In my opinion, there are 4 main reasons why a house doesn’t sell. Let me explain:
- PRICE. Let’s face it. Price covers a multitude of sins. No matter what issue you may be having, there is almost always a price point in which a home will sell. The average seller wants the highest price possible. The average buyer wants the lowest. The price point is where the buyer and seller finally agree and a contract is finalized. Melinda’s Real Estate 101: If a home isn’t selling and all other factors have been addressed; lower the price. The fact is, the number of buyers willing to pay a given price is inversely proportional to the price. Lower the price and you have more buyers available to purchase. Listen to your Realtor. Their position is almost always the same; to get you the best price and best terms in the shortest period of time.
- CONDITION. The condition of the home is typically the most important factor next to price. Unfortunately, there isn’t a uniform standard to measure a properties condition. How often do you read a agent’s ad stating that a home is gorgeous, but when you walk inside it looks like a train ran through it? Old paint, worn carpeting, massive clutter and just plain dirt are a huge issue for home sellers. If you want to get the best price, you’ll have to be the best! Sometimes, that takes time, effort and money. In the end, it can mean less time, less effort and more money in your pocket. Good condition means more than fixing and updating. It means making sure that everything is working in the manner it was intended. It means making sure that the home is presentable. It is pleasing to the eyes and the nose. Yes, I said “nose” too.
- LOCATION. I bet you thought this one would be first, huh? Well, in my opinion it’s 3rd. Agreeably, if I’m selling a mansion in Malibu with a view of the ocean my location is probably going to sell my home. However, the majority of homes in our DFW metroplex are single family residential properties in subdivisions with minimal ‘location’ issues. We may find busy streets, power lines, businesses or apartments close by that could repel some buyers. However, most of our homes don’t have huge location issues. Having a ‘great’ location is almost always relative or even subjective depending on the needs and wants of a buyer. For example: My husband hates even seeing a water tower from his house. This was a big issue to him when we were buying. Nevertheless, I have worked with clients who love seeing ‘HOME OF THE FIGHTING WARTHOGS’ out their front door. It’s all relative.
- MARKETING. Funny, when I first started in this business, marketing was the one thing that a lot of agents just refused to do. ‘Flyers? Ads in the newspaper? Open Houses??? Bah, humbug! I can just put a sign in the yard and somebody else will sell it!’ I’m afraid it was true. Today, our technology is incredible. We read our news online, we view homes by virtual tours and property information can be beamed to our cell phone by clicking on a QR code! WOW! Times have changed. Nevertheless, even as automated and syndicated as all this information is today, it’s vitally important that a home for sale be showcased with beautiful photographs, virtual tours, accessibility on the web and an aggressive agent ready, willing and able to accept all the incoming calls, texts and emails.
Of course, I wouldn’t dare make any sweeping statements like “I guarantee”…but, I practically guarantee that if you get ahold on these four (4) issues, your home WILL sell.