did not sell

5 Reasons Why Your Home Did Not Sell

Selling (or buying) a home can be an incredibly stressful time for many people. So imagine the stressors that come along when the home did not sell. Not only creates additional stress, but the anxieties of what next? This home might be one you purchased forty (40) years ago as newlyweds. Or selling for a loved one who passed away. May be a need to relocate, or time to upgrade. Regardless, it is a stressful time.

Bottom line however, is you need to sell the home

The first step is you need to take a few steps back and figure out why the home did not sell. Having a clear picture of what you did, or did not do will help you moving forward. Below, is a list that we found are among the reasons that sellers have trouble, selling.

#1 Does the Property have Curb Appeal?

curb appeal

First things first, curb appeal relates to the exterior appearance of your home. Often, buyers are searching for homes to buy with their eyes first. Basically, it’s your buyer’s first impression of the home. Unfortunate but true, if buyers don’t like what they see from the outside chances are it won’t matter what is on the inside. Truth is, they may not even get that far.

When it comes to buying a home, people will judge the book by the cover. You want to make sure that outside appearance has a warm and inviting look. You want to be able to entice people enough with the outside that has them coming inside for more.

There are a few great places to start when it comes to stepping up your curb appeal. Keep in mind, these don’t need to add massive expenses to your selling either – things like manicured lawns or small landscaping changes can make differences in the overall appearance. Another great option is to paint your front door or garage a new fresh colour. Exterior painting is a cost effective way to give the outside that extra edge.

These small changes could make the difference in selling versus why you home did not sell originally.

#2 How Much Exposure did your Home Receive?

home did not sell

Chances are, this is among one of the main factors that your home did not sell from a non-aesthetic side of things. It is your realtors responsibility to market your property effectively and efficiently to the public. Every Realtor has, or should have a marketing plan specific to your property. Not simply a cookie cutter format – they should be invested in your sale, the same way you are. Internet exposure with high quality photo’s and plenty of information is very important in our technology age especially.

A good real estate agent will make sure your property is exposed to the active real estate agents in your area by presenting your property to many of the area offices. Most active agents have a strong network of other agents, and should be, on the phone pushing the property to the other agent’s buyers. Most buyers use agents – you want to make sure you are tapping into that part of the market as well.

The Realtors role does not stop at the listing. They are responsible for ensuring others know the property is available, and making every effort to have people out to see the property. Never, should this be an area of set it and forget it. After all, you have hired them to do a job for you with one purpose, to sell your home.

#3 Professional, Quality Photographs are a Must!

home did not sell

This is not an area that should be overlooked. As a seller, you are making one of the biggest decisions of your life. And, as we discussed above, there are a variety of stressors associated with a sale. Especially, after a home did not sell. So do yourself a huge favour and don’t cheap out in photography or videography.

Pictures, are often what draw sellers into the home – so never agree to ones that are ‘good enough’. You and your home, deserve the best. These photographs should be high definition, professionally taken, and not from your Realtors cellular phone for example.

To show your home in the best light possible, I cannot stress enough the importance in the photography. These images want to show potential buyers what their future home ‘could’ look like. Imagery should bring a buyer to a place of wanting or needing to see more, not the opposite.

#4 Home Staging and Decluttering

home did not sell

It is very easy when you have lived somewhere for sometime that you have accumulated a number of things. Perhaps you are a creative and painted some funky accent walls that aren’t appealing to everyone. Keeping the general rule of thumb in mind; Less is More. Make sure the counter and tabletops are cleared of everything – with the exception of perhaps a flower or decorative book.

If you are still living in the home, make sure your closets are not jammed full, thin them out where possible. This will give the illusion of a larger space. Consider packing smaller appliances away somewhere – anything left out, limits space. And, most buyers often relate space to their buying decisions.

Will there be enough room for my couch?’ ‘Will the television fit there?’  … and so on.

The decluttering process should also include the garage or shed areas. You want the potential buyer to be able to picture parking their car there or storing their garden tools. The less amount of your stuff around allows the buyer to picture their own stuff far easier. Decluttering can be a tedious step in the selling process, but can be a lucrative one as well. Avoid skipping this step at all costs.

#5 Price, Price, and Price – is Everything

home did not sell

Setting the right price for your property is up to you! But, it is your Realtors duty to help you make an informed decision when pricing your home by providing you with comparisons.

  • Sold Listings– Tells you how long the listing took to sell and at what price
  • Active Listings– Gives an insight to your current competition
  • Expired Listings– Shows you what homes didn’t sell and why

Knowing the pricing structure of homes that both succeeded (sold) and failed (did not sell) can help you determine if you are even in the right playing field. It is one thing to want a specific price, but if you are not even in the ballpark you could be wasting everyone’s time, including your own.

Your price should entice buyers to have a look at your property above the competitions – the difference could even be by only a few thousand, but lower is attractive, period. That small difference, through my experience, could be the make or break it moment. So, avoid being hung up on a specific number when the difference could be much bigger than a few thousand dollars.

Lastly, with an ‘off the list’ but worth mentioning, is this:

Did you Hire the Right Agent to Represent you, and your Home?

Like any industry or profession, there are effective and ineffective people – in this case, agents. Many agents work hard and include strong marketing techniques in their strategy. Strong agents have an excellent network and access to buyers. Many agents work hard to get your home sold. However, many do not.

Here’s the deal, your home did not sell – the first go around. And in my experience, unfortunately, you are not alone. The key however, is working with the right Realtor to create a plan that works for you.

Whether that includes the need to make aesthetic changes, or pricing ones – figure out what didn’t work, and adjust. When changes are done effectively, you may even find it hard to believe how fast it was off the market this go around!

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