6 REASONS WHY A HOME WILL NOT SELL ...EVEN IN A HOT MARKET.
Pricing a home properly is critical to the success of a home sale.
A properly priced home always sells, while an overpriced home
usually does not.
The advantages of pricing a home properly offer several benefits,
one of which includes selling it in a timely manner to avoid the
inherent inconveniences that come along with a home sale (i.e.
constantly cleaning up, making everything look its best for every
showing, and having to be absent during the showings and open
houses (including kids, dogs, etc.)). Therefore, getting a home
sold in a faster period of time is not only easier, but more importantly,
financially beneficial because a home will receive the most
attention and highest buyer interest when it is first listed for sale.
When a home is priced too high, agents and buyers will label a
home as "overpriced" and wait to see if someone else will "overpay"
for the home. In most cases, nobody does. A homeowner
then needs to endure all of the inconveniences, for a longer
period of time. And adding to that, the result is typically a lower
sale price, because the home has now sold with lesser interest
than when it was first listed for sale.
Most homeowners believe all agents do basically the same thing.
If this were true, then all homes would sell.
Also, most homeowners believe that by meeting one agent from
one company means that that was all that specific company
has to offer. I have been told from potential home sellers, "I am
already meeting with ABC Real Estate Company" or worse, "Our
friend just got a real estate license. We thought we would give
him/her a try."
Be aware that all agents are not alike, even within a brokerage
house. Brokerage firms give agents boilerplate methods of how
to market a home, but it is up to the individual agent to create
and master custom marketing plans. And what's even better?
The ones with a supporting staff. This will insure the home's
marketability and a successful sale.
It is important for a homeowner to understand that the way
we live in a home and the way we sell a home are two totally
Having a staged and "show-ready" home is best accomplished
by first consulting with a talented and forthright agent that will
explain and counsel a homeowner on how to "stage" a home for
sale; A critical step.
A "show-ready" home will help with the sale and it will sell for the highest price because it taps into the buyer's emotions. When a buyer sees a home that they fall in love with. "from floor plan to furnishings," they will typically pay their top dollar price for that
One of the toughest obstacles when working with our buyer
clients is scheduling their showings. which is typically arranged
with a listing agent.
Some agents have not properly informed their seller clients to
understand that buyers want to see the home on their (buyer)
schedule because that buyer may buy another home in
To avoid this unfortunate possibility, it is helpful to understand the
mindset of buyers and their agents:
If a buyer schedules to view several homes in a day (not including
yours) and they see a home they love. how likely do you think
their agent will say, "Before you buy this home, I need you to see
one that is difficult to show?" This is not going to happen. Why
should it? A buyer loves a home and is ready to buy it. And what
adds to that disappointment? What if that buyer was the most
eager and would have paid the most amount of money for your
home ... if only they had seen it?
This will typically happen when listing agents tell the homeowner
they will be the only person showing their home. I understand
this sounds great in theory; but in reality, it does not work for the
benefit of the homeowner wishing to sell their home.
Here are the facts: If an agent has more than one listing. (you
would hope they do. otherwise they are not active in listing and
selling homes) and they have a request to show a home. there
is the high probability the agent will have other appointments
during the day (i.e. spending a day showing other buyers homes.
attending inspections. meeting with another client. etc). An agent
cannot duplicate themselves and sadly for some homeowners,
the buyer that could have been their best bet. ends up purchasing
another home. This experience alone has made a significant
difference in getting homes sold when other agents failed.
In almost all occasions when I listed a home previously and
unsuccessfully listed with another agent. I heard my new clients
say, "I cannot believe how many showings we now have since we
have listed with you. We did not have half the amount of these showings before." The reason. my team and I created the most
effective system to show a home and will be happy to explain
this easy process.
A real estate agent's ability to communicate the correct information
to the brokerage community and buyers is important. The
opposite is also true. Poor communication equates to poor results.
Sales are either delayed or prevented by some listing agent's
inability to communicate.
Some agents are simply uninformed or unable to provide important
information on a home that was needed to help it sell. I have
also witnessed listing agents say, "I do not know the answer to
that question. and you will have to do the research." Bottom
line: When it becomes too difficult to buy (anything). people lose
interest. The same holds true when buying a home.
Other examples of poor communication: A listing agent presenting
false information. which can potentially lead to a legal
dispute. or. to the benefit of a buyer and disadvantage of the
seller, the listing agent shares too much information. When
selling a home. choose an agent that you are confident is a good
communicator and one that can properly "sell" the best features
of your home.
As disappointing as it can be for all involved. sometimes the
simplest reason that can prevent a home sale is a matter of
timing. An example: A buyer needs to close in 30 days, but the
seller cannot move until 60 days.
I have witnessed unsuccessful negotiations because of this small
yet important issue. and as you can imagine. there are many
other terms that can get in the way of a transaction.
To avoid losing the sale. an experienced agent is better equipped
to explore every option and can typically find a solution to every
dilemma. This is when your agent's experience does matter.