“Why isn’t my house selling?” is something we hear often when people reach out to us about their house or condo in Hawaii. Waiting for a buyer can be stressful when you’re selling your home, especially in a hot Hawaii real estate market when you thought homes last for hours, not days. Emotionally, the constant preparations for showings every weekend and subsequent let down as no offers follow can be exhausting. Financially, depending on the circumstances you’re facing, the bills keep piling up as time passes. If you’ve had to relocate elsewhere on island or to the mainland, you’re now carrying the burden of paying and caring for two properties. If the days are adding up to weeks and months, it can become downright depressing as every day passes, watching every house except yours get snatched up. But there are likely a few reasons why your Hawaii house isn’t selling.
Maybe it’s time to change things up! When a listing lingers on the Hawaii market, something isn’t right – perhaps more than one thing. When it’s just isn’t working, you fix it. Given that you have mere seconds to capture the attention of the average buyer online (or in person from the street), no singular fix is necessarily more important than the other. It all matters when you list your home. By learning these six reasons your Hawaii house isn’t selling, you can make better-informed decisions and finally sell your home and turn the page.
Overpriced
When buyers are researching homes, they quickly become intimately familiar with the best locations and associated pricing. If the features, location, and other determining factors don’t add up to your asking price, then this is most likely the reason your Hawaii house isn’t selling, i.e. you’re overpriced (yes, you can still be overpriced in a hot market).
While buyers are willing to make offers lower than the asking price, they don’t want to deal with the discomfort of coming in with an offer so far below the asking price that it would appear insulting. Overpricing equates to starting on the wrong foot with your listing. Setting the price right from the beginning is the best way to limit the time your home sits on the market and more quickly connects you with your end buyer.
Outdated
When buyers are walking through your home, they have expectations built around the latest technology and styles and most up-to-date modern features of today’s homes. You may need to renovate and update certain elements of your house, from countertops and cabinets to appliances and faucets and other convenient features that meet the demands of technology. While you may love the wallpaper you’ve had since 1972, it’s likely turning off your potential buyers and could be the very reason your Hawaii house isn’t selling (although we hear wallpaper is making a comeback!).
Repairs
Deferred maintenance and needed repairs — this is likely why your Hawaii house isn’t selling. The majority of buyers seek a home ready for their family to move right into and begin their new life. Additionally, as you may have already learned, bargain hunters typically include contingencies in their purchase offer asking for credits against the cost of repairs – or for you to actually attend to the repairs yourself (yuck). These deductions often make the net offer come in far below the home’s value, even with the need for repairs. Unless your home is brand new (past 5 years), there are likely to be some repairs you’re aware of that need to be completed – many homes in Hawaii need some TLC and general love. Keep in mind that the consequences of failure of disclosure these items in traditional home sales can be extremely costly if you end up in court. Disclose everything.
Bad Advertising
Advertising is a multifaceted strategy. Not only do you need professional photographs (your iPhone doesn’t count), but buyers also have expectations these days of virtual 360 tours (check out this 3D walkthrough of a house we purchased and renovated in Kaneohe’s Haiku Plantation), which require the services of professional photographers and drone pilots, ex. Matterhorn operators. The write-up needs to entice them with a tantalizing description of the property to keep their attention on your listing instead of the competition’s. If you or your real estate agent haven’t taken advantage of the vast pool of buyers offered by optimal advertising reach and content, this may be the reason your Hawaii house isn’t selling. Bottom line: marketing is important and deserves a professional’s attention.
Staging
Have you removed any personal items and mentally opened the door to new buyers? Staging is commonly used in marketing homes for sale today because it gives the buyers a blank canvas to imagine themselves physically occupying the space. If your family’s Vegas vacation photograph is on the mantle, or your favorite color tone of Hawaiian blue ocean is on the walls, it can prevent the buyer from picturing themselves living in the home – if they don’t like blue. Using neutral tones and removing some of your visible belongings during walk-throughs can help reduce the time on the market by making your home more universally appealing. If it appears to be someone else’s home already, this is a potential reason your Hawaii house isn’t selling.
Availability
All of the above steps are meant to driving interest in your property and, ultimately, showing appointments and offers. The meetings equate to time out of your busy day, and showings mean keeping the home looking ‘magazine perfect’ at the drop of a hat. If you’re unable or unwilling to make your home open and available, sometimes with not much more than a moment’s notice, then you probably found the reason your Hawaii house isn’t selling.
But why wait or worry at all? Oahu Home Buyers will pay you a great price, even if your Hawaii house isn’t selling on the MLS. Find out how we can help solve your problems! Oahu Home Buyers makes it easy, just call (808) 333-3677 or send us a message today.