Why Won't My Home Sell?

I was in the gym the other day talking to a buddy of mine. His friend has his house on the market. After he told me that I could immediately see frustration in his face. I got the, "Why hasn't my house sold yet?" question from the guy. It is a pretty common question that many Realtors get from sellers.

Here are 5 reasons why your home may have not sold.

1) Lousy Photos

There are a lot of properties out there for sale. Buyers typically have several properties to choose from so sellers really need to set themselves apart. Roughly 9 out of 10 buyers start their search on the internet. If you have limited photos or if they are blurry or dark you really hinder your chances of having the buyers want to see your home.

When I am scanning MLS to find properties to show to my buyers I always lean toward the homes with great photos and a virtual tour. I see so many listings out there that have lousy photos. Properties with great photos will get more showings.

2) Bad Condition

Buyers do not want to buy a project or someone else's to-do list. A beat up house with a lot of deferred maintenance will scare off a lot of buyers. Usually the only people interested in these types of properties require a great discount. Again, you are competing with alot of other homes out there. Make your home shine.

3) Bad Realtor

Selling a home today is not easy. Hire a good Realtor that has track record of selling homes. It is fine if you hire someone new but make sure they are on top of the market. We are not in the kind of market where you should hire your sister's son who has got his real estate license in 2004 when it was a hip thing to do. This may be your largest financial transactions. You will save yourself tons of headaches if you hire a full time professional Realtor.

Also, be cautious of discount brokers. I want to save money just as much as the next guy however many times in life you get what you pay for. Would you go to a discount attorney if you were on trial for murder? If you needed brain surgery would you hire a part time doctor? There is a big difference between brain surgery and selling a home but there are times in life when you want to pay what the market deems as fair and hire a professional. If you want to pay peanuts many times you end up working with monkeys.

4) Dirty Home

Don't try to sell a pigsty. No one wants to buy your mess. There are just too many other clean houses for sale out there. If you want to fetch top dollar for your home then make it clean and have it show well. A dirty home can make the buyer worry about the lack of ongoing maintenance of the home such as air conditioner, appliances and pool equipment.

5) Price

This is the most important piece of the puzzle! This market is tough and buyers are more cautious than ever. If you have the wrong asking price on your home it won't sell. Buyers need to feel like they are getting a great deal. That is always the case but it is more pronounced now than ever.

Put your buyer shoes on and be objective (hard for many sellers). Why would a buyer pick your home over competing homes? Look at competing homes in person or through photos and virtual tours on the web. Find a price that makes your home the best deal.

In conclusion, if you have lousy photos then you better have a very good asking price because you won't have as many showings. If you have a dirty home then your asking price better reflect that. If you have a bad Realtor then your asking price should compensate. If you have a lot of deferred maintenance then you better have a good asking price. See a common theme here? The right asking price is crucial to a successful sale. If you want to get the most for your home hire a great Realtor with an effective marketing plan who provides great photos, clean your home, repair your home and find a realistic asking price.

If you want to sell or buy a Sarasota home give me a call at 941.812.6272. View my Sarasota homes for sale page to view thousands of properties for sale.

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