The Three Reasons Houses Don’t Sell

There are three reasons houses don’t sell in any market; Location, Condition and Marketing.  I know many homeowners out there feel that it is just the market but in reality there have always been good markets and bad markets and houses keep selling.

Location is what realtors call an incurable.  You cannot change the location of your property, it is where it is.  Something to consider though when battling a questionable location is to draw the buyer inside and make sure the interior of the home is the focus not the exterior.  This leads me into condition.  A house that is in good condition is always more desirable than a house in bad condition.  This is especially true when the market is slow.  There are many buyers out there looking who are no longer looking for a fixer but for a value property that is move in ready.  The best way to make sure your house is in sell able condition is to have it staged.  A staged property statistically sells faster than a property that has not been staged.  Some real estate offices and sellers are using this knowledge and setting up in-house staging available when signing a listing.  Home staging services take the pressure off the homeowner and expedites the time to get a home listed.

The final reason a house does not sell is marketing.  This refers to many different items.  The price, number of open houses, how a listing is presented on the MLS, is it being marketed through direct mail or the Internet.  Times have changed and no longer do a sign and an advertisement in the local paper sell houses.  The buyers are becoming more and more savvy with websites that they now can go on to preview listings.  With this in mind, the process of hiring a Realtor has also evolved.

Selling a home is probably one of the biggest business transactions you will undertake.  Sometimes it can involve millions of dollars. A seller should interview a number of Realtors just as if they were interviewing an employee for a position with a salary of millions of dollars.  A seller should also look at time on market, while listed with a broker and evaluate if that broker is marketing the property as promised or if the listing is getting stale because they have moved on to their next listing.

Some commissions vary but this is usually in direct correlation with service.  Saving a percentage point on commission may in the end cost you more money because the house takes longer to sell.  Every property deserves the same attention from a Realtor whether it is a million dollars or less.  Agents who will accept a smaller commission will usually do less work and stockpile listings to win the numbers game.  This is never in a seller’s best interest.

In conclusion, do your homework, interview at least three competing firms and make sure you determine which Realtor will be working the hardest to sell your home in the timeliest fashion with the least burden on you.