Do you have a house for sale in Long Island NY that is just sitting on MLSLI and is not selling? It happens more often than you would think and there are usually similar reasons why it isn’t generating the interest you would like to see. In our latest post, we will help you figure out why your house isn’t selling in Long Island and what you can do about it.
Poor Listing Quality
Now more than ever, buyers shop for homes online. Be it on their local Multiple Listing Service, (MLSLI for folks looking to sell a home in Long Island) or on Zillow, Trulia or any of the other Real Estate websites now available. When a realtor posts your house listing on MLS Long Island, the data, including photographs, will populate to many house selling sites within a couple of hours, if not sooner. Buyers in Long Island, or other parts of New York and all over the world who are interested in buying in Long Island will be looking at your for sale listing and the photos of your home. From a marketing and sales standpoint, the two most components of the listing are the photographs and the general description of the property. I will start with photographs first.
If you have made the decision to sell your house, you might as well give it your best shot. The biggest mistake we see and one of the easiest to fix, is the use of poor quality photos. Photo quality is a two part equation. The first being the quality of the camera and the quality of the photographer. Please, please please make sure that your realtor is using a professional photographer with a professional camera. As a matter of fact make sure that it is written in you listing agreement (contract) with the realtor. In Long Island, this is an expense that typically costs the realtor $250-$300 and is essentially paid for out of the ample commission money you will pay the realtor at closing. Some realtors will try and save a few dollars by taking the photos themselves with a smartphone, or will hire a discount photographer. You may also want to note in your listing agreement that you have the right to approve and disapprove the photos used if they are of poor quality
The second part of the equation requires work on the sellers side and that relates to the quality of the subject matter, you house! People don’t want to see other peoples clutter plain and simple. While you might not be able to remove all of your possessions for the photos, at least do a good cleaning! We have seen people use photos with piles of laundry on their beds and dishes in the sink. Make the effort to get your property in the best condition for your listing photos. Please make sure that people or pets are not standing in the background of photos. It definitely creeps people out and definitely doesn’t help. You see it time and time again… bad photos can ruin a houses chance of being sold.
The listing can also be bad if there is bad if it has a poor write up. It should clearly describe the house without sounding phony or like all the other listings out there. It should capture attention while clearly outlining what to expect with the property. I always approve the language used in my listings, because I have routinely been disappointed with listing provided by realtors I have used in the past.
With a direct sale to CoMax Properties, you won’t have to worry about bad listings or even having to market the property. We will buy it as-is, mess and all.
While most agents will be honest about what your house will sell for, there are others who will inflate the asking price in order to get you to sign a listing agreement. Ask them to sit down with you and run through the actual comparable sold properties that they used to determine your asking price. It’s very important that the comparable properties be within the last 6 months, within 1/2 mile of your property and be in the same school district. Also make sure that the comparable homes have the same bedroom and bath count and features, like finished basements, garages, etc. You might want to also spend some time doing your own research to get multiple options as to the value of your house. Look at what other homes have sold for, not just ones that are currently listed. Factor in the condition of your home compared to the sold homes and repair costs and be objective in your pricing. When you list too high, the property will sit there, and eventually having to be lowered in price. This will push your listing to the bottom and make people wonder if there is something wrong with it because it has been on the market for so long. If it sits on the MLSLI for any period of time, the amount you are in ever increasing long island property taxes, utilities, insurance, and maintenance can add up. By selling your home quickly, you will be able to keep a considerable amount of cash in your pocket.
Most people looking for a house will want it to be turnkey. Moving is hard enough and if they are planning on living in the house right away, the last thing they will want to deal with is a massive renovation or project. One way to get around this is to offer a credit for repairs. This can grab people’s attention as they will have the freedom to customize things as they would like. There is an old saying in the real estate world that repairs and renovations always take longer than you plan and will always cost more than you think. Another important factor to consider now is the ever increasing scrutiny by Long Island municipalities, towns and villages on houses that have un-permitted work done. In fact long island permit expediters are reporting that some municipalities will look through the for sale listings of homes on MLSLI to identify homes that they are recently renovated, have a new kitchen or a new bath, and issue a violation and a stop work order (even though work was completed) for un-permitted work. The home would then be be able to be sold until such time as permits are pulled retroactively, inspections are completed and code requirements are met. This can result in fines, increased permitting costs, court appearances and lengthy delays, depending on the jurisdiction.
To avoid making repairs or offering buyers a credit, consider selling your home directly.
A Poor Agent
While there are many excellent agents out there, not all of them are as great as they would like you to think. Some are inexperienced and will give you poor advice. Others will not know how to properly market your property. And others will simply be lazy and not respond to potential buyers in time. Many sellers kick themselves for signing a listing agreement with an agent, then ending up having to do much of the work themselves… still having to pay the agent’s commission. With a direct offer from CoMax Properties, there are no contracts. We make you an offer and you decide if its right for you. There is never any obligation.