Maria DiCarlo's Blog
If you’re selling your home it can be frustrating when you aren’t receiving any offers. Perhaps you’ve heard that it’s a seller’s market and that the offers on your house would be flying in. However, it’s more complicated than that.
Whether or not your house receives offers is determined by a number of reasons--some that in your control, others that aren’t. But, that doesn’t mean you have to give up and sell your house at a low price.
In this article, we’ll discuss what to do if your house just isn’t selling. We’ll talk about some reasons why people may be hesitant to bid, to inquire about a showing, and to seal the deal and purchase your home.
Revisit the comparable properties
If your home has been on the market for a while, it’s a good idea to check out the other recent homes in your neighborhood to see how their prices compare to the listing price of your home. Since the market fluctuates, other sellers could be adjusting the cost to reflect the current rates, leaving yours higher than it should be.
When pricing your home, make sure you are comparing your house to those that have actually sold. Using houses that have been on the market for a while as a baseline might mean you’ve priced your home too high to sell just like theirs.
Also, make sure you are using houses that share many of the common features that yours does. This can include:
The year the house was built
Number of bedrooms and baths
The lot size
The condition of the home
Remember, it isn’t all just about location.
Getting more leads
If people aren’t making inquiries about your home, there are a few things you should check up on. First, make sure your listings are updated and accurate. The contact info should be easy to find, and you or your real estate agent should provide multiple means of contact (email, cell phone, text, etc.).
Next, ensure that you’ve given enough details about the house. If people are searching for a specific number of rooms but your listing doesn’t mention the number of rooms you have, you might be missing out on several inquiries.
Finally, make sure your photos are high resolution and well-lit. You want to make sure visitors to your listing can get a clear idea of what your home looks like. If your photos are small, dark, blurry, or if they make the house look cramped and cluttered, you should retake your photos or consider hiring a photographer.
Getting more offers
If you’ve had plenty of inquiries and showings but you aren’t getting any offers there may be a deeper, underlying issue that needs to be addressed. Usually, this means your home needs important repairs and upgrades that buyers simply don’t want to make.
If your house is priced to be move-in ready but it’s not, you’ll have to make some upgrades or lower the price.
Not working with an agent
Sellers can also have a difficult time getting offers if they attempt to sell the home themselves without using a real estate agent. If your home is FSBO (For Sale by Owner), you’re missing out on a number of listing services and connections that an agent can provide.
Often in real estate, the saying goes that “a picture is worth a thousand words.” While pictures can help buyers to get more interested in a property, going a bit further in the listing description can help to get the property even more in-person views. If you work diligently with your real estate agent to create a great description of your home for sale. There’s a few simple tips to make sure that the listing description of your home will bring buyers knocking.
Think Of Your Audience
Remember that one of the most important things in writing anything is to write it for the audience that you’re trying to reach. Who will actually be reading your home’s listing? Besides potential buyers, other realtors and home search engines will be glancing at your listing. This means that you have to meet a few different purposes with one description. Your description should include:
- A clear, concise description of the home and its contents
- Important information surrounding the sale of the home including if it’s a short sale, foreclosure, etc.
The Limitations Of The MLS
The MLS is where homes are listed most often. It does not give a lot of room for creativity in listing descriptions. Keep in mind that you don’t want to repeat a lot of the same information throughout the description. For example, there’s no need to repeat that the home has 3 bedrooms and one bathroom multiple times. There is a property details section that lists all of these major factors about the property. It’s definitely to your benefit to include alluring features of the property that you think are unique and possibly hard to find. Describe something that you know other people will want to see.
Improved Homes Are Attractive Homes
If you have made upgrades to a home such as new appliances, new kitchen countertops, or a new roof, make sure that you include that in the listing description. Buyers love homeowners who have taken good care of their homes. People are much more likely to buy a home that they believe is move-in ready. It’s much more comforting to buyers.
It’s What You Say And How You Say It
There’s a lot more clout behind certain words than others when it comes to real estate. These words make buyers more likely to act and go see a listing in person. The words you use can vary including those that describe:
- The type of countertop
- The landscape of the home
- The condition of the home
- The materials used within the home
Certain marketing buzzwords don’t work when it comes to selling a home. These include anything that sounds too good to be true like a “quiet” neighborhood, or stating that the home is ready to move into. While these things can be true, it’s often best to let the listing description lead buyers to see the home, and discover these bonus points for themselves.
Home sellers rejoice! The housing market moves rapidly, which means home sellers who allocate the necessary time and resources to enhance their residences should have no trouble stirring up plenty of interest in their properties as soon as they become available.
Ultimately, navigating the fast-paced housing market can be simple for home sellers – here are three tips to ensure that you can do just that.
1. Focus on Your House's Curb Appeal
For home sellers, it is paramount for your house to make a positive first impression. Otherwise, homebuyers may shy away from your residence if it fails to garner their attention.
Fortunately, it can be quick and easy to revamp your home's exterior and boost your property's curb appeal.
A home seller who mows the front lawn and cleans his or her home's siding can bolster the property's curb appeal instantly. Also, don't forget to clear off walkways and remove leaves and weeds from your lawn to further enhance your home's curb appeal.
2. Price Your Home Competitively
A homebuyer may not even have to set up a home showing to be turned off by your property. In fact, a home seller who sets a high asking price for his or her residence risks alienating potential homebuyers immediately. Conversely, if you set the right asking price from the get-go, you may receive many great offers on your residence when it hits the housing market.
Assess the prices of comparable houses in your area to determine a "competitive" asking price for your residence. By doing so, you'll be able to establish fair market value for your house and improve your chances of a quick home sale.
Don't forget to be flexible with your asking price as well. And don't forget, if a homebuyer submits an offer that falls below your initial expectations, you can always counter this proposal.
3. Work with a Fast-Paced Real Estate Agent
To succeed in today's fast-paced housing market, you need a real estate agent who understands what it takes to list a property and maximize its value at any time. Thus, hiring an experienced real estate agent ensures that you can generate significant interest in a fast-paced housing market.
An experienced real estate agent will be able to promote your residence to the right homebuyers consistently. This real estate professional will go the extra mile to ensure that you can add your property to the housing market and get the best results possible. Furthermore, your real estate agent will address any of your concerns and questions and ensure that you receive the support you deserve throughout the home selling process.
Listing a home in a fast-paced real estate market may seem difficult, particularly for first-time home sellers. But with an experience real estate agent at your disposal, you can overcome any housing market hurdles. This real estate professional will simplify the process of listing your residence, and ultimately, help you optimize your home's value.
Take advantage of the aforementioned home selling tips, and you can minimize the guesswork associated with selling your home in a fast-paced real estate market.