Updated: Nov 19, 2018
1. Your House is Overpriced
Buyers are well informed nowadays. Gone are the days when buyers were unable to compare prices in specific areas and pay too much for a property due to their ignorance.
Today, buyers make informed decisions while browsing online. Ever so often, buyers have already made a decision to buy a house, even before viewing it in person!
As a complimentary service to my clients, I compile a comparative market analysis (CMA), before sellers put their property on the market. Together, with the CMA in hand, we discuss the price homes recently sold for in the area and determine a good estimation of what a reasonable selling price for their property will be. Still being too emotionally attached to your home when you decide to sell it, may cause you to insist on a unreasonable selling price which will leave your house on the shelf, while others in the area fly off it.
2. You Recently Bought The House
Homes repurchased or refinanced within the first seven years of owning the property aren’t likely to sell in the current market. Buyers are more likely to buy a home that has been occupied for more than seven years. Owners of homes bought less than seven years ago, are often not negotiable as they are unable to accept the discounted price a buyer may offer, due to bond obligations.
3. The Market is a Buyer’s Market
A Buyer's market is a market that is flooded with homes that are for sale and buyers have
the luxury of choosing which house they want.
In a buyer's market, a seller can expect their home to stay on the market for longer due to the tough opponents it has in the market. In a buyer's market, owners can expect to receive less and lower offers, because buyer's aren't desperate to obtain a specific property. Home owners need to be patient and price it right from the start! This greatly improves the likelihood of your home being sold.
4. The House is Too Personalized
Sure, we all personalize our homes while we live in them, that is what makes house a home, right! However, when you decide to sell, you need to depersonalize it from the get go. Too many family photos on the walls, or a large number of hunting trophies in your bar area, or and all the beer glasses from across the globe are aspects that prevent potential buyers to envision themselves living in the home.
Please note: once it is put on the market, it is no longer YOUR home, it is A home buyer's want to imagine themselves living in...huge difference! Remove and store your personal items temporarily. Buyer's rarely have the same idea you had for your home and presenting the property as neutrally as possible is your best bet. Keeping the home clutter free and tidy while it is on the market, will also assist buyers to make a favourable decision on your property.
5. The Seller is Rigid with Showing Times
When you decided to put your home on the market, it may be a good idea to set your high desire for privacy aside. For the period buyers are invited to buy the property , it is best to be as flexible as possible although it may become challenging at times. Sellers who are rigid with the times when potential buyers may view their property, stand a chance of losing potential buyers due to the inflexibility. Unfortunately buyers are often impulsive and contact realtors anytime of day/night to arrange viewings. Being uncompromising as a seller, only jeopardizes the opportunity to sell your property. Your realtor need to act fast and depends on your flexibility to get the job done. Please note, an inflexible seller = a house that does not sell fast = a lower the selling price in the end. If you decide to sell your house, you are advised to get it out of obscurity. Let buyers view it! Then buyers will buy it!
6. The House is Located in a Less Desirable Area
Living next to the bottle store or next to a busy high way is not something you can alter. It is what it is. However, in the world of real estate it is always about location.
If your house is in a less desirable area it can still sell if it is priced correctly. Houses like those are sold every day! However, make sure you are open about the pro's and con's of living in that area. Being open about both the good and the bad of the location, will get you much further with a buyer, than trying to hide the challenges of the area.
8. The House is in a Poor Physical Condition
If your home is in serious need of a coat of paint or a proper yard cleaning, it may be the reason why your home does not sell. Sure,there are buyers looking to buy a fixer-upper, but most buyers want to purchase a ready-to-move-in property. When house hunting, most potential buyers prefer to examine the structure of the property. If they notice any major damage or see damp on the walls or sagging ceilings with brown water marks on it, they start calculating how much lower they must offer you ( if they will make an offer at all), in order to get those things fixed at your cost and not at theirs. My advice to you is, to constantly keep your hand on your property. Fix the chips on the walls or the small leak from the roof, as it appears. Thereby the repair costs remain minimal and affordable and your house stays in tip top condition at all times.
7. Listing with Poor Estate Agents
Being listed with every estate agent in the area may JUST be the reason why your home does not sell. Estate agents are everywhere to be found, but they are certainly not all equally competent. Please be aware that listing with too many or poor estate agents, could result in huge delays in the sale of your house and actually lower your final selling price.
Be sure to list with a reputable company, such as Seeff. Seeff has been in the industry for many years and are known for their well trained estate agents. Seeff has been a front runner the 1960's and is still one of the companies holding the largest market share in South Africa. Be aware of untrustworthy and incompetent agents who are more likely to lose potential buyers with their pushy or scaly tactics. Remember, an estate agent's work does not end once the offer was signed. You want to be confident that your agent is capable of handling the work load required after the contract was signed! A contract can easily fall through or lengthen the amount of time it takes to sell a house if the agent is incapable of handling the process that follows after signatures were put on paper. A chain is only as strong as its weakest link. One link can cause the entire chain to collapse, leaving you as the seller, back at square one.
9. Bad Odours are Off-Putting
Homes that smell like strong curry or onions or pets are really off-putting to potential buyers.
If your house is on the market, be sure to take extra care with objects that can cause odours and eradicate any strong ones in and around the house soonest.
Consider having your couches and carpets freshened up prior to putting the dwelling on the market and scrub and scent the bathrooms regularly to ensure no bad stenches hang around to disgust the buyers.
On the other hand, the aroma of fresh peculating coffee or the smell of bread baking in the oven during the viewing, is very homey, soothing and pleasing and may just propel your property right to the top of the potential buyer's list. :)
10. The House is Not Temperature Controlled
Be very aware of the season in which you are selling your home. There is no reason why a property will not sell on the hottest summer day or the coldest winter morning. What matters is your awareness of the temperature of the day on which a potential buyer is viewing your property.
Turn up the air conditioner if the day is a scorcher or turn on the heat if the temperature is at a record low, before the viewing. Ensure the interested buyer finds your home temperature pleasing or refreshing, whatever the need of the day may be.
When a buyer feels cozy or refreshed when entering your property, they will be more likely to spend more time in it and even make an offer. On the other hand, if they feel uncomfortable with the temperature of the home, they tend to rush the viewing and move on to next property on sale.
May the tips above assist you to get your home sold, FAST!
Contact Alta, The Property Match Maker, from SEEFF, if you want to buy or sell property in
Centurion, South Africa. She has a wealth of knowledge and delivers service excellence with flair! Mobile: 071 758 0996