Everyone is quite aware that the current real estate market is hot! With this said, it is not uncommon for a property to be listed only to have multiple offers within a few days. Of course, this does not necessarily mean that every property listed will have such fortunes. In this article, we will discuss the most common reasons why your home may not be selling.
- Overpricing your home: By far, the most common reason for a property not selling is because it is overpriced. Given the current tight inventory of homes for sale, many sellers foolishly fall into the trap of overpricing their homes. In the end, buyers and their agents are more savvy than ever and realize when a property is priced too high. In doing this, sellers run the risk of their properties becoming stale on the market.
- Your home is not being represented well on the listing: You don’t get a second chance to make a first impression. This is particularly the case with real estate listings. It is critical that your property be showcased with professional photos and a description that is accurate and attention-getting.
- Your home is too cluttered: Although a seller may do a great job of ensuring the property is clean for all showings, it is quite possible that there is too much clutter. This will make the home appear smaller than it is and is oftentimes a turnoff for prospective buyers. What may be nice decor to a seller, may be too much clutter for most buyers.
- Your home is not clean: This may seem obvious, but it is more common than most people think. No buyer wants to see a filthy home. As a seller, it is critical that you present the home in a manner where a prospective buyer can envision him/herself ultimately living in the home.
- Your home improvements and/or decor is too personal: Perhaps bright orange is your favorite color & you have decided to paint your kitchen this color. While this has brought you much pleasure while living in your home, it is quite possible that prospective buyers do not find a bright orange kitchen very appealing. It is best to opt for neutral tones when preparing a home for sale.
- You are too attached to the home and the sales process is too emotional: This is a common trap that many sellers fall into. Although this particular home may have been the site of many personal or family milestones in life, you have to separate these experiences from the sales process. In the end, the comparable closed sales data and the market will dictate the value of the home. Equally important, buyers must also not allow emotions to enter the equation when deciding on a home purchase.
- You chose the wrong real estate agent to list your property: In any sales process, human beings tend to buy from people they like. It really does not matter what item is being sold, this simple truth applies to everything, including real estate. In addition to having a professional and knowledgeable real estate agent, it is critical that your real estate agent is also likable.
In the end, the market will dictate the value of a property. With this said, it is critical that attention to every detail be implemented every step of the home selling process. A great real estate agent will educate you on the selling process throughout the experience. This will better equip you both to make educated decisions on maximizing the value of your home while selling it as quickly as possible. At Live South Florida Realty, Inc. our listings continue to sell for higher prices in a faster amount of time than the market average. If you are in South Florida and are considering listing your property for sale, give us a call for a free, no obligation consultation!