Thursday, October 17, 2019 / by Ariadne Gold
So your home has been on the market for a month or more. You’ve gotten some showings, but no offers. What do you do?
This can be a very frustrating situation. You might need to sell your current home so that you can move into your dream home. Or, maybe you’re moving out of state to be with your daughter and new grandbaby. Whatever the case, most people who list their home want to get it sold quickly so that they can move on to the next stage in their life. Here are some tips for things to do if your house isn’t selling!
1 . Price
The two main things that drive home sales are condition, and price. Is your home priced correctly for the area and condition? Your Listing Agent should have showed you comparable properties that have sold in the last six months (I prefer to do three since our market is moving so fast, but sometimes that’s not possible depending on area). These properties should be in the same area as your home and have similar layouts and condition. While we are currently in a seller’s market in Spokane, buyers are well educated on the market value of homes and most will not pay over the value that a home will appraise for. If you haven’t done a price reduction yet, this may be a good idea. If a home sits on the market for a significant amount of time without any price changes, buyers tend to think that the seller is not serious about selling the home.
2 . Condition
Is your home in move-in ready condition? Many buyers want a home that they can move right into, and not have to worry about doing repairs or painting. Does your home need new paint, carpet, or flooring? If you can’t afford to do this prior to listing your home, consider offering potential buyers a credit for those items. Not only will this give the buyer peace of mind that they won’t have to pay for them, it will also give them the opportunity to pick colors and materials that fit their style.
3 . Pictures
Have you had professional listing photos taken? This is a very important marketing piece. According to the National Association of Realtors, 44% of all home buyers start their search online and those photos are how they decide whether they want to look at your home. Bad photos (like a close up picture of the showerhead… why?) can run off potential buyers.
4 . Staging
Have you had your home professionally staged? If you’re still living in the home, it may be necessary to remove some items and de-personalize (buyers need to be able to envision themselves in the space, and that’s made more difficult when there are a lot of personal items and pictures.) At Haven Real Estate Group, while preparing your home for sale, we walk around the property with a sticky note pad and put notes on things that need to be removed or re-arranged. If you are no longer living in the property, professional staging can help buyers see what the home could look like with their furniture, rather than just empty rooms.
If you have done all those things and your house still is not selling, there may be another reason why. Houses in higher price ranges ($500,000+) and specialty properties (lots of acreage, farms, unfinanceable properties, etc.) do tend to take longer to sell as there aren’t as many buyers looking at those types of properties. In that case, it would help to market your property on different sites. Selling a farm? Join some Facebook farming groups in your area and post it there! There are lots of marketing options rather than just the regular Zillow, Realtor.com, Etc.
I hope this helps, and as always, I’m here to answer any questions! (509) 217-7172