I’ve been keeping track of expired and canceled listings in the Portland Metro Area market for over a decade. Many of these unsold listings have similar reasons why they didn’t sell that I see over and over again. There are some exceptions, but most of those listing don’t sell because of these six reasons:
- Pricing without adjusting for negative features
- Lack of preparation
- Bad Listing data/Online presentation/Marketing
- Feedback & Adjustment
- Overpricing Initially
- Agent Skills in Communication, Negotiation, Marketing and Pricing
Call/Text Shawn Yu 503-515-4499 for Home Valuation/Selling Consultation!
1. Pricing without adjusting negative features
What affects the home values negatively? Many of the sellers underestimate negative features can’t really be changed.
If you don’t adjust your listing price for these reasons, you’ll sit on the market.
- Next to busy roads (30+ mph and highways)
- Near high voltage power lines
- Too many stairs in front entrance and garage
- Unconventional layouts
- Near commercial zones
- Sloped yard or road
- No backyard privacy
- No backyard space
2. Lack of preparation
With some prep work, these negative features can be improved.
- Strong interior paint colors
- Overcrowded rooms
- Overgrown bushes and trees
- Wear and tear/visible needed repairs
- Dirty interior
- Personal family photos
- Religious items
- Bad smell
3. Bad Listing data/Online presentation/Marketing
Your house will not sell if the home buyers don’t see your listing online. They also should want to see it in person.
Left photos are other agents’ from the listings didn’t sell. Right photos are Shawn’s that resulted in sales.
- Not enough exposure to constant internet/social media marketing
- Not enough traditional physical marketing: open house, Realtor network, for-sale signs, flyers
- Bad photos and videos
- Wrong information: map location, school info, square foot, bedroom/bathroom counts, missing amenities, price, HOA fees…
- Too many of the photos that take away buyers’ curiosity and desire to visit
- Not enough focus on the positive and attractive aspects of a house (views, privacy, gardening space, updates…)
- Inaccurate and unattractive description
- Showing too much of unattractive aspects of the house
4. Feedback & Adjustment
Asking for buyers’ and buyer’s agents feedback is crucial. Because they are directly comparing your house with other homes that are on the market.
I’ve had success in selling based on the feedback and the necessary adjustments in:
- Price
- Adjusting room temperature
- Adding a water feature to mask some of the road noise
- Changing light bulbs
- Narrating negative aspects of a house into positives
- Using cleaning/better smelling methods for better first impressions
- Adding small staging items to add warmth to rooms
5. Overpricing Initially
Overpricing initially can really hurt the sale and net profit for the sellers, eventually. The first 3 weeks are crucial to get the best offers. After about a month sitting on the market (2 months for luxury listings), home buyers look at your listing and think “what’s wrong with that listing”
- Adjusting price according to how many buyers visit in the first few weeks
- “Test the market” price should be within a reasonable range
6. Agent Skills in Communication, Negotiation, Marketing and Pricing
Friendly, cooperative, professional Realtor’s representation can make or break deals. I see the opposite often.
- Answer all inquiries?
- Helpful to all buyers and their Realtors?
- Encouraging visits and making offers?
- Setting the right expectations to buyers and buyers’ Realtors?
- Overcoming objectives and obstacles?
- Good communicator?
- Pursuing win-win for a smooth closing?
Here’s Shawn’s Selling Approach
- Excellent online presentation of the home
- Focus on strengths of the property, not weaknesses
- Persistent marketing
- Constant communication
- Make necessary adjustments
- “Turn every stone” selling approach
- Network with top-selling agents
- Local knowledge
- Negotiation skills
- Selling since 2008 where I “learned business & survived through the market crash.”
- Commitment to excellent service
Contact Shawn for free Home Valuation today!
Shawn Realty 