6 Reasons Listings Linger

In a seller's market, listings that linger and languish on the market are everyones' worst nightmare.  It's painful to watch a listing sit for 10, 20, 30 days or more when most properties are flying off of the market, and it can encourage low offers and less favorable offer terms.  It's often said that the first 7-14 days are the most important days on the market, so sellers need to make a good first impression and avoid the pitfalls that make up the most common reasons that homes end up stagnant on a fast moving market.  Read on to learn what not to do.  

1. Overprice Your Property

To be clear, an overpriced home is the #1 reason that a home won't sell.  Even a home in poor condition will sell if the price is right.  Everyone wants top dollar, but if you put your home on the market well above its reasonable market value, your home may languish on the market with few showings, zero offers, and depreciating interest.  When offers do roll in, they'll probably be lower than anticipated.  Price your home competitively to attract more buyer traffic and increase the potential for a bidding frenzy.

2. Make it Difficult to Show

Keeping a home show ready and vacating regularly can get a little overwhelming, but it is crucial to have open availability when you're home is on the market. You could end up missing out on an amazing offer if that buyer can't find time to see the property.  The longer it sits on the market, the less value buyers will see in it.  There's nothing wrong with requesting some lead-time prior to appointments, but make sure your home is available to be shown as often as possible.

3. Forget to Create a Neutral Space

Buyers walk into a house to envision their lives in that home, and some will find that difficult if the space is filled with family photos and personal items or has an eclectic and personal style.  Instead of seeing their future in the home, buyers might feel that they're invading someone's personal space.  Before listing, take some time to cut down on the amount of items in each room, store away family photos and personalized art, and give the place a neutral sprucing to create a welcoming environment that appeals to a wide pool of potential buyers.

4. Let Overpowering Scents Tell the Story

Scent is powerful, and unpleasant or overbearing scents can turn some buyers away at the door.  Before a showing, clear out any garbage bins, avoid cooking fish or other strong smelling foods, wash/vacuum pet beds and blankets, and allow for extra circulation through cracked windows or your HVAC system.  If you use air fresheners or home fragrance items, do so sparingly.  Some people are sensitive to scents, and others are allergic to ingredients in air fresheners and home fragrance.  Also, buyers may assume that you're trying to cover up an underlying odor if the home is heavily fragranced. 

5. Refuse to Make Repairs

Selling your home as-is may sound appealing, but being unwilling to make repairs can result in a lost sale and wasted time.  It's wise to be open to repair requests and view them from a business standpoint by weighing the cost and time commitment of each request and negotiating a solution that all parties can accept.  Remember, buying a home can cause anxiety and stress.  In most instances, buyers aren't trying to pull a fast one on sellers.  They're simply nervous and making requests that seem important in the moment.  

6. Take a Combative Stance 

Sure, buyers and sellers have different different priorities, but in the end, everyone wants the same thing; the transfer of title to a property from one party to the other.  During a sale, each party has differing ideas on the terms of the agreement, and that's ok.  Keep a level head when negotiating and try to keep your emotional attachment to the house out of the process.