"Why didn't my home sell?!!" Suggested Reading
"Why didn't my home sell?!!"
5 Resons why A Home Doesn't Sell
There are
ONLY 5 Reasons why any property does NOT sell,
and the SELLER happens to controls 4 of them:
1.
LOCATION - The property may be located near a busy road; lack of privacy - the property may be too close to other homes or lack a nice yard; the property may be located on low terrain or lack of proper drainage; over-improved - the property may be located in an area where the average home price is much lower.
2.
CONDITION - Carpeting, wallpaper, kitchen, baths, etc. may be "too dated" or "too busy" and need replacement or "neutralizing". The property may be too cluttered with furniture and other items which do not present the property in its most attractive condition. The property may be very "untidy" and needs a good cleaning. The property may lack "curb appeal" with lack of landscaping . . . or, the property may look like a "jungle" and with overgrown landscaping, and need pruning, trimming, etc.
3.
PRICE - The property may be priced too high for the neighborhood, OR too high for current market conditions.
4.
TERMS - The Seller will not move or allow occupancy for 6 months or longer, limiting prospective buyers who may need to purchase in 30 or 45 days. The Seller may have unreasonable showing demands, i.e. 1) listing agent must be present at all showings, or 2) Seller will not allow a lockbox for easy access by Realtors. If the current market interest rates are at a high level which makes it difficult for a Buyer to qualify for a loan, the Seller may need to assist with Buyer closing costs, points, or worst case, hold Seller financing.
5.
Which one does the SELLER NOT Control?
(Answer: Location)
What can the SELLER DO to compensate for Location:
(Answer: Make "adjustments or changes" to any one of the other 4 reasons.
AGENT - Seller needs the best full-time professional real estate agent, who understands how to "effectively market" the Sellers property to a Sale and Closing.