Statistics from NAR, graphic from Keeping Current Matters
It is a new year with new homes coming on the market daily. While the actual amount of homes sold is a touch down, the average prices are coming up and so is the amount of inventory to choose from. So why is your home still sitting on the market?
If you have a Realtor that is utilizing all of the tools in their marketing toolbox, it could be possible that it is you. Are you guilty of any of these 5 cardinal sins of selling your home?
This is the MOST common reason homes sit on the market. Many home owners, even some listed with agents, feel that they must stay on the high end of their price strategy because buyers will come in with a lower offer no matter what. The truth is while buyers are always looking for a good deal, a home is worth what a buyer is willing to pay. If you have had 10 showings and no offer, or no showings in more than 2 weeks, you are probably overpriced.
Family photos and knick knack collections are what makes a house feel homey. However, if your house is filled with personal touches, buyers find it very hard to imagine themselves buying your home. This also includes your favorite leather Lay-Z Boy recliner and your bright yellow bathroom. Neutralize it all. It may not feel like home to you after you stage it, but that is the point, it won’t be your house much longer.
3. Unfinished Projects
We all have those projects around the house that we get sidetracked from…a new faceplate here, a burnt out light bulb there, a light fixture still in the box in the garage. When your house is on the market is not the time to procrastinate. Even something as simple as a door that sticks or burnt out lights will make buyers think, “what else is wrong” and they will start looking for things with a fine tooth comb. I just showed a home last week with a beautifully done kitchen, but because what we thought was a light switch was reversed with the garbage disposal, the buyers started looking at grout lines to determine if it was done by a professional. Never mind the fact that the brand new stainless steel appliances were staying.
Selling a home is emotional. Whether you have lived there for years or just really love the property, if you have it on the market, there has to be a reason. Remember that reason throughout this process. When your agent asks you to do something to benefit your sale, try to understand why they are asking. If you receive an offer that is less than ideal, counter offer. They call it negotiation for a reason. But being inflexible is a quick way to make buyers walk right out the door.
92% of home buyers begin their search online. If your home has been on the market for a while, it may be time to refresh the pictures. I always have to smack my forehead when a house for sale in September has pictures with snow on the ground. Keep things fresh! If the price is the same and the pictures are the same and we didn’t show your house the first time, we sure won’t 3 months later.
If you are needing a real estate reboot, now is the time to do it! It’s a new year, look back as to why you wanted to sell in the first place, be inspired by what is to come once you do sell.
Happy Home Selling!
To see houses for sale in my neck of the woods visit http://www.saravanallen.kwrealty.com or call me at 913-558-2053 for a Custom Market Analysis or Buyers Consultation.