Home hasn’t sold? The Bellevue market is moving so why hasn’t your home sold?
If you’re reading this it’s probably because you had your home listed for sale and it did not sell. So, you’re probably asking yourself, what’s my next step?
Pricing your home right to sell:
You want to sell your home the first time around…if you don’t follow this step then don’t be disappointed if your home doesn’t sell the first time? We will outline below the reasons that could be hindering the sale of your property.
Pricing your home right to sell:
There are many things that could be hampering your ability to sell your home. One main reason could be that your home is not priced accurately. Pricing your home is a strategy that unfortunately, many fall short on. One clear sign is that you haven’t had much, if any, traffic in the first week or two that your home has been listed. If you’ve had small amounts of traffic, what feedback are you receiving on your home? You may not be aware of the feedback as many agents don’t follow up with the agents who have shown your home. Did you know there’s a software program that will email you the feedback the same time your agent receives the feedback?
Don’t think, “I’ll just put my home on the market at this higher price to see what happens and then I’ll reduce the price if need be.” You need to price your home with the current market NOW. The higher the price the less likely you’ll be to have showings on your home. Even with a price down, the additional time on market that you have on your home due to overpricing at first generally means you’ll get even less than the current market value as a buyer will wait for the price downs and will think that there’s something wrong with your home due to the time on market.
Remember, one of the main reasons your home will not sell the first time is because of price. Our sellers have understood this and that’s why our average days on market is only 29 days before they go under contract. The home pictured above was a home we had for sale in Bellevue in July – it was only on the market for 6 days before it went under contract. Would you like to know the current value of your home in Bellevue?
Condition of your home to sell:
Reason #2 that your home will not sell is that your home is not showing well. Buyers don’t want to walk in the front door and be overwhelmed with STUFF…whether you collect tea-cups, love antiques, have a plane collection, etc. Buyers shouldn’t know what your hobbies are and therefore you should remove those items before putting your home on the market. You also don’t want to have a wall of photos showcasing Bobby’s entire 30 years of life…Now, we don’t believe that every single picture needs to be removed as it should show that a family could or does live there. When a closet is opened your mouth shouldn’t drop to the floor when all the contents are beginning to fall out on top of you. The more items you have stuffed away, the more a buyer is going to think that there are storage issues with the home. Same goes for shelves, counters, etc. The Kitchen doesn’t need to highlight all of the items you might use over a span of a month from the waffle maker to the toaster, the juicer, etc. It’s OK to have 2 small units on the counter but that’s a max. Fido’s dog bed is pretty important to him but when there are showings or open houses you’ll want to remove the smelly dog bed and please, don’t leave your dirty laundry out. Furniture shouldn’t be covering up the fireplace or the large living room windows (all focal points in the room). If there was a honey-do list (we all have them) it’s best to get those items buttoned up prior to putting your home on the market. If it was obvious to you it’s going to be obvious to a buyer, an inspector and the Realtor representing the buyer.
Just remember, a home should be clean and inviting! The buyer needs to see themselves being able to move in and live there. Your home may work for you as it is but if you really want to sell then please remember these basic tips.
Marketing your home:
90% of buyers are looking online first. What does that mean to you? If your home doesn’t capture their eye in the first 10 seconds they will move on to the next home. If you would like to sell your home in Bellevue then I would make it a point to discuss the marketing plan for your home with your Realtor (hopefully that’s us). We’re definitely not living in the “throw a sign in the yard and hope and pray it sells” market any longer. You need to market your home to potential buyers…that’s why we believe professional photography is a very important step you cannot skip. Buyers don’t want to see a picture showing only a very small part of the home but mostly showing a garage door. If you have a fabulous kitchen you want to feature it, not get a shadowed photo of the sink and part of a counter-top. Do you have a master bath that’s the highlight of your home? Then don’t show the toilet seat with the lid up and a picture of the towel bar.
What does your curb appeal say to your home? Does the curb appeal say that if this home looks this bad on the outside it must look the same on the inside? Maybe worse? This not only plays into the online marketing but it also has a huge impact on the drive-by buyers who are checking out your home in person. If you want to sell your home in Bellevue we believe that a little extra effort with a splash of color or layer of bark can really spruce up the home’s curb appeal.
What if your home doesn’t have all the upgrades
Is your home not updated? You don’t have to have a home with slab granite, hardwoods throughout, completely updated entertainers kitchen, etc. to get it sold…BUT It does need to be clean, de-cluttered, have curb appeal and feel welcoming and that a buyer could move right in.
Marketing your home to sell in Bellevue
Just remember, to get your home sold we need to market it! You don’t have to be an expert at photography, be an interior designer or decorator, professional painter, landscaper or Realtor. That’s why we’re here. We have a team that we can use if those things need to be done. At The Payson Group, we believe that marketing is so important that we pay for the professional photographer and also bring in a stager for an initial consultation – all paid for out of our pocket. From there we can help add the splash of color or discuss what steps can be taken to make your home more welcoming and ready for a buyer to make an offer.
If you’re getting ready to sell your home in Bellevue WA, let us help you get it sold the first time around.
WOULD YOU LIKE TO GET YOUR HOME SOLD:
So if you’ve been disappointed because your home did not sell the first time…don’t be. We’d love to have the opportunity to talk through a marketing plan to best suit your needs. Contact The Payson Group today.
You may be asking yourself…well, why did my home not sell but a neighbor’s down the road did. There are a few things to consider when comparing your home to another in your neighborhood. What is the absorption rate for my neighborhood. Meaning, how many buyers were there in my price range that bought versus how many homes were for sale in the price range. Below is an example of our one of a kind report that is custom to M Realty. What you’ll find from looking at the Market Statistics is that you will be able to compare your home to those that sold and determine the price range your home should be priced at.
Why is this important? It’s imperative you know this BEFORE putting your home on the market because this will help you determine the correct price range for your home.