Bryan Robertson brings us six very true reasons a home will not sell. Please read and heed to Bryan's wisdom. Leave your comments and input on Bryan's page by clicking the below link. I am disabling comments on my page. See you in the Rain!
As a homeowner, you want to sell your home quickly and for the highest possible price. I'm going to be brutually honest with you, there is a long list of things you, as the homeowner, can do to prevent your home from selling. No matter who your agent is and how much marketing they do, these things will stop buyers in their tracks. I've got a very good record of selling homes because I talk through these issues with my clients before we list. Take a look and see if any of these ring a bell. If so, call me and we'll talk about how to get past them and sell your home.
1) Your price is too high. This happens all the time. What's going through your head is "I need some room to negotiate." and so you price your home 20% over the nearest comps to give you that room. Guess what, you're losing all or nearly all your buyers. A research study done years ago showed that overpricing by 5%, you lose 50% of your buyers. Overpricing by 10% you lose nearly 95% of the possible buyers. If you're 20% overpriced, you're unlikely to even get a showing. Overprice a home and it won't sell. THE SOLUTION: Don't overprice. Set the price near the comps and you'll get buyers.
2) Dreaming of "the right buyer". This is related to the pricing discussion. Do you think pricing your home higher because "just the right buyer" will come along and overpay for it. Stop dreaming. It won't happen. It never happens. What does happen is your home won't sell as it sits on the market for months with no showings. A person who likes you home will pay what it's worth and that's determined by the comps. THE SOLUTION: Don't wait for "the perfect buyer" and price your home to sell to the broader market.
2) The home looks bad (property condition). Would you buy a home that has junk in the yard, dirty walls, or last nights dishes on the counter? No, and neither will anyone else. A home won't sell if it's a mess. Curb appeal is important but it continues inside the house. Everything has to be clean, working, and in pristine condition to appeal to as many buyers as possible. You have to "declutter" so rooms look as spacious as they can. It's annoying, but to make the best impression, your home needs to look like it's staged, even if you're living there. THE SOLUTION: Your home has to look as nice, clean, and new as it possibly can. Let my stager do their job and you won't have to stress about it at all.
3) Buyers can't get into the home. I can understand you want to keep living in your home while it's on the market. However, buyers need to be able to get in to see it. Your home won't sell if buyers can't see it. If you put restrictions such as "appointment only", "24 hours notice to show", no lockbox, and restricted showing hours, the majority of buyers won't even try to see it. If you had to jump through hoops to see a home, would you? No! Especially if there are other homes that can easily be seen. THE SOLUTION: Don't make it hard to show your home. If you have kids, dogs, in-laws, etc that make it hard to show - you need to make the effort to get them away so buyers can visit.
4) Nobody knows it's on the market. There are some sellers who insist on no street signs, no advertising, and very little marketing. They basically just want the home on the MLS and hope someone will notice. The message that sends to buyers is; "I'm not serious". It alienates serious buyers and after you've been on the market a long time, it brings out the lowball bargain hunters. It takes marketing and exposure to find buyers and hiding the home means that can't happen. THE SOLUTION: If you're serious about selling, let the agent get the word out. Marketing is a comprehensive program of advertising and networking to get buyers in to see your home.
5) You don't negotiate with buyers. Some buyers and their agents will start with a verbal offer to get things rolling. You should have an agent who is empowered to respond to that. Written offers, no matter how low, should also be considered and negotiated with. Your house won't sell if you don't get to the negotiating table. The fact that you got an offer is good because that can be passed to other agents and buyers so they know you've got interest. Ignoring offers and not talking about them will impact the impression of your home in the market. THE SOLUTION: Work with any buyer and any offer as much as is reasonable.
6) You set dfficult conditions on the sale. There are times when sellers put conditions on the sale of a property that make it very unappealing to buyers. The most common one - rent-back. Others that don't help include unusually long escrow periods and conditional sale on you finding a home. There are more but the point is that when you make it hard for a buyer to actually complete the sale, it's a turnoff that prevents offers from being made or continued. THE SOLUTION: Make sure you have a place to move to, coordinate the escrow to close when you have a place to move to, and forget a rent-back if it's at all possible.
There are many more reasons that your sale didn't go through and I'll update this area to reflect more of those as time goes on. Just remember, as a seller it's important to take the sales process seriously and don't put up barriers. If I'm passing along feedback from buyers on why they didn't make an offer or backed out of the deal, it's to help you get the home sold.
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Bryan Robertson, Broker Associate | T: 650.799.9951 | Email: bryan@serenogroup.com | Website: http://www.BryanRobertsonHomes.com |CA License: 01191946 | Sereno Group - Los Altos branch | 369 S. San Antonio Road | Los Altos, CA 94022
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