Tight inventory might be the most common theme in housing markets across the country, but so too is the fickleness of buyers. No matter how eager, investing in a home is no time for impulse. With all of the free research tools now at the buyer’s disposal, they are less likely than ever to fall for smoke and mirrors.
Say you’ve had a home on the market for a while that just won’t sell. Each day it sits on the market, you can almost hear the skeptical whisper of perspective buyers: “If it’s been on the market this long, there must be something wrong with it.”
Chances are you are running into one of these issues, as compiled by Melinda Fulmer of MSN Real Estate:
If the home was purchased before the housing market was flipped on its ear, sellers must lose the notion they will get every last penny back. That’s a tough pill to swallow. Fulmer writes, “Why are some homes priced so far above the pack? While many nostalgic sellers have unrealistic ideas about what their home can fetch, others simply can’t afford to take less because they are underwater on their loan.”
Decor that bores
Most sellers think, “Why redecorate? I’m selling my home.” In reality, they should be thinking, “I’m redecorating my home because I’m selling.” Don’t force buyers to imagine a home’s potential — show them what it can be on move-in day.
The floor plan — or lack thereof
Ideally, every home is designed to address the needs and demands of its owners. Of course, those ideals change year after year. Fulmer writes, “In some cases, it’s a matter of functional obsolescence, when a dated design no longer serves today’s population, such as older homes where you have to walk through one bedroom to get to a second bedroom.”
Pictures, pictures, pictures
Almost every buyer today is starting their home search from the same place — the Internet. And if they’re not browsing online, they are browsing listings on their smartphone. On these visual platforms, great photos are the best bet for peeking a buyer’s interest.