3 Reasons Houses Don't Sell
Monday Feb 25th, 2019Share
Many believe there are various reasons that a house does not sell. But in reality, it often comes down to 3 primary reasons, that consistently appear in situations when houses fail to sell. Avoiding these situations can be very important to the success in selling your property.
1) Not Properly Advertised- Having a listing that is poorly advertised can have a serious impact in not only the ultimate sale, but how much you are able to demand from the sale in terms of price. A poorly advertised home is doomed to a journey in obscurity. The number one most effective way to bring your property out of obscurity is to have it effectively advertised on multiple platforms and through various channels to have the most eyes on the property in the shortest amount of time. Products such as iguide video, or drone mini-films have proved to be very effective tools in advertising a property for sale. Video has increased by by 86% since 2015 as consumers most valued way to consume content.
2)Not Using an Agent (or the right agent)- It is largely thought that using a discount brokerage or selling the property yourself (For Sale By Owner) is a quick and easy way to avoid realtor fees. The problem with that is, it is not quick or easy. In fact, over 80% of for sale by owner properties end up being listed by an agent eventually and the seller experiences remorse over the time they lost because they did not have the time or expertise to effectively market and sell their homes themselves. In regard to discount brokerages, though they do offer savings from a traditional realtor, these companies collect payment upfront from the seller and in many cases the seller is left with a bill for $1000-2000 and now have no real advocate to fall back on if they need help later on. Discount brokerages overwhelmingly end up not selling and home owners more often than not end up going with a realtor after they have paid thousands, lost time and still have not sold the property.
3) Price- Ultimately the price will always be the deciding factor in whether a house will sell or not. Even if there is poor advertising, and the realtor (or lack of realtor) is not helpful, the price will still usually determine if the house is going to sell or not. Selling the worst house in the worst area is easy if the price is right. Selling the best house in the best area will be difficult if the price is not right. Having an accurately priced property not only gives some assurances that the property will sell, It also puts the seller in a strong negotiation position because it proves they have done their homework and know what is realistic (and not realistic in terms of offers) to ask.
Keeping these things in mind as you prepare to sell can be vital in your success to sell.
Josh Holland- Sales Representative