When trying to sell your home, a house that sits on the market for too long will only end up working against you. In our latest post, we will help you learn how to sell quickly, avoiding a dreaded stagnant listing.
If your house is listed for more than a few weeks in a market like this, the likelihood of getting the price you want decreases drastically. It will begin to fall in the rankings and viewings on sites like Zillow or other house buying sites, and your exposure to new buyers will decrease gradually. After it has been sitting for more than a couple weeks, people will start to assume that your house has some big problems with it if nobody has wanted it yet. If you look at a listing and it has been sitting for two months, when the average home is off the market within a week at this point, something must be very wrong.
If you listed your house for too much money, then reducing your asking price starts to put a lot of the negotiating power back into the hands of the buyer. You won’t have the prized property that everyone wants anymore, you have proven that nobody has been willing to give you your asking price, so now you will have to sift through some lowball offers of people looking to take advantage of the situation.
If you’re having trouble selling your house quickly, check out some of our tips below!
Why It’s Not Selling
You’re Asking Too Much
This is where you need to be really careful. Are you asking too much money for your house from the get-go? You need to make sure to price your house fairly, otherwise you are setting yourself up for failure in the future. By the time you finally adjust to the fair price for the house, it won’t be the fresh and hot new house on the block. It’s old and boring after being on the market for even a few weeks. Be careful to list the house for a fair price right from the start.
Bad Photos or Description
This is really where a good real estate agent is going to come in handy. If they take bad pictures or they don’t understand what grabs people’s attention, they are not worth their commission. A good agent will draw people in with the highlights and perks of the house, and will make sure to use their expert advertising tools to get you the most attention and the best price. They will probably be well connected to professional photographers or even videographers. Drone walkthroughs are very hot right now because it gives people a hi-def virtual walkthrough of the entire property.
Make It Feel Bright And Homey
Make it so the people can begin to picture themselves living in the house with their family. Create a bright and lively environment so they feel good about you, the property, and the decision to actually buy the house. People feel better and more comfortable in well-lit and open areas, so as much as possible, create that environment for them.
Major Repairs Required
Many lenders won’t grant loans for people to buy properties in need of major repairs. If your property is run-down or needs a good amount of cosmetic work, a direct sale might be a more realistic way for you to go. Many people will list their house even if it is in rough shape because they still think they will get more than a straight offer from an investor. However, you could run the risk of backing yourself into a corner and they know that your house can’t sell without them. Sometimes it’s best to simply agree on a number that makes you both happy and get moving on the process. Sometimes waiting for an extra couple thousand dollars can end up costing you even more money.
What A Stagnant Listing Is Costing You
The longer your listing sits idly, the more the house ends up costing you. You will be sinking money into the house for the continued expenses such as utility bills, homeowners insurance, and property taxes. You will also have to consider the time and money you put into the house getting it ready for the MLS, sometimes all for naught.
What You Can Do About It
Avoid The MLS Altogether
Many people in Bakersfield and across the country are opting to sell their homes to buyers directly. The process will free them from commissions, repair costs, and not knowing when the house will sell. At Buyers of Bakersfield, we are a team of direct buyers who can make an offer on your house almost immediately. There is never any obligation. If you have tried to sell in the past without any luck, or if you simply want to sell without any cost or waiting, a direct sale is an option you should seriously consider.
If you decide to relist the property, you may decide to do things differently the second (or third) time around. If you are going to do it, do it right. Make the investment in a professional photographer or videographer. Pay the costs for the featured and upgraded online listing options. Do whatever you can to quickly get your house in front of as many people as possible.
You will probably want to make sure to find an agent that has a lot of good testimonials. Ask your friends and family who they have used and who they recommend. Chances are you know someone who has either bought or sold a house, and they probably used an agent. Ask around and find who the good agents are in your area.
Set The Price Right From Day One
Nothing can destroy a great listing faster than an unrealistic price. People will immediately assume the house is out of their league or that you don’t know what you are doing. Either way, your listing won’t be taken seriously. By pricing it right from the start, you will have a better chance of attracting prospective buyers and selling the house in as little time as possible.
Do you have a house you want to sell in the Bakersfield area? Whether or not you have tried to list the home in the past, we can help you avoid the waiting, hassles, and costs of a traditional MLS listing. Find out what a direct sale can mean for you! We always make fair and honest offers for Bakersfield houses!