Trying to sell a home in Beverly Hills isn’t especially difficult these days. The housing market in Beverly Hills has been kind to sellers, with most homes getting multiple offers, and hot homes selling within a month or two. Whether it’s celebrity real estate or a private estate, there can be challenges. However, not all sellers have been so fortunate. In every market, in all conditions, there are cases where a home is simply hard to sell. (Image Credit: Redfin.com)
Analyzing why your home isn’t selling can guide you to the strategies necessary to start attracting offers.
Why Your Home Isn’t Selling
These are some of the common reasons why your home isn’t selling:
- You don’t have a real estate agent. Real estate agents serve many different functions, all of which can help you sell your home faster (and for more money). They provide you with insights about your local neighborhood, list your home in a variety of different locations, and take action when your home isn’t selling. Despite this, many homeowners still attempt to sell their home on their own. Without the advice, expertise, or resources of a real estate agent, it’s nearly impossible to make a reasonable sale.
- The price is too high. The most intuitive problem is that the price of your home is too high. People who are genuinely interested in your property might put in an offer, regardless of list price, but if the list price is unreasonably high, it may turn away otherwise interested buyers. Beverly Hills and the surrounding areas are hot markets, but that doesn’t mean you can charge whatever you want. Make an offer more in line with the going prices. It’s also important to offer different payment options so that you expand the buyer pool. In today’s market, lots of people are looking for cash home buyers because it gets rid of the hassle associated with traditional methods. One huge advantage cash home buyers have is that they can provide you with a fast and hassle-free closing. Another reason people are looking to sell their homes for cash is because it often eliminates the need for a real estate agent.
- Your home is unusual. There are some people who strive for a house that deviates from the norm in some way, whether it’s an obscure exterior, or an unconventional internal layout. But for most home buyers, this is a turnoff. If your home is unusual in some way, you’ll need to be more patient when seeking a buyer—or else you’ll need to be prepared to lower your price to compensate for these features.
- The staging isn’t right. Did you know that properly staged homes sell 87 percent faster than non-staged homes, and for an average price that’s 17 percent higher? Staging may seem like a small touch that isn’t strictly necessary, but it’s very difficult to sell a home without it. Work with your real estate agent for advice on how to stage your home properly, with the right furniture and lighting.
- The curb appeal turns off buyers. Some people may fall in love with the interior of your home, but if the outside looks shoddy or unkempt, it can be a massive turnoff. Your home should be clean and polished on the outside, with a yard (and/or garden) that’s in beautiful, tidy order. This is your chance to make a strong first impression, so pay extra attention.
- The photos don’t show off your property. Most people these days begin their home search online. They, alone or with their real estate agent, review available properties without visiting them, browsing through photos to make judgments about its quality. The nature and composition of those photos will play a significant role in determining who, if anyone, comes to view your property. At a minimum, you should be hiring a professional photographer and investing in good lighting. Take images from multiple angles, and try to cover as much space as possible.
- There’s a problem with the building or property. Sometimes, a fundamental problem with the property will stand in the way of its sale. This is usually obvious, but isn’t always easy to fix. For example, if there’s major damage to the foundation, or if the porch appears to be in terrible shape, it will discourage buyers from moving forward.
- You aren’t taking advice. Hopefully, you’re working with a real estate agent. If not, you should at least be talking to other experts about your sale. No matter what, it’s unlikely that you’ll be able to sell this house entirely on your own. If you’re ignoring the advice of others (or never seeking it in the first place), you’ll find it much harder to appeal to buyers in the area.
Talk to a Real Estate Agent
If you don’t yet have a real estate agent, it’s time to get one. Talking to your real estate agent is by far the best first step to take if you’re having trouble selling your home; while these pieces of insight do apply to many homes, every home is different, and must be approached as a unique individual case. Together with a sell your home faster to sell your home, you should be able to pinpoint the root cause of the problem and make changes to compensate for it. However, if the sale takes just too long and you need to speed up the process, you can also consider selling to a real estate investor like Your Trusted Home Buyer. This way you may be able to sell in less than a couple of weeks.