Why hasn't my Hilton Head or Bluffton, SC home SOLD?
Your Realtor put it on the market, you've gotten loads of showings but NO OFFER? Don't just take it from me - the following infographic puts it in perspective!
Data provided by ActiveRain.com. ActiveRain is an online community of real estate professionals who exchange best practices, write real estate blogs, and get free education from the industry and their peers.
Obviously the top of the list is THE LISTING IS OVERPRICED
As the inventory in Hilton Head and Bluffton continues to contract, there's bound to be an inclination to increase a list price. Pricing is based on SOLD PROPERTIES, not on the competition. Yes, we need to know how to position a home properly, but when there have been many showings over a long period of time, the primary reason is that the property is OVERPRICED.
Also an annoyance to both buyer and Realtor, a property MUST BE ACCESSIBLE. When a property is listed, though it may remain a home, it also becomes a PRODUCT. Just like in the supermarket, manufacturers jockey for position on the shelf so that a product is noticed easily and then purchased. The same goes for a home, this PRODUCT, must be available and easily seen so that it too may be PURCHASED.
Almost in a tie on the chart above, a property cannot be cluttered. Returning to the packaging analogy, think crisp, clean, bright, shiny, easily identified as to what it is, no distracting caveats, or explanations; a property must look as though it is a model. A potential buyer must be able to walk into the home and picture themselves there; not see paintings, or costume jewelry hanging in the closet (though neat it's still a distraction), or kitchen counters with appliances, etc.
UNPLEASANT ODORS; sometimes we are so accustomed to our own natural 'fragrances' that we're simply unaware. This is not only applicable to pets - closets contain personal items and those odors can linger. Don't be offended; just have a non-relative, or friend (who is honest), come by (or home stager) and ask them point blank.
Negotiation is a necessary art not a science. In the beginning of the listing, a seller may have said that they are 'pricing a bit higher than recommended' but a buyer can 'always make an offer.' First, the top reason for not having received an offer we've already discussed, next, if a seller is unwilling to negotiate within reason - using market numbers and SOLD information - the home still won't sell.
Last, a seller must be willing to make repairs. We all know that there are issues with door knobs that may be a bit loose, the one toilet that rocks, the water that comes in under the door when it rains since the weather-stripping needs to be replaced, the closet door that must be shut just so or it doesn't latch, the hand-held shower that leaks 'just a little'. They usually aren't big things but even if they are, ideally get them fixed before putting your home on the market, but after an inspection, get them fixed. Are repairs that are not that costly really worth not getting the sale?
If you need more information about ways to prepare your home and need various contractors, be sure to CONTACT ME.