Zig Ziggler the business guru often spoke and wrote about selling. He said it was about transferring feelings. When you are struggling to sell a home, you are as well to consider how much your own feelings are restricting your objective choices.
Selling your home isn’t always as easy as it sounds. Read this guide to learn how to get rid of a house that won’t sell and get the money you deserve.
How to Get Rid of a House That Won’t Sell
If your home is not selling then you have to check whether you are expecting too much. It might be about money but that’s not the only thing to consider. Take a hard look at the options.
1. Find the Right Price
Finding the right price is not easy. Find out what other properties have sold for in your area. Make sure you are comparing like with like.
If you cannot find a comparable home than make some adjustments to take account of the number of rooms, size of the plot and other features. A reputable agent should be able to advise you about what sale price you could expect.
Be careful not to be seduced by estate agents who hope to seduce you by suggesting higher than realistic sale prices. Some agents will do this to win your business and then seek a price reduction later when the house does not sell. Compare the price suggestions of several agents before committing to an agent.
Sometimes the right thing to do is to reduce the selling price. You may have to accept that your house is not worth as much as you hoped.
2. Check the Marketing
Take a hard look at the marketing effort that has gone into your house sale. Be critical about the whole package. Try to view it as a prospective buyer would.
Ask friends and family to investigate marketing. Can they find internet listings? Does the house seem attractive and do descriptions appeal to potential buyers?
3. Don’t Sell, Yet
When you come to the market is very important for a quick and rewarding sale. If you have any choice about when to sell, try to avoid times that will be difficult.
Avoid times when vacations will distract people from buying. Avoid trying to sell at a time when there is a national or local period of uncertainty.
Typical problem times are election periods or when world events are unsettling political or economic stability. Local employment problems or home building activity can also create local housing market disruption.
4. Make Improvements
It’s always important to get feedback from prospective buyers, especially if they did not buy the house. They can give you insights into the problems with the house as they see it. After all, it’s the prospective buyer’s view that matters.
What would have made the house more attractive to the buyers? Is there something in particular that turned them off? These are not necessarily problems you cannot overcome.
If you have got some funds you might find it more cost-effective to invest a little in improving the property to make a sale. If this is less than a potential price reduction it will be a good investment.
Be careful not to be sucked into making major investments that are unlikely to get a return but there are many small changes you could make if you have feedback indicating that they would make a difference.
For example, you might have feedback that the rooms appear small and dark. A quick re-decoration with light colors can create a clean, light and surprisingly room expanding effect.
5. Accent the Positive
Are the benefits of your home being accented effectively? If you are worried that your house is not selling you are probably more focused on your home’s flaws. There is another way to think about this.
If your home is apparently suffering from a major negative, try to present the positive side of it. If your home is near a rail line and so is affected by noise, make sure you address this head-on. Acknowledge the problem but make big noises about the double glazing you have fitted to counteract the noise.
6. Try Being a Landlord
If you can’t sell your home at the moment, you could put off the need to sell by becoming a landlord. A tenant could pay rent and help mitigate the cost of not selling. It’s even possible that today’s tenant could be tomorrow’s buyer.
A short-term tenancy need not stop you from selling but it could sweeten the pill of a delayed sale. If you have to move out and can afford to do so without selling your home this temporary solution can help back the log jam. The rent you earn could also pay for you to rent a home in the place you want to move to.
Being a landlord is not a simple matter. If you have no experience of being a landlord, you may find it easier to rent through an agent. They can deal with management issues and advise on insurance, regulatory obligations and help with the legalities of leases.
7. Holiday Let
An alternative to being a landlord is to rent your home as a holiday let. This would be especially applicable if your home is in a desirable area. It doesn’t have to be in a resort as many city locations are suitable for visitors vacationing in a city.
8. Sell to We Buy Any House
You could sell to a buyer who offers, “we buy any house” solutions. They buy a house in any condition and rapidly. It could be just what you are looking for.
Finding a buyer with cash and the ability to complete a sale with no chain may be the beak you need. It allows you to progress with a purchase and to move on from your old house.
9. Change Agents
Are your agents doing a good enough job? Check their work and ask for details of any marketing activity they have done. If they are not doing a good job check the terms of any agreement you have with them and consider changing agents.
Is photography professional and showing off the house to the best effect. Is marketing reaching relevant buyers? For example, if your home is suitable for first-time buyers, is the agent appropriate for that niche.
10. Short Sale
A short sale is when your selling price is not sufficient to cover the value of a mortgage you have on the house. Discuss any short sale with your lender. This might be an option you don’t want to take but sometimes there is no alternative.
Stop wondering how to get rid of a house that won’t sell. If something is inhibiting people from buying, try changing something. You may interest a new set of buyers.
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