You put your house on the market . . . and nothing happens. So you wait and wait, but still, don’t have a showing or get any offers, and then panic sets in. That’s a scenario that all sellers fear, but it doesn’t have to happen, especially if you are aware of the common causes. So let’s take a look at the top 5 things that stop your house from selling in Richmond.
1. The Pricing Is Wrong
Real estate pros maintain that pricing your home to sell is the most important piece of effective marketing and that pricing wrong will stop your house from selling in Richmond. “Don’t test the market or ask an inflated figure, because if you do, your home will probably sit there as the Days on Market (DOM) continue to tick. Dated listings – homes that have been on the market too long – don’t generally sell for list price.”
The best practice for pricing to sell is strategic pricing. This includes pricing within the range that will return the most results for people searching online listing sites, avoiding “century pricing,” and pricing in line with the prices of comparable homes in your area. (To find out more about pricing to sell, contact your local agent at (804) 453-0626.)
2. The House Needs More Attention
Another one of the top things that stop your house from selling in Richmond is the simple fact of your house not being the best it can be. According to the experts, you need to take “sounding of the local real estate scene. If 90 percent of the homes in your market are not selling, then your home needs to outshine the top 10 percent.” Your agent can help you assess relevant sales data so that you can know what you are competing against and how to get the edge.
In making your house the best it can be, you will need to take care of things such as curb appeal, kitchen and bathroom upgrades, repainting interior walls, and staging. If, for example, the houses in your neighborhood selling at or near list price have new carpeting, then you will have to replace your carpeting in order to compete. Again, consult your agent to figure out which improvements and upgrades will yield the best return on investment.
3. Listing Photos Don’t Do Their Job
Because house hunting and home shopping have moved largely online, quality listing photos are more important than ever. More is better when it comes to listing photos, but they also have to be professional quality. Here are some startling statistics one market watcher uncovered:
- 87% of home buyers searching for houses online indicated that the photos were the most useful feature on the listing sites.
- Houses with high-quality listing photos sell 32% faster.
- Houses with only one photo spend, on average, 70 days on the market, but houses with 20 photos spend only 32 days on the market.
The upshot, then, is that if you don’t want to do anything to stop your house from selling in Richmond, you may want to consider hiring a professional photographer.
4. There Are Cosmetic Flaws
Even if you’ve done everything you can to make your house look its best, there still may be cosmetic flaws that stop your house from selling in Richmond. This could be anything from garish paint on the walls to the weirdly colored carpet to outlandish bathroom fixtures. Here’s an example from one of the premier real estate sites.
A certain home in Pennsylvania had been listed for some time with no offers, so the owners listed with a new agent. The new agent discovered that the house had a “horrendously colored hunter-green carpet.” So the agent had the owners replace the carpet, and within two weeks they had showings.
5. You Have The Wrong Agent
Perhaps the number-one thing that can stop your house from selling in Richmond is using the wrong agent – one who doesn’t have the necessary experience or the requisite market knowledge. The problem in choosing an agent is that not every agent is right for every property. Each agent has her own area of expertise, and you need one that meets your specific needs. If, for example, your top priority is selling fast, then you need an agent who specializes in high volume and quick turnovers. “There is,” real estate professionals explain, “a world of difference between an agent who sells 12 homes a year and an agent who sells100. On the other hand, if a big profit is your goal, an agent who’s good at the long game – at cultivating deep-pocket buyers and collecting fewer, but better offers – might be a better match.”
Would you like to make sure you don’t stop your house from selling in Richmond by using the wrong agent? If so, you need an agent with the experience and expertise to meet your needs.