For the right price, any property will sell. And a property will sell at the highest possible price with the right marketing strategy. Unfortunately, there are houses that fail to sell, and here are the most common reasons why they don’t.
1: Undedicated or Part-Time Agent
The average agent only sells 3 homes a year. That simply isn’t enough business to call it “a business.” Other signs of inexperience or inability to dedicate time to real estate include inaccurate MLS data, slow speed to market, and lack of response to other agents and buyers.
For instance, only 11% of phone calls to agents are answered, do you think that is because 80% of them are only in the business part-time? It’s likely!
2: Cheap, Unattractive Photos
Less than 40% of homes are marketed with professional photos. Even luxury homes miss the mark. Poor photo quality is the number one complaint by buyers and the primary reason they don’t schedule a showing!
For our VIP Package, we offer Matterport Virtual Walkthrough and 2D Floor Plan in addition to High-Fidelity Photos.
| Other Photos | Our Photos |
|---|---|
Dark. Narrow shot. |
Wider shot with more consistent lighting. |
A quarter of the photo is taken up by a bare wall. The living room is barely visible and dark. |
A slight change in angle shows the Sunroom opens up to the Living room. Consistent brightness. |
Where is the cooktop? Is that an island? The angle makes it hard to discern the details. |
Taken at a slightly downward angle shows the island with a cooktop and a wider view of the kitchen. |
Furniture sales? |
The same living room using a wider shot shows off the nice layout. Better lighting. |
Good photo of the dining room, living room, and patio. |
We took a few steps back and shows how the kitchen opens up to the dining room, living room, and the deck. |
3: Marketing Presentation
Marketing and the forces of supply and demand can generate showings for a property. After the appointment has been set it’s up to the presentation of the property to encourage the sale. Ranging from full-blown disaster homes with squatters, to sellers who refuse to be reasonable with showing times. Presentation is critical in selling any asset.
- Always keep your home clean and presentable.
- Always accept showing appointments as requested.
4: Pricing
Some home sellers prefer to price their homes above market value in order to ensure they don’t sell too low. However, the issue with this is turning off a large portion of the “in the market” buyers who are currently making offers. Psychologically buyers typically only make offers when they feel another buyer might beat them to the home of their dreams. Since list prices only slide down with time, many sellers who “price high” to come down later, wind up with less net.
5: Negotiation Styles
After selling over a hundred homes we’ve seen every negotiation style you can imagine, from the “authoritarian-intimidator” to the “clueless-first timer” each negotiation style must be carefully considered. Not only are we negotiating for our clients, but we’re also using our skills in communication to work through the other agent and their client. There are often 6 people involved. This is really what we get paid for, doing the work that keeps things together.
Bottom Line
If you tried to sell your house and it didn’t, maybe one of these reasons is holding you back. If you’re unsure about what to do next, give us a call and we will be more than happy to stop by to help you evaluate your situation.
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Pinyo is a full-service Realtor with Berkshire Hathaway HomeServices PenFed Realty and an insurance agent with McEvoy Insurance & Financial Services. He specializes in representing clients in the purchase and sale of residential and investment properties throughout Virginia and Maryland areas around DC.