Home Selling in Ballwin>Question Details

Jaded Seller, Home Owner in Ballwin, MO

Help!! Why won't my house sell??

Asked by Jaded Seller, Ballwin, MO Tue Jul 9, 2013

My home is appropriately priced, beautiful and well taken care of and I cannot even get an offer on it. Can I have some professional advice on this? I've asked the buyers agents who have shown my home for some feed back (good or bad) and I can't even get a response!

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It is not a buyer agents job to give the seller feedback and when they do it is often wrong as they are trying to get the best deal for the buyer not the seller. You need to first find out what your house is worth in todays market. nevermind what you started it at or what you dropped it, what is its real value. Next you need to walk through as if you were a buyer, look at your yard, roof, siding, windows then inside your kitchen, bath, walls, ceilings, flooring and furnace, hw heater and furnace. Are they up to date, anything wrong, Lastly is there anything offensive such as smells, smoke, pets, dirt, mold etc.? Your listing agent should assist you with all of this. if not, get a new one
2 votes Thank Flag Link Tue Jul 9, 2013
The market holds the value - not the seller. In this high demand situation, where the inventory is declining, yes one would have to agree that relative to deliverables - condition, staging, location, recent updates . . . this home is not appropriately priced. Even if a buyer were willing to pay your price, the financial institue approving the loan may disagree.

First, get an appraisal. Second attend every open house. Third, pay attention to details - declutter, go neutral with paint . make sure the shrubs and grass are near perfect. No nicks in the paint - and CLEAN. Also highly advise getting an inspection, make fixes - then showcase that to perspective buyers. Do this even if you plan to have a realtor. That's all of the home seller's responsibility.

Although prices have increased, they still are less than 10 years ago. Do not expect to cover recent upgrades and improvements. We just sold our home - FSBO. Got same price as appraisal of 10 years ago - but have invested $25K in last few years. So that's our net loss. We still sold for 20% more than the more recent like sales. Why - we upgraded with anticipated buyer preferences, properly staged and had neutral decor. BTW - the location was Ballwin.

This is my third FSBO - and regardless if I had an agenct or chose to do it on my own, the ball is in the seller's court and it takes al lot of work to get property ready for sale. We are renting a house now - which was for sale for 6 months with no offers. The list of must fixes for the owner is very long - including cleaning, yard manicure and replacing basic appliances. Also it was over priced by 20% - in my opinion.

Should you want to try FSBO, be aware that buyers' agents do no like working with sellers who are not represented. So educate yourself about real estate transactions - contracts, riders, title companies. Be prepared to contribute to making this a smooth transaction, might require an attorney. The more you can do in advance and show your willingness to particpiate in a positive outcome, the more a buyer's agent will recomment to his/her client to work with you.
1 vote Thank Flag Link Tue Jul 9, 2013
If your home were correctly priced, it would already be sold. If you were serious about selling your home, you would call three licensed, local, board affiliated Realtors(r), choose the one you are comfortable with and follow their instructions on pricing strategy. Otherwise, it's all make believe. Magical!
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1 vote Thank Flag Link Tue Jul 9, 2013
So, when you say "I've shown the home..." does that mean it's listed "For Sale By Owner"??? How do you know it's appropriately priced? Based on what? I know many Buyers are hesitant to buy properties that are FSBO. This is likely the largest transaction of your life and there are plenty of legal consequences if not done properly. Buyers don't want to get into a situation with someone who doesn't know what they are doing.

There are definitely a few successful FSBO stories out there, but I also know most FSBOs are unsuccessful.
1 vote Thank Flag Link Tue Jul 9, 2013
Several factors go into the selling of a home. On one level, it's price, condition and location. In Ballwin, if your home is priced for the condition and location, it should sell very quickly, especially with such low inventory. If it isn't, you have ask yourself if it's really priced correctly. Are there pet or smoke odors? Have you listened to what your agent has told you? If your agent hasn't given you any suggestions, ask! If you're trying to sell if on your own, maybe you haven't been as objective as you should be. Is it getting the appropriate amount of marketing? Qualified buyers need to see your home. Are the pictures and the marketing drawing them in? Have there been open houses?
0 votes Thank Flag Link Tue Nov 11, 2014
I live and work in the Ballwin MO area. I list and sell homes all the time in the Ballwin MO area. Right now it is a SELLERS market in the Ballwin, MO area. While there had been price bands that had not sold as well earlier in the year (the higher price bands had to wait for the lower price bands to sell so those sellers could become buyers at the next higher price band, etc, etc, with the domino effect) - we are well past that point now and all price bands are selling well. Slab homes are also doing well now. The homes that I see that are not selling are: a) over priced; b) very unique and will take a unique buyer; c) very personalized; d) have an issue that is hard to overcome (wet basements, bad yards, bad layouts, back to something unpleasant, etc).

I would suggest that you have a trusted friend go through your home as if they were a buyer and then tell you what they honestly think about the home - from wall paper to bad carpet to too much clutter, to bad layouts, on. Then I suggest that you go visit your competition that are on the market and honestly compare yourself to them - price, location, amenities, condition, staging, etc. If you aren't as good or better than they are, you aren't going to win the buyer.

Remember that you have to win not only the buyer but the buyers agent - if your home is difficult to show, they aren't going to waste their time trying to set an appt to show it. If you are insulting when you deal with them, they will take their clients somewhere else.
0 votes Thank Flag Link Tue Jul 9, 2013
Is your home listed with an agent? If so, what does your agent say? The most common causes are price, location, condition and not adequate marketing coverage. If you are trying to sell it on your own, that is very difficult in this market. Buyers find their homes online. You need to be well-placed on the numerous websites so buyers can find you.

Debbie Dutton
Coldwell Banker Gundaker
314-398-4909
0 votes Thank Flag Link Tue Jul 9, 2013
I've shown the home over 30 times and I've dropped the price 15,000. It's appropriately priced.
0 votes Thank Flag Link Tue Jul 9, 2013
Repeat after us;
My home is not appropriately priced!
My home is not appropriately priced!
0 votes Thank Flag Link Tue Jul 9, 2013
If your house is marketed properly, you need to drop the price. It's simple supply and demand. Lower the price incrementally over time and you will hit that magic number where supply meets demand. You will know it. The phone will start ringing, the buyers will start coming and the offers will start coming.
0 votes Thank Flag Link Tue Jul 9, 2013
What does your Realtor say? Hopefully you have it listed with a Realtor? He/she should be the one to ask. I have no idea what your agent is doing or not doing. If you're getting lots of showings, but no offers, then you need to figure out what's turning people off. Your agent should be the one following up with Buyers' Agents.
0 votes Thank Flag Link Tue Jul 9, 2013
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