Stagnant Listings In San Antonio
The Causes, The Costs, And What To Do About Them.
When trying to sell your home, a house that sits on the market for too long will only end up working against you.
In our latest post, we will help you learn how to sell quickly, avoiding a dreaded stagnant listing.
When a house sits on the MLS of weeks or months at a time, the odds of it selling decrease astronomically.
It will drop down the list of available properties, getting viewed by more and more people.
When it sits stagnantly for a period of time, people will begin to assume there is something wrong with it.
Even if it is great shape, properties that stay on the MLS for a long time often become overlooked.
On the MLS and listing sites such as Zillow, prospective buyers can easily see price changes and how long it has been on the market.
Repeatedly dropping your price can make you appear desperate, making people feel as if they can offer a low price and you will accept.
Below, we offer some insight as to why your house isn’t selling and what you can do about it.
Why It’s Not Selling…
What your realtor doesn’t want you to know.
1. Initial Price Too High
Most traditional realtors want to sell your house for as much as possible so their commission is as big as possible.
However what they don’t tell you is that if a home is priced too high from the beginning, people will pass it up.
The listing will become stale to the point that even if you drop the price to something more reasonable, you won’t have as many prospective buyers seeing the listing.
You’ve just begun the first step to a price free fall.
You’ve lost all of your listing momenta.
2. Amature Photos and Bad Description
Realtor out at your house taking pictures with their family portrait camera or even worse…their iPhone! Maybe they have a buddy who is a “photographer” Ha! Don’t discount the first impressions.
Before anyone pulls up to your curb to see all your curb appeal, they are checking it all out on their phone and the pictures they see determine if they will take a walk through your house.
Often, realtors overlook this aspect and we see a listing with bad or limited photos.
In order to have a successful listing, you should take the time to clean the clutter out of the house.
Make sure there is a lot of light in the photos and even opt to bring in a professional when needed.
Paying for professional pictures is an investment that always pays off.
Also, don’t think the description on the MLS is a box that must be filled in.
This is an important area to detail and highlight the best features of the house.
Know who your buyers are and use this opportunity as a call to action…Remember–what’s in it for the buyer. Not a list of features.
3. Poorly Lit, Not Pristine
No one wants to walk into what might be their future home worried about what is going to pop out of the shadows!
Open all the blinds and drapes and let the light shine! Get bright lightbulbs that all match.
Your prospective buyers will feel more comfortable in an open and bright space as opposed to a dark and dank area.
4. House In Need Of Big Ticket Repairs
If your house needs some of the major components repaired such as roof, HVAC, windows, foundation, substantial electric or substantial plumbing, this could prevent your house from being sold in a timely manner.
The vast majority of homes are purchased using a lender.
Oftentimes lenders will be reluctant to finance a house if it needs big-ticket repair items.
If your house is in need of repairs that are preventing it from being sold, it might be best to contact a local San Antonio direct buyer.
Capstone Homebuyers is a well known and respected local San Antonio cash homebuyer with great reviews.
The True Costs of Your Stagnant Listing
The longer your listing sits idly, the more the house ends up costing you.
You will be sinking money into the house for the continued expenses such as utility bills, homeowners insurance, and property taxes.
You will also have to consider the time and money you put into the house getting it ready for the MLS, sometimes all for naught.
What You Can Do About It
1. Avoid The MLS Altogether
Many people in San Antonio and across the country are opting to sell their homes to buyers directly.
The process will free them from commissions, repair costs, and not knowing when the house will sell.
At Capstone Homebuyers, we are a team of direct buyers who can make an offer on your house almost immediately.
There is never any obligation.
If you have tried to sell in the past without any luck, or if you simply want to sell without any cost or waiting, a direct sale is an option you should seriously consider.
2. Upgraded Marketing
If you decide to relist the property, you may decide to do things differently the second (or third) time around.
If you are going to do it, do it right.
Make the investment in a professional photographer or videographer.
Pay the costs for the featured and upgraded online listing options.
Do whatever you can to quickly get your house in front of as many people as possible.
3. Set The Price Right From Day One
Nothing can destroy a great listing faster than an unrealistic price.
People will immediately assume the house is out of their league or that you don’t know what you are doing.
Either way, your listing won’t be taken seriously.
By pricing it right from the start, you will have a better chance of attracting prospective buyers and selling the house in as little time as possible.
4. Contact A Local San Antonio Cash Homebuyer
Do you have a house you want to sell in the San Antonio area? Whether or not you have tried to list the home in the past, we can help you avoid the waiting, hassles, and costs of a traditional MLS listing.
Find out what a direct sale can mean for you! We always make fair and honest offers for San Antonio houses!