If you have a home lingering on the market this article may be helpful to you. Real estate professionals were recently polled to find some of the most common reasons why some properties just won’t sell, besides trying to overcome a poor location.
Here are four common reasons listings don’t sell in a timely manner, according to the survey:
Unrealistic price: One of the main reasons homes stay on the market too long, even when the inventory is low. Some sellers are just unrealistic about what their house can truly sell for even after they’ve seen the comparable listings, or they may be underwater and just unable to lower their price tag and avoid a short sale.
Bad decor: Loud patterns, bold colors, and dated decor styles can distract and turn off home buyers. For example, agents say that mirrored walls, cheap wood paneling, and 1970s kitchens can be turn offs. To try to appeal to the widest buying pool, agents will typically advise clients to stay neutral with their design, update appliances and fixtures, and give buyers a “minimalist canvas” for them to project their own tastes and ideas on.
Awkward floor plans or missing necessities: Strange or dated floor plans may also make a home linger, such as older homes where you have to walk through a bedroom to get to a common area or a second bedroom, missing a driveway or garage when most other homes in the area have them.
Bad photos: If your listing has yet to sell, you may want to revisit the photos being used to present it on the MLS. For example, a listing photo should not show dirty clothes and clutter in the photo, which may prompt buyers to question the hygiene and cleanliness of the rest of the home, as well as assume it has a lack of storage. Be choosy about the photos upload to the MLS, and remember that less can be more. Use well lit room photos that showcase the best rooms and features of the home. If a buyer isn’t excited about a home after seeing it online, chances are they won’t want to see it in person.
Bad smells or odors: The sense of smell is a primary factor in our sensation of comfort. Unpleasant odors can cause loss of property value, trigger adverse health effects or simply cause embarrassment. Bad odors and foul airborne smells can often indicate the presence of bacteria, mold, aerosols or other contaminants and can kill a deal.
In most cases the right sales price will overcome nearly any objection or obstacle in a sale.
