Why Your South Atlanta Home Isn’t Selling
Your home has sat on the market week after week collecting dust. Your in agony, frustrated, mad, sad and looking for answers. But who’s too blame? Here is my list of common reasons why your home might not be selling… and what you can do about it.
Price
Regardless of the circumstances improper pricing is the number one reason most homes are still sitting on the market. I love to be optimistic… I’m a glass half full sort of fella! It’s just human nature to try and get the most you can when selling your home. Some of the reasons we tend to overprice our homes is that we often have a high opinion of our property and many of us are emotional and attached to our homes… even when we’re trying to sell them. Some folks may need to sell for a certain price to pay off your mortgage. You may have bought the house for X amount. The home down the street sold for X amount just two years ago. Unfortunately the market doesn’t much care about most of these reasons. The bottom line is that the market will dictate how much your home will sell for. If your home is overpriced and you need to sell then adjust your asking price.
To sell your home in a buyers market is more challenging than a sellers market for sure. When trying to sell in a down market, there are four basic points to focus on
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Increase buyers perceived value of your property through staging, repairing any defects and keeping your home “show ready”.
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Have your home marketed to as many targeted potential buyers as possible through internet marketing, flyers, advertisements in the paper, magazines or television.
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Be prepared to evaluate offers and negotiate on amenities, financing and concessions.
Location
We’ve all heard “Location! Location! Location!” and that’s because location rules in real estate. Homes in bad locations are hard to sell, tend to be on market longer and sell at a lower price than similar homes in good locations. If your home is in an area that has high crime, bad schools, a poorly maintained neighborhood, crazy traffic, no shopping or high power lines then your options are somewhat limited. A good agent can help you accentuate the positives and dampen the negatives. One option might be to suggest that you use landscaping to screen a busy road from your property and minimize the effect high traffic has on your property.
Condition
Price and condition are the two things that the seller can do something about. There are many do’s and don’ts to get your house ready for the “Show”. A good agent can advise you about where your time and money is best spent.
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It has to be clean… spotlessly clean. Buyers are much more likely to buy an immaculate house than if they have to “overlook” the messes. It’s a pain to put your home back into “Show Condition” before you leave for work, but you are more likely to be less inconvenienced for a shorter period of time when your house impresses and sells faster.
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It has to be maintained. If you are planning on selling your home “AS IS” then be prepared to price it for less. When buyers have to factor in the items they have to fix up, then your price had better be lower or you won’t stack up with the other properties. A new coat of paint is the seller’s best friend because it makes things look and smell fresh and it’s your best return on investment.
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Keep up with the yard work. Pull the weeds, plant some flowers or pay the neighbor’s kid to cut the grass. If your outside lawn looks unkempt the buyer may not even want to look inside.
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Stage, de-clutter and de-personalize your home if possible. You may love your home but you want the buyer to see the home as they want it to be. Less equates to more value so pack away personal photos, get rid of the knick-knacks and eliminate your house of clutter. Using warm neutral colors, keeping inside plants fresh and staging your home makes people want the image that comes with your house.
Marketing
If potential buyers don’t know your home is available, then it’s not gonna sell. No matter how nice your home is or how good your price is, no marketing equals no sale. Long gone are the days when an agent could just list your property in the local multiple listing service and wait for another agent to bring forth a buyer. Top agents utilize a multilevel marketing plan that includes newspaper advertisements, open houses, fully stocked flyers, Craig’s list, individual property websites, just listed post cards, virtual tours, placements in real estate magazines, placement on real estate websites and even television ads. If your home isn’t being marketed in these ways or more, find an agent who will market your property the way it deserves.
The Wrong Agent
Experienced, friendly, enthusiastic, and diligent agents with good marketing skills are crucial where the wrong agent will overprice your home, fail to screen qualified buyers, be unresponsive to you or other agents and keep you in the dark through the whole process. With the thousands of agents to choose from in Henry County, you have the opportunity to be selective and find someone who works well with you and shares your passions, concerns and needs. I think it’s always sound to interview several agents and find the right fit for you.
Flexibility
A difficult seller who fights you every step of the way is incredibly frustrating to the buyers and agents. If you truly want to sell your home try to be as accommodating as you can in terms of showings, open houses and agent viewings. It may be inconvenient at times, but it goes a long way towards selling your home. Be open and flexible about price, concessions and terms during the negotiations. I’ve had a deal fall through over a $500.00 difference in price that in the end resulted in waiting an additional 3 months for another offer that was $1000.00 lower than the original offer.
Lastly there are just a few hot buttons to avoid:
Don’t do “showing by appointment” unless your home can be listed as a luxury property. There is so much inventory in Henry, Clayton, Butts and Spalding Counties that a majority of buyers agents will skip your house if they have to coordinate and schedule a time.
Eliminate all odors and funky smells. The house that smells doesn’t sell. Most sellers are not aware of how their pets, smoking or unique foods can drive away potential buyers by the dozen.
Don’t be home during a showing. Take a walk, visit friends or go to another room if you can’t leave. Potential buyers won’t feel comfortable with you in the same room as they view your house.