Why Does My Home Not Sell?
By: Diane Tuman, Content Manager | September 5, 2007
(Photo courtesy Desert Home Stagers)
Today’s Wiki Wednesday Feature: Why Does My Home NOT Sell?
Thanks to the sub-prime mortgage mess, it’s a question many sellers are asking these days — Why Does My Home NOT Sell? Daniel Herron of Coldwell Banker in Lakewood, Colorado, is the creator of today’s Wiki Wednesday feature article that helps dissect reasons why homes might be sitting and these reasons have nothing to do with a scared buying public.
His data is mainly from Denver, but the stats can reflect Anywhere, USA. For example:
- De-clutter your home: Homes in Denver that are clean and decluttered will sell an average of 30% faster. (Yup, that makes total sense. Who wants to see photos of you at the beerfest where you made a total *ss of yourself?)
- Is it in move-in shape? 90% of buyers want to buy a house that they can move into without having to do a thing. (For example, if you have a bathroom with pink tile and a blue tub, it’s probably time to ”make it right.”)
- Market your home online: Statistics in Denver show the 82% of buyers are looking on the Internet before they talk to a Realtor, mortgage broker, or anyone else about buying a home. (What? A newspaper doesn’t offer free, multiple, color photos of a home for sale? The Internet is the place to be, baby!)
- Add photos, silly! Homes with 6 or more photos online will be viewed 20 times more than those with less than 6. (People love to look. And if they can’t see anything, they won’t look.)
Each of these suggestions is a no-brainer, right? Well, you can’t believe the silly things sellers hold on to. When I was selling my Baltimore home, my Realtor said, “Get rid of this, that and that. Take ALL of the photos down and when you’ve stripped the room of what you think should be stripped, do it again.” Of course, I was mortified. What? No one wants to see the clay bust I made in high school of Albert Schweitzer? Into the garage went Albert, a love-seat, a side table, chairs, photos, and stuff. It was amazing how large the house had suddenly become. Even I wanted to live there again.
Do yourself a favor and listen to your Realtor, if you have one. They’ve done this for awhile, you know? And, if you’re not using one, ask your neighbor to come over and give you a tough assessment of what’s wrong. Don’t hate them for it. They’re doing you a favor. Trust me on this.
Ed: Wiki Wednesdays is a weekly feature that highlights helpful or interesting articles from the Real Estate Guide.
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Comments
7 Comments so far
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Chris Dowell on September 5, 2007 6:37 pm
All of the marketing in the world will never sell an overpriced cluttered home. Price the home like you want to sell.
Dale Chumbley on September 5, 2007 6:38 pm
Great post with such true information. Speaking as a NW realtor, we experience the same thing here. I would add another item to the list.
Listen to your realtor about your price!
Just because the seller thinks that it should be worth more, doesn’t make it so. We need to get back to pricing based upon what things are selling for, not what everyone else has theirs “listed” for.
Thank you for continuing to help educate in a positive way.
Sherron on September 6, 2007 7:50 pm
I agree 110% with your suggestions, I have been having a difficult time with sellers that don’t want to listen to the advice such as yours. In this market I won’t take the listing. Great points!!!
Michael on September 9, 2007 2:49 pm
Another thing to always consider and remember as its a Buyer’s Market, buyer’s can be more “selective” at what properties they want to put an offer for.
I have clients that aren’t considering a few properties now because they are in a much better position compared if the market went back to a Seller’s side.
jim redmond on September 14, 2007 6:55 pm
The number one reason is price. One of the frist things you can do is go on zillow and get prices for for homes in your ares that have recently been sold. They are also called comps. That way you will know how much homes are going for and not what they are listed at or what a realtor might tell you in order to get the listing. The second thing is to make sure your house is ready to sell. Clean windows , carpets cleaned, clean the closets, try to get rid of the clutter. Have a garage sell for the unwanted items. Last but not least go to the public library and pick up a good book on selling your house fast.
Kansas City on December 23, 2007 5:10 pm
There is little point in taking an overpriced listing. You may get some buyers off it, but the downside far outweighs the benefits in the long run.
Gayla on December 30, 2007 4:45 pm
As a buyer, and recent seller, it’s the price. All price. For the right price, I’d buy a house yesterday. We offered 165K here in Kansas City for an REO that was built in the 40’s, on a busy street, the basement was caving in, it had been in a fire, a block from the interstate… cause that is our price! Needless to say it’s not sold yet. And it’s so frustrating, to be told “I’ll let it go back before I will take less.” Keep it before you take less, burn it down before you take less, whatever… but foreclose before you take less? Ridiculous. I’d much rather have an older house but my only option is go with the builders or wait, and can’t stall my husband much longer…