8 Reasons why your house won't sell!

By
Real Estate Agent with Coldwell Banker Residential
http://actvra.in/qPx

Karl Hess was good enough to remind me that it's been more than a year since I published my perennial favourite blog.  So I'm republishing, and updating it now... and thus far, each year I've been able to add a reason.

Back in August of 2009, I published a post called 6 Reasons why your house won't sell.  It garnered an unbelievable (at least unbelievable for ME) 192 comments, after being viewed 8667 times, and having 7,934 people "click" on it.  That means that 2.4% of the people who viewed the post, were moved enough to leave a comment behind.

The average, at least for me, has been less than half of that return... more like sightly under 1%.  It was also "reblogged" by an astonishing 47 Rainers to share with their readers.

Soon after posting, a local Chicago Realtor publication contacted me, having found the article on Active Rain, and asked if they could publish the article, with my byline, of course.  As you might imagine, I said "yes", and picked-up 438 copies of that issue (my mother loved them). 

The last iteration "7 Reasons why your house won't sell", had over 60 reblogs and 258 comments... (with over 11,000 clicks +68 short URL clicks, and over 12,000 actual VIEWS!) which was in-freakin'-credible...WOW so I thought there might be a fresh generation of Rainers who hadn't yet seen it... so here is my newest iteration.  As you can see, now we're up to EIGHT reasons.

________________________________________________________________________________________

8 Reasons why your property won't sell.

1. Your property won't sell because your photos are "less than impressive". Yep, this is an actual photo from our MLS, just came on brand-new this morning.  Apparently the place must be really awful, 'cause the agent didn't even dare step out of her car, to get close to the property so you could see any details.

The vast majority of home buyers begin their search for a home on the internet, so your property had better look fantastic in print. Not just nice, it has to look downright fabulous.  Today an internet view is the same as a 'virtual showing'... if your house gets past that, then they might (just might) make an appointment to see it in person... You should really consider that your SECOND showing. Today's online viewers are expecting good quality photos (and lots of them...the picture below... taken from Google Maps... is completely unacceptable.  That's a $500,000 listing, take a moment and your digital camera and force your agent to go earn their commission), a virtual tour, maybe even a floor plan, and they need to be high-quality, or don't bother.

2. Your property won't sell because it's overpriced. It's important to be as objective as you possibly can.  Look at the home as though you were a "buyer"... if necessary, make an appointment with your Realtor to view other properties that are priced comparably to yours.  Be brutally objective.  Given the other options on the market (and yes, you DO have to include short sales and foreclosures on your list... your potential buyers are!), would YOU buy your home, over the others that are currently available on the market?

If the answer is "NO", (and try to be as honest as you can) well then you have your work cut out for you, don't you?  You either have to "update" your home to meet or beat the competition...(that might mean an updated bathroom or kitchen, or neutralizing some decorating... remove that old wallpaper that was there when you bought the house or lower your price to adjust for it.  if you can't afford to sell it for the price, that you KNOW it should sell for, this may not be the right market for you to sell.  Consider taking it off-market.

3. Your property won't sell because it shows badly. This could mean almost anything... from the 60 pound Rottweiler, barking and drooling at the potential buyers from behind the safety of the flimsiest child-gate, to the lingering smell of 30-years of smoking.  Maybe the carpeting shows traffic-pattern wear, or your nicotine covered windows allow in slightly less than daylight.  All things that aren't visible from the internet, but whoa.... once you get inside the house... they show up, like a cat-urine-soaked-shag carpet on a 95 degree day in New Orleans!

4. Your property won't sell because you're invisible. Today's buyer comes from the internet, almost exclusively.  Have you (or your agent) simply plopped the property on the MLS, and started praying?  Are you on all the websites...(Trulia, Zillow, Craig's List, Google Base, etc...) all the places that buyers are searching?  If not, you need to be, now! Don't try to be a secret, in today's electronic world.  You want to be found, and the sooner the better.

If you're not making full use of the internet today, you're out of business before you've started.  C'mon people... get on board, the train is leaving the station. (I love a good train metaphor).

5. Your property won't sell because your listing is tired and stale on the market. Okay... yes, you overpriced your home initially when you first came on the market a year and a half ago.  But since then you have reduced your price almost monthly, constantly chasing the market down. Now, finally you're truly priced where you believe should be, but your listing (not your house) has become tired and stale.  Everyone who is looking for your type of property (ie: 3br/1.1 bath) in your area has already seen the listing online, or in person and they remember that there was "something" about it that they didn't like... but what they don't remember is... what they didn't like.... was the price.   Time to take the listing off market.  Let it cool off (3-6 months), and bring it back on fresh in the Spring.  Yeah, you'll have 6 mos. worth of holding-costs... but you'll more than make up for it in your purchase price.

btw... Resist the temptation to bring the house back on at a higher price, than when you left the market.  Just "don't do it"!

6. Your property won't sell because your house won't appraise. The house looks great... you've finally gotten someone to bring you a bid on your slightly over-priced, but beautiful pied-a-terre.  But the bank appraiser says it's worth $20,000 less than your buyer has agreed to pay.  Heavy sigh... bite the bullet.... negotiate with them.   If you have to drop the price $20,000 to make it work.... "make it work"... chances are, anybody else trying to buy your house will run into the same problem. If you're not willing to negotiate the difference, you may find yourself with no buyer, and accepting a lower offer somewhere down the line.  Appraisals carry a great deal of weight these days.

