Dear friends, I always have the opportunity to help my clients buy, sell and lease properties. Many times, I come across clients whose properties went unsold. Upon a close look, I found there were many reasons why their properties went unsold or were not getting the asking price. In today’s article, I will like to highlight 5 main reasons why the properties remain unsold and what should sellers do to avoid these glitches.
1. Overpricing– No matter what, we all want the best price for our properties. And that is fair enough. While pricing a house, there are various factors that matter like accessibility, schools, safety, transportation, age of the house, amenities around the area and so on. If the physical area is not offering these very inviting features, then it can be a turn off for most to the buyer.
My advice: be realistic when pricing your house. Know your area well before defining the price for your house. Know exactly the strengths and weaknesses of your surrounding. Off course, you don’t want your property to come on and off the market as that can further add to the long list of reasons why your property remained unsold.
2. Improper showcasing (Staging): It is rightly said, “First impression is the last impression”. If I want to sell my house but do not spent time, effort and money on improving the interior of my house will not lead me to the desired results. The interior of the house should be inviting for the seller so that when a buyer enters the house, he/she should feel that is the place where they want to live.
My advice: Make sure there is no clutter, unwanted articles lying around the house. You can do internet search on how you can showcase your house. Also, talk to your realtor. Most of the times, real estate agents work closely with certified home stagers and even offer these services for free.
3. Improper or Inexperienced Real Estate Agent: I have come across instances where sellers hired agent just because he/she was referred by a close friend. This is no the way actual real estate or any business work. While working with a realtor who knows you personally put you under obligation. Incase you are dissatisfied with that realtor; you have no choice but to bear him/her.
My advice: Carefully choose a realtor, know his details and how dedicated and motivated id he to sell your property, you will never regret. It does not matter that a realtor is new to business. Main point is how dedicated is that individual to sell your property. Is he thinking in your best interest? If yes, than he is the right choice. And even if you are dissatisfied with his services, you always have the choice of firing him.
4. Lack of updates: At times, people want to sell home fast but shy away from investing some money on it. It is very important to have a good face value of your property. That attracts prospective buyers.
My advice: Spend some dollars to face lift your house. Arm your house with nice updates. Just vision you are going to buy that property. What will you like to see in that property to make it worth living comfortably? Just do that. It might mean spending some money on it but at last you want to sell your home
5. Ignoring home exteriors: Exterior of you home is very important area where you should be focusing on. That will be the first thing which any prospective buyer will see. If the exterior of your house is not well maintained, it will give wrong message to the potential buyers.
My advice: Make exterior of your house inviting. Give it nice paint; mow the lawn, prune shrubs, any unwanted objects lying around should be cleaned. If needed, change the shingles. If there are any damages to the fences, get them fixes. You will have to spend some money but eventually you will end up selling your house faster and for more money.
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