Home Sellers: Is Your Listing Stale?

Home Sellers: Is Your Listing Stale?

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Home SellersIn most areas, it seems like houses are flying off the market as soon as they go on. In some cases, home sellers are even settling on a sale price that is higher than their asking price.  

This means that if you are thinking about becoming home sellers it means that as soon as you list yours it will sell, right?  Maybe not.  

Even in seller’s markets there are some houses that are just sitting and going stale.  If you haven’t gotten a contract after 5 or more showings, it’s time to go back and see where the problem is.  

Typically, the answer as to why a home isn’t selling is usually one of two things: the condition of the home or the price.  If a house is priced correctly, no matter its condition, it will sell.  This means that when a property is sitting in a hot market, it’s usually overpriced or is being marketed wrong.

Bad Photos

Photos are most people’s first impression of the home.  Home sellers want to make sure your photos are attractive. This means taking the time to get rid of the clutter and having a pro come in to take photos.  

Clean off the kitchen counters, have every room simply staged,

Remember: photos are the key for influencing potential buyers’ decisions. You want yours to stand out in a good way.

Pricing Strategy

Price is of course an important part of the selling process.  Many times home sellers price their house at a level that allows them to walk away with the money needed to buy their next house or to have enough for a large purchase. This means they are not basing a price based on what comparable homes are selling for.  In situations like this, home sellers also tend to place too much value on certain upgrades while ignoring others. For example, a dated kitchen but a new furnace are both important in selling a house. But if you want to consider your home update, you need to look at the big picture.

To avoid a listing growing stale, home sellers will want to base their listing price on sold houses, not solely on active listings. You can ask anything for your house but the only number that matters is the price that is sold at.  

Keep in mind that online home valuation tools can inflate numbers and don’t always portray a realistic picture of a home’s value.  Homes that aren’t updated will sell, but they are going to sell at a lower price.  

To sell a home fast, home sellers need to be realistic and take the emotions out of the equation when selecting your asking price.

Showing Strategy

A home sellers’ marketing strategy can include current and old school tactics.  But professional photos should always be used and are common in today’s market.  

One problem for sale house face that a number of them are on lockboxes. In most cases, the listing agent doesn’t come through first to open curtains, turn on lights and make the place shine.  

A dark, closed up house can leave a bad impression with potential buyers.  You only have one chance to make a first impression and you want it to be a great one.

House is Unavailable

No matter how great your listing looks online, if you aren’t giving buyers access to see your house in person, it’s not going to sell. We get it: selling your home can be really inconvenient.  Buyers want to see it after work at night or during the weekend.  

For this reason, sellers want to try to be as flexible as possible and respond to requests right away. If buyers can’t get in to see your house they will move on to the next house.  

Uninsurable or Un-lendable

This isn’t always an issue but in some areas, there are very strict inspection requirements when it comes to getting insurance.  In most cases, homes have to meet a basic set of standards.  If they don’t, you won’t be able to acquire the proper insurance required to purchase the house.

In other instances a home might not appeal to lenders. This means that buyers won’t be able to obtain a mortgage on the property. The Federal Housing Agency can be exacting about what standards a home has to meet before it will issue a mortgage.

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