7. Your property won't sell because it's unavailable to show. You have a baby, and a 1-year old.  And they need their naps.  So you've told your Realtor in no-uncertain-terms, that you'll only allow showings between 9:00a.m - Noon, and then again from 2:30-5:30 p.m.  And no showings on Saturday or Sundays.  "After all", you've told him "we still live here.. it's our home!".  Well guess what?  They can't buy it, if they can't see it.  As good as your online photos are, they're no substitute for an in-person visit. "If they really want to see it, they'll reschedule", you're already answering as you read this.  Nonsense!  What they'll do, is they'll just move on to the next property in line (there are dozens like yours available) and maybe they'll buy that one instead.  Once you put your property on the market it stops being your "home", and has become your "product".  And you want your product to be seen by as large a buying audience as possible.

8. Your property won't sell because you have the heat and power turned off. Okay... maybe it's an REO, or maybe you're no longer living in the home.  But viewers need to be able to feel comfortable when they've viewing your home.  You want them to spend time in the home and get a sense of the place.  You don't want them standing in the darkened foyer shivering, breathing on their hands to keep their knuckles from freezing in position.  If they can see their own breath, the house is too cold.  It's just not an invitation to spend time in the home.  Have the power on, and leave the heat running, at least high enough to keep viewers from shivering.  It doesn't have to feel like a tropical paradise, but it shouldn't feel like the north pole, either.  Ain't nobody gonna buy that igloo.

- 2.5

Posted by

 ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

Do not copy the content of this blog, without first contacting the author for permission. 
Reblogging IS allowed. All other use is strictly prohibited without express permission from me.

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Re-Bloggged 26 times:

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  4. Pacita Dimacali 01/05/2012 12:47 PM
  5. Elyse Berman, PA, ABR, GRI, Realtor 01/05/2012 01:13 PM
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Show All Comments
Rainmaker
120,337
Wayne Turner
Turner Real Estate Group

Great list and very true - thanks for sharing!

January 11, 2012 04:34 PM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Wayne - you're very welcome.

January 11, 2012 05:01 PM
Rainmaker
586,030
Joy Daniels
Joy Daniels Real Estate Group, Ltd.

Alan~
What a great post.  I really enjoyed reading your list!  I can think of clients that fit into each of those categories.  I think all seller's should read this before listing their home!  Thanks!!

January 12, 2012 12:23 PM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Joy - unfortunately.... we all have clients that fit these categories.

January 12, 2012 12:27 PM
Rainer
173,763
Susan Rupert
Susan Rupert
Kissinger Bigatel & Brower REALTORS

Alan-thank you so much for reposting. A lot of the times it is the price. I agree we should give this to all our sellers prior to listing their homes. Keep the posts coming. 

January 16, 2012 11:40 PM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Susan - I'll do that... (like I could stop them if I tried).

January 17, 2012 08:25 AM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Anonymous comment #141 - thank you... seller motivation is very important.

January 18, 2012 06:08 PM
Rainmaker
512,263
Russell Lewis
Broker,CLHMS,GRI
Realty Austin, Austin Texas Real Estate

I love this and the fact that a post can be reposted months...years later!

January 24, 2012 09:19 AM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

andrina jess - spam, spammy, spamster... buh bye.

Russell - I sure don't mind that either.

January 24, 2012 09:47 AM
Rainmaker
253,300
Robin Rogers
ABR, CRS - Real Estate Broker & Investment Adviser
Robin Rogers, Silverbridge Realty, San Antonio, Texas

I am thinking of working on my laptop for a few hours a month, instead of my desktop for hundreds of hours a month. Seems like the pay is good. :)

January 24, 2012 10:06 AM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Robin - I'm sitting with my laptop right now... and not being paid a dime.

January 24, 2012 10:07 AM
Rainer
6,619
Andrea Pena
Amcap Mortgage, Ltd.

I agree with the virtual tours!  Our company provides our agents with a single property website, and the buyers LOVE IT!! (as well as the sellers) 

Keeping the house clean is DEFINITELY a must!  We tell our sellers to view their home the way a buyer would view it!  It's the little things that make a HUGE difference!

June 14, 2012 02:14 PM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Amcap - we, also, use the single-property website.

June 14, 2012 02:49 PM
Rainmaker
261,430
Wayne B. Pruner
Tigard Oregon Homes for Sale, Realtor, GRI
Oregon First

This is great information. I'm thinking that #2 should be in the #1 spot. :>)

October 20, 2012 08:16 PM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Wayne - no question that 2 is important... these aren't in any particular order.

October 21, 2012 06:32 AM
Rainmaker
1,034,130
Joan Whitebook
Consumer Focused Real Estate Services
BHG The Masiello Group

This is an excellent post.. I was looking for this post and here it is!  I want to share these points with a couple of selelrs.

December 28, 2012 06:34 PM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Joan - I'm glad you found it.

January 03, 2013 11:33 AM
Rainmaker
583,474
David Popoff
Realtor & Property Manager, Fairfield County, Ct.
DMK Real Estate & Property Mgmt

Alan, this is a great reminder, thanks .... something to share in the office.

February 25, 2013 06:20 AM
Rainmaker
1,322,713
Charles Stallions
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
Charles Stallions Real Estate Services

A really big help and such good information thanks as always Alan

February 25, 2013 06:34 AM
Ambassador
983,676
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

David - you're very welcome.

Charles - and you're welcome, too.

February 25, 2013 07:18 AM
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Alan May

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