The Real Estate Encyclopedia
Why a Home Doesn't Sell?
Category - Home Selling Questions - Staging & Marketing FAQ's

                                                              
The number one reason a property does not sell is Price: 
Ask listing agent to get feedback from the agents who have shown the property and LISTEN.  If the buyers say your residence or property is "too small" that means your house is priced too high and the wrong buyers are seeing the property. 
Asking too high a price and telling agent you will be flexible when negotiating generally does not work simply because the buyers who will appreciate what your home has to offer aren't viewing homes in that higher price range.                                                             
New competition since property listed are listed for less           
New market analysis, lower price, offer buyer incentives, give written permission to use "Seller Motivated"  in print ads and Internet.
Price range not moving                                         
Offer buyer incentives, add multiple pictures to the MLS, and ask agent to target market most likely buyers.                                                                                       
No showings                                                            
New market analysis, lower price; effective price reduction may need to be as much as 10%.
Many showings but no offers                               
Lower price; effective price reduction may be about 5%.
Unsuccessful offers                                    
If several offers are in same price range, market may be speaking to you.  Reduce price to amount you counter-offered last buyer. 
Price reductions aren't working                           
New market analysis, lower price below the next price point to avoid chasing the market.  
 
Condition                                                                   
Basic
Ask agent to point out ways to improve. 
Basic needs most likely to clean and deodorize carpeting, paint walls a neutral color, clean cabinetry, scrub bathrooms and caulk, de-clutter (pack, send to storage or toss out), weed flower beds and mow lawn. 
Landscaping
We can't sell what the buyers can't see, so prune overgrown shrubs and trees that may be hiding your property.                                                                               
Pets                                                                           
Clean and deodorize carpeting, groom pets, change cat litter every other day.  Remove pets when a showing is scheduled. Put pets in cages or garage if showing is scheduled when you are not home.
Odor                                                                          
Use baking soda on pet bedding and carpets before vacuuming; put dishes of vinegar out to remove smoke odors, do not cook foods that may leave a strong odor (fish, cabbage, etc.).
 
Location
Location not desirable (on busy street, near train, next to commercial area, etc.)
Lower price as much as 5-15% (compared to similar property in same condition in better location).
Neighbors property needs work              
Offer to mow neighbor's lawn, paint front of his house (or area visible to your home) or clean up yard. Inquire about low cost Community Redevelopment programs in your town if house needs repair and owner is willing to do them but lacks financial ability.  Erect fence if that will help hide unsightly views.
External influences (New building to block view, street widening, etc.)                                                           
Lower price as necessary. Buyers buy by comparison.
 
Market                                                    
Oversupply or slow market                                  
New market analysis, lower price, offer buyer incentives.  Incentives to buyer's agents are generally not as effective.
Property has become "shopworn"                      
Offer new boker inspection day. Bring property back on market as a new listing, add new photos, offer buyer incentives e.g. Owner will give redecorating allowance, offer to pay buyer $_________ for actual closing costs, owner financing, etc.  Ask your agent for suggestions.
 
Accessibility                           
Difficult to show/not readily accessible
Change showing instructions if necessary.  Buyers need to see homes on their schedule, not yours.  Use of an electronic MLS Lockbox is generally the easiest way for agents to show properties. Reconsider request to have listing agent accompany all showings; many buyers want to see homes on short notice, buyer's agent may not have time to call your listing agent and wait for callback.
Agents  not showing property                               
First review price and lower if necessary. Discuss accessability with listing agent to identify problem.  If listing agent is readily available to accompany showings, consider price.
If listing agent is not readily accessible to accompany showings, ask to have appointments made directly with you. 
 
Marketing
Presented poorly in MLS                                        
Change remarks and add multiple photos.  Evaluate photos that portray your home; hire a professional photographer if necessary.
Poor presence on Internet                        
Ask agent to add your listing to REALTOR.com and local MLS public web site. Give permission to add to Internet Data Exchange web sites so your property may be shown to other agencies buyers. Consider individual web site for home (place web address on 'For Sale' sign).
Ineffective advertising     
Check written marketing plan agent gave you when you listed the property. Check to be sure agency is delivering as promised by asking for list of all ads placed by company. Consider raising commission to get more marketing.                                                                        
 
Category(s)
Home Selling Questions - Staging & Marketing FAQ's
Home Selling Questions - Selling Legal & Closing FAQ's
Home Selling Questions - General Home Selling FAQ's
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