's best BEFORE they ever go to market.
#5 Bad Communication
Sometimes, the home is perfect, but it’s a lack of communication that actually hinders the sale. It always baffles me when I encounter listing agents who don’t return calls or allow showings. Your agent should be available via text during normal working hours. If you can’t even get a hold of your agent, neither will a prospective buyer.
You also have to be flexible. I understand the inconvenience of keeping the home clean to show at a moment’s notice, but if you want to get the home sold, everyone needs to be flexible. In sum, the key to selling a home fast is making a great first impression, and this is where a skillful agent can really help you.
Before listing a property, we always make recommendations for our sellers, so we can sell the home for the most money, and in the shortest amount of time.