10 Signs a Realtor Will Have Trouble Selling Your Home
You anticipated your house to sell quickly, but you were incorrect. You’ve got a few offers and exhibiting requests. If your property has been stuck on the market for more than a month, you need to make some improvements. Property sells for the highest money in the first 30 days. Statistically, your home will sell for less with each passing day.
If your house sale has stagnated, check for one of these ten frequent barriers and make a quick fix.
It’s Overpriced
If it is not the home’s condition, it’s the pricing. Even in a seller’s market, homebuyers avoid overpricing. About 54% of brokers had seen buyers pull out of contracts owing to rising property prices by Q3 2021. When is a property too expensive? Pricing a property is tricky. Estimate buyer prices, evaluate recent sales and make dollar modifications depending on the competition.
Many real estate agents agree that 80% of selling a home is innovative pricing and 20% is marketing presentation, and they have more significant on-demand price information. Listen to people during open houses and showings for pricing input. Were they unhappy with the home’s value? Browse local listings. The problem is pricing if your property is priced higher than surrounding homes with more lavish amenities and renovations.
Resolution
Price drops are usually warranted. A price decrease may kill the value you were hoping to gain. Price cuts are expected and sometimes needed to attract customers. 22% of recent sellers closed following one price decrease, according to NAR. What should you do? Don’t be the house that dumps $1,000 a week. A price cut should do the trick. Generally, a 1% reduction in price should be sufficient if a property has had several showings but no bids. Few showings may need a 2% to 3% price cut.
You Missed the Market’s High.
Real estate isn’t as turbulent as the stock market but may alter softly. After 18 months of bidding wars and double-digit price hikes, the housing market eased in 2021. As sellers planned to cash out at the high, some purchasers fled.
Resolution
Use real-time market updates and buyer possibilities. A specialist can help sellers understand how their house compares to others and how to boost its attractiveness. Depending on the competition, a seller may opt to upgrade or lower the price. If every similar listing has a less-than-5-year-old furnace and yours is over 12, consider replacing it.
You Have a Specific Issue
Even if a showing doesn’t yield a buyer, it provides valuable intel. Input is crucial. Your agent should ask:
- What’s wrong with this house?
- What would make you purchase this house?
Multiple people giving you the same response indicates a problem.
Resolution
Once a problem is found, it may be fixed. If buyers remark your home is too gloomy, add lighting, tidy, or clean the windows. If buyers have problems imagining anything specific — where to put a TV in a living room full of windows, for example —you might adjust your staging to indicate a solution. You may also need to fix a costly aesthetic problem.
Some things are unchangeable. What if HOA dues are costly, or your street is blocked on game days? Price cures all.
Wrong Buyers
Your house needs work. The roof is ancient, the building materials may contain asbestos, and the basement has water damage you can’t remedy right now. Maybe you listed your house quickly because you needed the money or a loved one’s health changed. But things are slow.
Urgent sellers may prefer an off-market sale. Many homebuyers are picky. 80% of Americans would purchase a move-in-ready house rather than one that needs improvements, according to a 2020 Coldwell Banker poll of over 2,000 individuals. 70% of millennials and 71% of Gen Xers would trade house size for no updates.
Resolution
Sell to an investor, house-buying firm, or iBuyer. Some direct purchasers are willing to fix up the property. Cash is typically preferred. Generally, this happens:
- You describe your house.
- The buyer cites a cash price.
- You accept or reject the offer.
Instead of pricing and presenting your property, you’ll answer questions about how much work it needs and when you expect to sell. Find a company that will make a fast cash offer for the home.
Your House Is Odd
Unique properties, such as huge, pricey residences, homes in special places, or those with eccentric characteristics and flair, take longer to sell.
For example, imagine a house with two living spaces under one roof. Let’s say the mansion included two kitchens, living rooms, and bedrooms on two stories, but it wasn’t separated into flats. An agent should alter their marketing technique to sell the home and encourage purchasers to envision an Airbnb rental or a family suite.
Resolution
Be patient. You have to find the right buyer if your house is unusual. Consider why you bought the house. Other purchasers must agree. Ensure your marketing and advertising highlight the property’s unique attributes to appeal to purchasers. Finally, distribute the information. Consider Facebook groups, niche websites, mailing lists, local applications like Nextdoor, and print periodicals that target your buyers.
Your Staging Fails or Doesn’t Exist
Showings let purchasers visualize your house as theirs. That isn’t easy if they’re stumbling over toys in the dining room or overwhelmed with vacation trinkets on built-in shelves. Unstaged houses are crowded, gloomy, and undersized. Homes that have been well staged sell faster and for more money.
Resolution
Start moving. You can store family photographs and other keepsakes out of sight. You may now paint or repair floors, walls, shelves, and other places you can see. Since you’re moving out, it’s natural that you won’t solve years-old problems. Little renovations and employing a professional stager may provide significant returns. Less is more. Staging isn’t about adding potpourri and decor. Good staging minimizes distractions and highlights a home’s most remarkable characteristics through layout and design.
Bad Curb Appeal
Buyers can’t enjoy your great interior if they can’t get in or out. A neglected yard or facade deters purchasers. Paint, pressure washing, pine straw, and petunias cost hundreds. Numbers aren’t deceiving. Top real estate brokers think well-landscaped properties are worth an extra 1% to 10%. These brokers think improving curb appeal is frequently the best way to sell a house.
Resolution
Make the garden club or other sellers jealous. You may DIY or hire a professional to update your landscaping, get your grass green, grow flowers, and repair your home’s façade without much effort or price. Why not paint your door? The correct color creates an attractive entrance.
Your Listing Photographs Aren’t Professional
After staging and curb appeal, you’ll be thrilled to show off your property. If your listing photographs aren’t magazine-quality, nobody will visit. Poorly-lit, grainy iPhone photos won’t do anymore. An astonishing 89% of buyers regarded professional listing images as the most helpful internet element in their home search, according to the NAR’s 2021 Generational Report.
Resolution
Replace terrible photographs with professional ones to improve digital marketing. Discuss a video listing or 3-D walkthrough with your agent. Most agents compensate local photographers for their commission. If media isn’t supplied or you’re listing the property yourself, invest in professional photographs.
Your Listing Is Boring
Without creativity, you won’t attract consumers. Is it a 3-bedroom owner’s suite? Modern or Victorian? Where’s the zoo, park, college, and nightlife? It would help if you discussed how the location and qualities would make life great for the lucky family.
Resolution
.Describe the features of your home you enjoy, and customers will enjoy too. You are trying to sell a lifestyle, not a property. Basic MLS facts include bedrooms, baths, square footage, and parking spots. There is no need to repeat it. Start asking:
- How can we describe this house?
- Who’s buying?
- What could buyers do in this home?
Your Marketing is Subpar
You may not reach the proper buyers with print advertisements and yard signage. Being visible on social media and third-party sites is crucial. Photos, interactive maps, virtual open houses, virtual tours, and videos aid 38% of purchasers. 51% of today’s purchasers discover their homes online.
Resolution
Engage a top-notch sales agent in your region to appraise your house, discover possibilities, and advertise it. Working with a local agency may prevent almost all of these issues. Your agent should cooperate on price, staging, curb appeal, drive marketing, and assess showing comments.
It’s Not Too Late!
If your plan isn’t functioning, reset it. You can remove your house from the market, make modifications, and relist with a new agent. You may also request a fast cash offer for your home using the Houston Capital Homebuyers platform to avoid staging and showings. In addition, most people are only familiar with the conventional method of selling their property, which is to list it with a real estate agent. We give several exit possibilities to our sellers. Contact us today to find out more about getting your house sold quickly!
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
