As we approach the month of August, many sellers become worried that they’ve missed the prime spring and summer selling season. If your home has been on the market for approximately 45 days or more, be sure to take a critical look at the way your home is being marketed and consider the following:
1. Price. It’s no secret that price matters when attracting potential buyers, but unfortunately it’s still not uncommon for sellers to overprice their homes. This is especially true for homeowners who purchased at the height of the market in 2007 or 2008, and may be a bit underwater on their property. Be sure to ask your real estate agent for a comparative market analysis, and carefully consider similar properties nearby.
2. Pictures. The vast majority of home buyers start their search online — and we bet that we don’t have to tell you that, as you browse Everyhome.com! A prospective buyer’s first impression of your home is going to likely be through photos viewed online, so they must be clear, flattering, and of good quality. If your home is well-priced and has been on the market for a few weeks with less than three showings, carefully consider the way that the photos are representing your home. Don’t be afraid to ask your agent to re-take the listing photos if you’re concerned that they don’t nicely represent your home, and be sure to clean and fully de-clutter before picture day.
3. Place. Is your home located in a closer suburb of Philadelphia (within 15-20 miles) and in a good school district? Fairly priced homes in these neighborhoods are selling very quickly. This is especially true because these neighborhoods are in a highly competitive seller’s market where there is low inventory of homes for sale and fierce competition among buyers. If your home is located in one of these areas, be especially sure to consider the price and presentation, as these homes should sell quickly. Alternatively, if your home is located in a further suburb, it may simply take longer to sell because there is a smaller pool of buyers.
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4. Presentation. Curb appeal! Cleanliness! Clutter-free! If your home is receiving a good number of showings (let’s say at least two or three per week), then the pictures of your home online are likely attractive enough to prospective buyers. However, if you’ve had more than ten showings on your home without any offers, it’s a good idea to take a careful look at how prospective buyers are seeing your place. Does the home appear welcoming, warm, and well-maintained from outside? Are there any unusual odors (from pets or smoking)? Is there too much “stuff” in your home that buyers can hardly get a good feel for it? Be sure to ask your agent for some honest advice in how to best present your home.