Why Can’t My Neighbor Sell Her House?
My neighbor deserves the same advice that anyone else does having this same problem. I’ve been trying to tell her that her main problem is overconfidence. She loves her home, and rightfully so. It’s a great home in a pleasant neighborhood so what’s the problem? It’s not always as easy as it might seem to sell your house as soon as you’d like, even in this Seller’s market. Buyers don’t always fall in love as much or as quickly as you do unless you make it appealing to them.
Most importantly, it may not be priced right. Certainly, my neighbor’s home is OVERPRICED for the neighborhood. Other homes nearby have commanded high returns but they have been newer and in better shape. As I advised my friend, placing a price above market on your home will simply keep it on the shelf too long, raising the suspicions of potential buyers; thus, losing their interest. You may feel it is worth that much but it won’t benefit you at all if buyers won’t view it.
Before placing a price tag on your home, be sure to do the research and discover the cost that other homes in the area are selling for, the age and comparable condition of those homes, and be sure your asking price isn’t over the average in that market. Perhaps even price it a bit lower to sell quickly. Get all your landscaping, plus upgrades done as well. Have a licensed inspector evaluate all home systems such as plumbing, heating, termite inspections, etc. to be sure those potential repairs do not add to your costs after the sale.
Is her real estate agent doing a proper job? Since my neighbor’s home has been on the market for close to five months, and most in this area sell within a month or less, I have questions. You must have a motivated agent and can’t leave it entirely in his hands. I’d communicate with any agent regularly to be sure the property is being promoted in every way possible. Agents make money selling other property too and perhaps my neighbor’s hasn’t taken a high enough priority. Choose an agent who has high integrity, references, exceptional negotiating skills, and excellent social skills. Is your real estate agent advertising and having frequent open houses? I even advised my neighbor that if she wondered how her agent is doing she could have a friend call as a customer. See if the agent mentions her property. Who knows, maybe her friend will buy or give a reference! If my neighbor truly isn’t happy, she should change agents as soon as possible. Especially since two homes have actually sold on this very block within a month of listing, it might not be such a bad idea. In fairness, she should talk with him first about such high prices but I do see other problems. My neighbor needs professional guidance and assistance, which is what an agent provides. As a seller, she should advocate for herself: call her agent since he’s not calling enough, discuss her needs, obtain his advice, and follow it. If that doesn’t work very soon, I sincerely advise her to find another real estate agent.
Good photography is essential! If the listing language and photos online are boring or messy it can lack appeal. On the other hand, if your real estate agent lists enticing pictures online and also makes them available in front of your home next to your FOR SALE sign they may attract prospective buyers. Many buyers look online first or drive throughout neighborhoods. According to Forbes magazine, the first impression online is made within 10 seconds of seeing the pictures. Colorful, descriptive, photos can enhance your home by showcasing some of your best and most comfortable rooms. Of course, always show a front view with a well-tended yard or clean front. Mention the things that make your home cozy and beautiful without exaggerating.
Do you need simple renovations, such as a quick paint job? Again, first impressions make a huge difference. Be sure the front of the home is clean.
Don’t underestimate the importance of smells. If you have a pet or smoke, that can affect many people. My neighbor couldn’t understand, at first, that no matter how friendly her dog is, some people are simply afraid of dogs. Keep your dogs out of sight when potential buyers come to view your home. Be sure carpets are cleaned of pet all odors and definitely do not smoke anywhere close to the house.
As I advised my neighbor, if you don’t want to be bothered doing all the work of small renovations, etc., you’ll have to majorly drop the price and you’ll then sell more quickly to someone willing to handle it for themselves. I wish my neighbor the best. If she’ll lower her price enough, she’ll sell quickly.