Reasons Why your property is not selling?
Selling a home or apartment is an integral part of the real estate process and at some point many homeowners will experience the ups and downs of marketing and selling their property to buyers and investors. There are several factors that may cause a property to remain unsold with little to no visibility for extend period of time. For many homeowners trying to find the right buyers, setbacks and pitfalls may arise depending on the number of days/timeframe the listing is on the market without being sold, as well as many other factors. Properties marketed for sale that can’t attract buyers within a certain timeframe will be more difficult to sell, which may cause the house to become stigmatized or shunned due to a negative perspective of the home, location, price or all of the above. Here we will discuss factors that may affect the early sale of a property:
Correct pricing of your home to sale is one the top determining factors in whether you’re home will sell or sit stagnant on the market. Go above market price and comparables in the area and you may receive much scrutiny or heavy negotiation from buyers, if you’re lucky to attract one. Buyers look for bargains and deals, and very high pricing is certainly the number one reason why properties are not sold.
The way you value your property may not coincide with the property’s “real market value.”
Experts will reveal that the closer sellers are to being realistic with pricing in their area, the more likely they’ll be able to achieve a closed sale with less time on the market.
Studying the latest sales and “comparables” of similar properties for sale, and making the adjustments according to both unique and similar characteristics of your property, will allow Sellers to correctly market a competitive and advantageous price.
Buyers who recognize the fairness and accuracy of the “real pricing” will be more likely to trust that they are getting their money’s worth for a property which may prompt more interest in your home.
Little flexibility to negotiate
Even with competitive pricing, many buyers will want to negotiate with various offers. When pricing leave wiggle room for buyers to discuss pricing and bargaining.
The chances of selling are reduced, if pricing is non-negotiable or firm.
In addition to the price, buyers may request other benefits or incentives as a contribution to closing costs.
Be aware of including accessories and electrical appliances or anything of value that would benefit the buyer or sweeten the deal. If leaving a ceiling fans, or electronics such as a T.V. can make a difference between selling or not, consider whether it is worth including, even if was not in the original plans.
Prepare the property for sale
Keep the exterior and interiors well maintained. Clean the property in detail, including closets, nooks and areas that buyers will want examine in detail. Eliminate bad odors; In English there is a saying "If its smells, It cannot sell,"
Save photos, flowers and other items that make the property look very personal and lived in.
Evaluate, based on price, whether any repairs or renovations can improve the sale of the property. Small defects cause the buyer to reduce their bids and offers.
Implement an effective marketing plan
In addition to placing the property in the Multiple Listing System (MLS) for other real estate professionals to offer buyers, find a good real estate agent that will develop a strategic marketing and sales plan specifically designed for your unique property.
Network of contacts
A real estate agent with an established network of contacts that includes realtors who have sold in your area, potential buyers and investors; as well as other resources that can help you sell is the best guarantee that all efforts for the sale of your home will produce results in the shortest and most efficient amount of time.