Real estate tips: 5 reasons why your home may not have sold
If you previously listed your home in a seller's market and it failed to sell, something could be wrong. Some issues you aren't able to control such as the location, size, or the age of the home. Then there are some conditions you have power over. The good news is, knowing the issue is the first step towards not repeating it. Here are a few reasons your home may not have sold:
1. Bad Photos
A buyer's first impression is no longer the curb appeal of your home (although, that is important), but the photos they see online. 90% of buyers start their search online and make a decision about whether to come see your house based on a quick skim of your listing photos. If the photos of your home are dark, have horrible angles or it looks like the person who took them didn't realize where the lens actually was, chances are a buyer isn't going to want to look any further. In the digital world we live in, professional photos of your home are a must.
2. You Have A "Passive" Realtor
If all your agent did for the process of selling your home was slap a few photos on the MLS, put out a sign and hope that the buyers come rushing in, chances are that agent doesn't really seem to care- or at least they don't act like it. You can have great photos and be priced right, but if you don't have someone on your side who is marketing your home or who truly cares, how is that agent going to attract buyers? If you ask a potential agent about what their marketing plan is for your home and they give a confused look, probably time to set up an interview with another agent.
An agent should know the market and be able to advise you on trends that will affect the sale of your home. There should always be an open line of communication between you and your agent with scheduled and frequent updates as to the progress of selling your home.
3. The Price
A good realtor will help you determine the correct price for your home based on a thorough comparative market analysis (CMA). Your agent's CMA will look at recent sales, homes that didn't sell and were pulled off the market, and current listings to guide your price decision. It's so important to price your home appropriately from the beginning. A home that is priced too high can languish on the market without any offers. Even if you lower the price later, you will have lost the momentum of the initial listing period and buyers will assume there's something wrong with the home.
Keep in mind your price should be based on the current local market conditions, not on what you need to pay off your mortgage or what your neighbor sold their place for a year ago, or your "guesstimate" of what your home is worth.
4. There's a Problem with the Title
The title is the document that shows ownership of the home. If there is a problem at all with the title of your home, buyers will probably be spooked. Some examples of title issues are:
- Conveyance without a recorded deed (can sometimes happen in transfers between family members).
- A paid-off mortgage that is still showing up as a valid lien on the house.
- A mechanic's lien that was filed for work done on the house by a subcontractor.
If you think there is any issue with your title, contact your title company to find out what you need to do to prepare for selling. Some title problems just require a little time to resolve.
5. The Home is Too Cluttered
Buyers want to visualize themselves in your home. If your home has too much furniture or too many knick-knacks or personal photos, the buyers will have trouble seeing the home as anything but yours.
Remove extra furniture and personal photos. Rent a storage unit if you have to, the dollars you spend on a storage until will come back (and then some) in the increased selling price of your home.
Want buyers to love your home as much as you do? If you have sold your home in the past to no avail and are thinking of selling again, visit our Love Your Listing page, to see how we do things a little differently.
To see all of OUR FEATURED LISTINGS, click on the link.
Sources cited: https://on.trulia.com/2g2lP1c]