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5 Reasons Your Home Isn’t Selling (It’s Not Always About the Price!)

reasons your home isn't selling

In today’s real estate market, homes are not generally sitting on the market. There are many variables when it comes to selling your home but for the most part, as the economy has improved, so has the real estate market.

In the past, putting a “For Sale” sign in your front yard may have been enough, but today, your buyer is most likely starting their search on-line. If they do see a “For Sale” sign in front of your home, they want to be able to pull ALL of the details up about the house WITHOUT calling you. We are living in an age of technology and the best way to get top dollar for your home is to stay current with this ever changing world of real estate.

The real estate market is complex: there’s both a fine art and an exact science to selling a home that does well on the market. Many real estate agents will say it all comes down to price, but here are a few tips to consider BEFORE reducing your price.

You might be turning off potential buyers in ways you never even realized.

Here are the top five reasons a house may not be selling:

 

  1. The home is outdated

Does your home have orange shag carpeting from the 1970s and bright pink paint in your living room? Perhaps it is time to update the interior of your home a bit. By not keeping your home updated with the decade’s general interior design trends, you risk turning off potential buyers right when they walk in the front door.

In order to update the home into something that fits with the times, new buyers would have to invest a substantial amount of time and money into remodeling the home – time and money they probably don’t have unless they are hobby enthusiasts in fixing up homes. There are many ways to update your home but not completely renovate it. For example, many times, a bathroom just needs to be painted and the toilet/vanity swapped out for something neutral.

When selling, you typically want to invest the least amount of money into the home in order to get it sold. There are some situations though that it would make sense for an owner do extensive renovating in order to make a more significant profit on the home. We call this “flipping” your own home!

 

  1. The photographs are ineffective

In real estate listings, hundreds of photos compete to get noticed. Make sure that your photos count. If your shots include cluttered rooms or show little but darkness, odds are that you won’t get that sale you want.

Your photographs should include ample natural light and you should shoot them at wide angles to get the maximum view of the rooms. Take several photos of the kitchen – it’s the most important room in the house. Make sure to take pictures of the backyard for those potential buyers with kids and/or pets.

There should be NO clutter, and the house should be as staged as possible. Though not every time, the right photographs could mean the difference between a fast sale and no sale at all.

 

  1. The marketing is poor (or not there at all)

Do you have compelling text that really shows the great little nuances that make your home special? If you aren’t much of a writer, you could miss out on a prime sales opportunity. Hire someone or find a friend that writes well to help you with drafting your listing. The listing should jump off the paper and excite people to view your home!

Where have you placed your listing? If only one or two places, you’re missing out on the power of the Internet. Your most effective way of marketing your home is to get it into the Multiple Listing Service. We’ve seen sellers try to sell their home on their own and they only are marketing to about 10% of the buyer pool for their home because they are only on a couple websites. When you are not maximizing your marketing exposure, you will almost always sell your home under market value. When you are reaching close to 100% of the buyer pool, you can almost guarantee that you will get top dollar for your home, especially if the marketing, photos, & staging are in place.

You or your Realtor should also have marketing materials for the home to give to potential buyers. These colorful marketing pieces give potential buyers an excellent visual representation of your home so that they will remember the home when they leave.

Marketers often underestimate the power of video. Now Facebook has a 360 degree video capability, so you can provide a virtual tour of your home on your Facebook page. You can upload the same video to YouTube, which is the second largest search engine after Google. Use the power of social media to successfully give your listing marketing campaign a substantial boost.

 

  1. The location isn’t ideal

Unfortunately, if your house isn’t selling for this reason, there’s not much you can do about it. Potential buyers like locations close (but not too close) to major shopping areas, schools and accessible transit. If your house has no proximity to these, you’ll need to play up your home’s other positive qualities even more. Does your home have a big backyard or walk-in closets? Time to make those qualities shine! Other possible location objections are…backs to a busy road/highway, on a busy street, looks out over commercial property, backs to commercial property, near large electrical lines, close to water treatment facilities, school ratings are low in the area, etc. If your home has location objections, the ONLY way to overcome these objections is with the price. You have to be at a lower price than comparable homes that do not have these same objections and many times your price has to be significantly lower in order for a buyer to overlook those objections.

 

  1. Layout/Floor Plan

When your home has a layout or floorplan that does not appeal to a lot of buyers, this causes issues with resale. For example, if you have a home with no formal dining room, this will be a turn off to many buyers even though the trend with dining has become a lot more informal over the years. If your home does not lend itself to having the space for dining, buyers will walk away because they don’t have room to have their family over…even if they have never had their family over before. It is the idea that this wouldn’t be a possibility for them that is the turnoff. Another issue is if the layout in that general area has a formal living room and family room, but your home does not, buyers will most often decide against the house. If your home doesn’t have a basement, you need to be sure to be priced accordingly. Homes without basements tend to sell at a much lower price than homes that do have basements (finished or unfinished). Are your bedrooms tiny? This will be a huge factor and may cause a delay in selling your home no matter where your home is priced. Staging helps tremendously when it comes to odd layouts.   Sometimes a buyer just needs to see how the space can be used. Unfortunately, many buyer cannot visualize what a space could be so you have to do it for them in order to ensure that they see ALL of the possibilities!

You may not realize what is holding you back from selling or getting top dollar for your home. Get an objective opinion from a family member, friend who knows about real estate, or your Realtor. Make sure to be prepared for their honest assessment. When it comes to selling, if you want to maximize your investment, you need to be prepared to hear the truth.

A few simple changes could mean the difference between selling your home quickly and having it on the market indefinitely!

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