Wednesday, May 25, 2016 / by Cody Ford
Six Practical Solutions When Your House Just Won’t Sell
Some sellers view the home selling process like a sprint to the finish line. Sign the listing paperwork and off to the races you go, quickly moving toward that accepted offer. But when things don’t move along quite so quickly, frustrations often flair and expectations are unmet.
When you list your house with a trusted realtor, and the days on the market are continuing to accumulate with little interest and lots of disappointment, what are the best ways to deal with the problem and boost interest in your client’s home? Here are four key things to examine if you have a house that just won’t sell.
Examine Your Descriptions
The Realtor Code of Ethics requires that sellers disclose any known problem that has occurred while they owned the property. Realtors must use this information to paint a “true picture” of the home. When certain issues are disclosed, don’t try to disguise them on the listing or eliminate them completely. If you have a ridiculously steep driveway and you take all of your photographs without showing the driveway, you will only frustrate buyers who pull up to your house and instantly know that steep driveway is an issue. If you have had feedback regarding unsightly carpet or wobbly steps, don’t avoid it. Mention it in the listing or have your realtor talk about it to the showing agent. It’s best to be proactive and offer an allowance or the offer to repair right up front. Never hide issues buyers will uncover anyway. Be up front, but offer a solution.
Call For Backup
When sellers begin to get frustrated with the amount of time their house has been on the market, it may be time to call for back up to offer suggestions for improvement. Ask an appraiser to assess the value of your seller’s home to verify the asking price is where it should be. Have the sellers find an appraiser through their lender so they can be sure of an objective analysis because lenders will never loan more than what they believe a property is worth.
If updating is needed, ask a contractor to weigh in on the amount of money it would take to revive this property properly. If you are still not getting very far with your sellers, consider having an agent open house to introduce them to your property and then ask them what they think the issues are in the house. If agents will be bringing people to see your property, they might hesitate if you don’t start repairing or remedying the issues that have been addressed.
Show and Tell
Many sellers believe they have the best house on the block and oftentimes the best house in the community. Take a look at some of the nearby comps and make an appointment to preview any of the comps that you believe have a much better presentation and higher end amenities. Let them compare price and features to see for themselves how their home stacks up against the competition. Always ask the seller to picture themselves as the buyer and picture their home as if they are seeing it for the first time. Ask them what it is they would want to change if they were the buyers. This just might facilitate a conversation about lowering the ask price.
Get to the Point
Oftentimes, no matter what home improvements your sellers make or what renovations you request for the sellers to make, sometimes they just never follow-through. If sellers don’t take the steps necessary to sell, it may be time to politely decline the listing because a seller hires a realtor to look out for his best interest and when they don’t follow that trusted input, you will continue to be stagnant. Some realtors like to use the phrase, “you need someone who has new ideas.”
At the Trish Ford Real Estate Team, we have lots of new ideas to help get your house sold the first time. We develop a strategy for all of our sellers that puts them in a competitive market with a plan to stay competitive. When buyers begin their search for Louisville area homes for sale, we are confident they will find your home promptly. Let us make your home selling process a smooth and simple process.