Mooers Realty Maine Real Estate Blog
A Dozen Reasons Your Home For Sale In Maine Is Not Selling.
Your home for sale needs a real estate buyer.
Just one buyer they say is all it takes. But why is the property listing lingering on the market? It does not wear ten foot pole marks. You think it is the best house for sale on the planet bar none. You the seller are kinda perplexed at the delay in the real estate sale.
Here are a dozen reasons your home for sale is not headed to a slide the keys, pass the check property closing.
#1 - First, foremost, the price for the home for sale is not in line with others in the local market. There have been recent real estate sale of places pretty darn similiar to your home for less money. There is a healthy supply of homes just like it that are priced lower than your listed price.
#2 - Marketing of the home for sale is missing or barely has a pulse. It is like winking at a girl in the dark. The results are poor when only the neighbor on each side of your home, the one living across the street know your house is for sale.
The marketing has to be way way stronger than just attracting a local real estate buyer too.
Bigger marketing pool, means more fish swimming in it to find your buyer quick and easy. The one buyer who is ready, willing and able to buy today. If they like it, if it fits their housing needs. Your real estate agent has to have fire in their belly passion to push the property, to market it's features to the hilt. Full throttle, hang on we're headed to a real estate closing attitude causes home sales.
#3 - The longer an over priced home for sale hangs around the real estate market, shelf life, or property listing mold begins to develop. Why isn't it selling, there must be something wrong the folks out in the online Internet audience wonder.
Often the only out of whack feature of the property is the too high a price tag it wears.
I have had a home seller says the reason his house did not sell was because it was too low a price with his last two real estate agents. Believing that low real estate prices scare away home buyers. I have never ever seen a lower than the market value price for a home that has to sell fast keep people away. The marketing makes sure they know about this blue light special shoppers. But when the home for sale marketing is missing, the phone does not ring, the email server does not glow red hot from activity.
#4 - The ease of access to show the property. If a renter is in place and he does not want it shown because what if they like it?
He protects himself and makes real estate home showings just as difficult as possible.
"That's not a good time, maybe next week you could see it" hoping the buyer is gone.
Or moved on to another home for sale that he can get into for the looksey, whadda think.
These road block to a real estate sale renters use the "kids are sick" excuse a lot. Hard to argue with but as the agent, broker, REALTOR, the seller has to know the difficulty scheduling any house showings.
#5 - The home owner or the renter if leased month to month is not so clean. We're not just talking clutter, but smells. If I can smell it and we are not talking fresh baked brownies hot out of the oven cooling on the counter rack. Stinky houses with cat boxes, garbage smells are their own worse enemy.
Bad odors make people's eyes water and they wince, they back away. Cover their mouth to keep from breathing or hurling. Detailing, cleaning, removing debris and the ship shape, tidy up is key. To the successful marketing of a home for sale.
#6 - Deferred maintenance can stall a home for sale process. If the house has curling asphalt roof shingles, missing chimney bricks, broken glass, peeling exterior paint and needs new flooring, a furnace. Well now, the average first time home buyer is out of the picture to consider buying the house for sale. That segment of the housing audience is out of consideration as a home purchaser. Because this buyer does not have the extra cash stashed to bring the house up to the bank mortgage lending standards for the clear to close memo to circulate. The seller who says "as is" needs a cash buyer. Or a conventional bank buyer who is willing to remove the kinks himself. To pay for the repairs keeping the place from underwriting for the financial piece of this house sale.
#7 - Too many just like it homes for sale. But better pricing overcomes the sluggish market when there are lots of musical housing chairs empty and ready to slide into quickly. See how it always comes back to #1, proper, realistic pricing inline with the current real estate market? Over priced, too high valued homes don't sell quickly or at all.
#8 - Home for sale does go under contract quickly. Then is back on the market, then under contract and again shortly thereafter back for sale. The buyer studying the real estate market thinks what is wrong with the home?
When the house buyers for it were not pre-qualifed for a purchase and along the way he or she is denied the home loan. The place should never go under contract until the banking piece of the property purchase gets a green light of pre-approval. Before putting ink to the purchase and sales agreement and removing it from the current listing inventory of homes for sale.
#9 - The buyer for your home is pre-approved, the house is under contract and everyone thinks they can see a real estate closing up ahead. The excited home buyer goes out and buys lots of new furniture for the living room. A great deal is gotten for that huge leather sectional that just fits oh oh so well in the new home they have not bouught yet.
The new master bedroom set and more furniture, a new riding lawnmower, kitchen appliances to match the decor all bought on revolving credit with the plastic swipe ching ching.
Before the closing, the bank looks over the home buyer's application to see if any final changes in the debt ratios of their spending.
Yup. The buyer for your home was qualified but not anymore because debt rations on the added monthly installment debt just went too high through the roof for the program. "Rejected" is stamped sideways on your buyer's application because not one warned them to whoa Nellie on the personal spending prior to the real estate closing.
Don't change jobs, don't get divorced, don't spend spend money on credit you don't have today like a drunken sailor home buyers. Need more tips Maine home buyers? Reach out, like us, share with us at Facebook Maine Properties Listings
#10 - Personal attachement to the house. The seller thinks he or she wants to sell, should move into something smaller. But are they ready, can they really do it? Sellers, not just buyer's remorse happens.
You home won't sell if you really can not let go of it or if what you want to replace it with is not possible to find or afford. If part of you Mister Seller does not want to sell, that fear or desire is going to wreck your house sale and make you very difficult to negotiate any of the details of that transfer to a new home buyer.
#11 - You the seller insist at being present during home showings and you take over, dominate, follow the buyers from room to room. You don't stop talking, pushing, thinking you are helping show the fine points in the home construction and all these updates.
But your real estate agent, broker is following behind and not leading the charge.
Trust your real estate agent or broker to do the best job because this is what they do for a living. They have the experience, the practice makes perfect training under their belt. Let them need, you get scarce so they can do their job.
#12 - Your home was listed for sale by the wrong real estate agent or broker. Nice guy or gal but just not the best professional for the job. The assistance with proper property pricing means a quality agent would not list a house for way more than it is worth.They would politely say I can not help you and wish you luck. They told you what you needed to hear, the truth on the pricing.
The right real estate agency does the marketing needed to get the word out about your home for sale.
With long reaching advertising, a frequency in the promotion of both the property and the local community. Your out of town buyers need to know lots more about the area they are thinking of investing in before moving on to the all important step of buying a property listing. Displayed handsomely from the local inventory of homes for sale, whatever type of real estate they are after today.
#13 - Why not make it a baker's dozen right? One more. The home buyer wants to open up a hair salon in the cellar, use the property for something business like. Not just a home sweet home single family residential use in their mind. The zoning is not going to allow or the varience to make it happen is just going to delay the sale that ends up not happening. Time is money, check the zoning permitted uses way way before dragging home buyers through the front, side, back doors.
Here to help when you are ready to buy or sell! Read more, the full article on what keeps your Maine homes from selling.