Why Houses do not Sell ? Part 2 - STIGMA
STIGMA - defined as a mark of shame or discredit or an identifying mark or characteristic
This is part 2 of our 4 part series of Why Houses Do Not Sell . For part 1, please view "Why Houses Do not Sell - Part 1" where we focused on the importance of having the right realtor who is an expert marketer and who specializes in internet marketing.
The second reason why houses do not sell would be a possible STIGMA associated with the property. The following are examples of different stigmas that are most common to the average seller. These stigmas are followed by simple and doable remedies that an average seller can do to overcome them.
1. Days on Market - If a property has been on the market for close to a year or even six months in some areas, what is the first question or statement that will come from the buyer (or a realtor). It would be "What is wrong with it ? " or worse yet "There MUST be something wrong with it. Let's pass."
2. Location of the property - There are many reasons why location may hinder a sale such as, being too close to a highway or heavily travelled road, being located at the end of a dark poorly lighted dead end street, next to a shell or unkempt property, being close to a loud bar or club, etc...
3. Dirty, Ugly, Smelly - Have you ever walked into a house and wanted to leave the moment you walked in ? This is because the house is a victim of the Dirty Ugly Smelly phenomenon. Dirty floors, stained carpets, dishes in the sink, pet odors, mildew, peeling paint and wallpaper, clutter, broken furniture, unhinged doors, non-functional lighting, and the list can go on forever. Yards and exteriors are not excluded from this phenomenon.
4. A Negative Event - This one is the subject of many "what ifs..." in real estate school. Examples of a past event that could have a negative effect on the sale of a home are sadly, homicide or suicide in the property, drug or other illegal activity having transpired in the home, or my personal favorite is the dreaded haunted house. Oh boy, do I have stories to tell !
•1) Adjust price. It is not always an option but it works!
•2) Clean, de-clutter, fix, paint, freshen, deodorize, trim back, add light, fresh plans or flowers, and essentially stage your home so it looks fabulous! Home and garden magazines as well as the internet is a great resource to borrow tips. For those of us who do not have time or feel overwhelmed, we recommend a professional cleaning service and or a staging professional.
•3) Advertise like crazy even if it is only on the MLS and make sure your photos show off the best characteristic of your home. No photos or poor photos is a killer!
•4) Identify the positive aspects of your home and run with it in all of your marketing and advertising messaging. Think positive, talk positive, and believe it or not, when people enter your home they will feel positive.
What other stigmas are there that you have encountered ?
What other potential remedies or suggestions do you have to deal with specific stigmas ?
Parts 3 and 4 are coming soon !