Why is my Property Not Selling?

Why is my property not selling

Present homebuyers are now exposed to the advantages of being tech-savvy. The need to inspect the property online became crucial as health restrictions were heightened. One of the many things that they check, aside from the features and amenities of the property, is the number of days it has been listed on the market.

Although the average number of days it takes a home to sell varies per area, it is common knowledge, the longer the property has been listed in the market, the more it is likely to fall below its list price. Interested homebuyers would wonder why and this poses a serious setback to sellers.

If you are under the same circumstance, below are some tips that might help you break out of the bind.

The façade needs some work

First impressions always last. Before an interested homebuyer evaluates the likable features of your home, what welcomes them is the façade of your property. Experienced agents know that this is the first thing that you need to do to improve the marketability of your home. A well-landscaped, neatly-manicured front yard has more brownie points than properties with no landscaping.

There are missed home improvement opportunities

If you are also living in the property you’re about to sell, it’s quite difficult to see which parts of your home need some TLC. Your familiarity with the property is detrimental at this point in time. If you haven’t yet, consider getting the professional help of home stagers. A fresh set of eyes would be looking into your property with a new perspective as to how the general public would view it. Your personal preferences might be different from how people would want to view your property.

Getting your property staged doesn’t come without any emotional challenges. It may feel like your privacy is crossed when stagers point out areas to improve when it used to be normal in your eyes. The best approach to go with this is to treat this as purely business – you as the businessman and the homebuyers as the consumers. Once you see that this is all transactional, the emotional hindrances of the sale would be minimal.

Related: How Furniture Styling Adds Value When Selling Your Property

The distinctiveness of your property is not highlighted

The reasons you bought your home may be the reasons why others would want to buy the property too. Highlighting these features with your personal recounts is a brownie point and adds value to the emotional appeal of the property. It is the agent’s responsibility to pass this information to the prospective buyers.

Having these features might also mean that you need to explore further channels and platforms to showcase your property. An experienced real estate agent knows where to enlist your property for sure.

But while at the task of giving your property features a different light, it’s important to also learn the general market’s preferences and try to improve what is applicable to your property.

Your property might be 2-3 steps behind being “move-in” ready

Every homebuyer wants the property to be in mint condition, sparing them of the minor repairs that the property needs. Things that are simple as broken doorknobs or dripping faucets can drive away potential buyers. Another underlying implication of repairs is cost. The more items to be attended to, the more they mentally calculate how much they would shell out if they decide to buy the property.

If the items in your repair list are beyond you, you may want to consider selling your property as is to an investor. It is important to note that in this circumstance, the property will be sold in a short span of time but less than its selling price.

A little touch-up may go a long way. As the owner of the property, familiarity may not be your friend so be sure to get a fresh pair of eyes to help you evaluate what needs to be done with your property.

 

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Posted in Blogs on 24th November, 2021