5 Reasons Why Your Beverly Hills House Isn’t Selling

Selling a home in Beverly hills is difficult enough by itself, but what about when your Beverly Hills house is not selling? It is a frustrating position to be in since you have probably spent months trying everything possible, and you are not alone.

In a perfect world, selling in a Beverly Hills home would be a linear, unpredictable process. You put your house on the market, you schedule multiple groups, and you get your offer. However, as anyone who has sold a home before knows, it doesn’t always work like this and many people are left wondering why their home isn’t selling — and what they can do about it.

If you live in Beverly Hills and are having trouble selling your house there may be a few reasons why. Houses in the area sit vacant for months or even years due to these 5 challenges:

Homes Are Overpriced

The overprice your home, the smaller the pool of available buyers. Likewise, homes that are priced well above the comps in their neighborhoods—without any distinguishable added value—are going to get passed over. Purchasing a home is a huge investment, and buyers want to make sure they’re getting the best deal possible. An overpriced home is not a good deal, and it’s not going to have much luck selling.

Beverly Hills homes are generally overpriced by almost $500,000. The median price of a two-bedroom, two-bathroom condo in Los Angeles’s Beverly Hills neighborhood is $2 million, according to Zillow. In the rest of Los Angeles, it is closer to $125 per square foot. The average price of a single-family Beverly Hills home is $6.9 million through September 2021. That’s a lot higher than the median price of a single-family house in Los Angeles County as a whole. Why are Beverly Hills homes so expensive? Beverly Hills is one of the wealthiest neighborhoods in Los Angeles County. Beverly Hills has a median family income of $150,000 +. That’s more than double what it is for all of California ($61,500) and almost triple what it is for the United States as a whole ($53,600).

The taxes are high, and Beverly Hills homeowners also see smaller tax deductions because they have fewer exemptions. Why do they have smaller deductions? To begin, Beverly Hills’ home values are typically higher than their West Hollywood counterparts.

Beverly Hills real estate owners can also expect to pay more in insurance premiums because areas of the city is considered a high fire risk area, which will drive up rates for homeowners and renters alike. These homes are considered to be in a high-risk area by insurance providers because Beverly Hills is a more expensive community to evacuate in an emergency.

Many of my clients are surprised by how much extra this adds to their monthly budget as well. I have multiple clients tell me stories about how they initially figured it would be around $400-$500 per month on top of what they were already paying in premiums for one unit with all the common area coverage included.

Home Needs Repairs

Beverly Hills has become so expensive that many buyers out there don’t want to even look at a Beverly Hills home if it needs work because they would rather buy new elsewhere! less than 30 days on market- If you have your house listed for sale and no one’s coming over after more than 30 days, then this might be why you are not getting any offers.

The types of repairs that keep buyers away are the water heater broke and flooded three bathrooms, a home was infested with fleas, another had rodents in it. Vacant and empty if you have an open house but no one is showing up then maybe your Beverly Hills home doesn’t look like someone lives there. Messy – not staged if your Beverly Hills house looks cluttered or poorly organized buyers will walk away because they feel that nobody has been taking care of the property and it would be too much work to fix it themselves. Poor marketing strategy – most people don’t realize how important market penetration can be when trying to sell a Beverly Hills home property!

Homes that need repair typically need a major price decrease. I recommend waiting until after you find a buyer to make any repairs or updates to the home since it will only devalue your property if done before selling.

• Repairs – if your Beverly Hills house requires repairs. The buyers will feel that they’ll need to spend more money on it than what it is worth. They might walk away from the deal altogether! Think about staging when selling your Beverly Hills house. If there are empty rooms in your Beverly Hills home or too much furniture inside of it, this could make potential Buyers feel overwhelmed and stressed out which can lead them to withdraw their offer entirely. My team will help with all those issues, and he has sold hundreds of homes successfully.

Beverly Hills homes in need of major repair are often only worth $200,000 or less. In Beverly Hills home needs to be very special and unique to sell for more than what it is currently valued at. The Beverly Hills market has become very competitive with so many houses on the market that buyers can afford to be selective when choosing their next dream home!

Rooms, a home was infested with fleas, another had rodents in it. Vacant, and empty if you have an open house but no one is showing up then maybe your Beverly Hills house does not look like someone lives there. Messy not staged if your Beverly Hills house looks cluttered or poorly organized buyers will walk away because they feel that nobody has been taking care of the property and it would be too much work to fix it themselves.

Home Is Vacant

If a home is vacant and unstaged, it looks like nobody lives there and buyers will feel that they would need to spend money on the house. The drawbacks of selling your Beverly Hills house while it is vacant- No one is living in the property, which makes it impossible to stage and show buyers.

• Photos: Photos are important, it is part of selling your Beverly Hills home. Buyers need to see what they can expect from their new purchase, so make sure you include photos that accurately reflect how great your Beverly Hills Home is. If you don’t have any good pictures, then hire someone who knows how to take them properly using natural lighting (outside midday sun), staging furniture, etc. With the advent of technology, the business of buying and selling has changed to mostly being online. People tend to look for images online before coming to look at the property in person. Therefore, it becomes extremely essential to have photos that not only attract buyers to your home but also make them wish to see them in person, a lot of times people put up poorly photos that are not even clear enough for the audience to view. Such photos not only provide an improper view of your house but also distracts the audience and puts a full stop to the buying process.
• Cluttered: if a Beverly Hills home is cluttered or poorly organized, it is unattractive to potential buyers who think no one has been taking care of the property. They might also assume it would be too much work for them to clean/fix up themselves. A messy home is no way to show off a Beverly Hills house.
• Messy: if it is messy and not staged, buyers will feel that they would need to spend money on the house! The obvious downside is you will probably come across as disorganized or irresponsible, which does not exactly scream Beverly Hills luxury homeowner. We can help make listing your Beverly Hills property easy while providing an excellent marketing strategy for selling your Beverly hills home fast.
• Poorly marketed: If a Beverly Hills home isn’t being advertised in places where people look when buying homes (ie social media), then your Beverly Hill’s property probably won’t sell. It simply doesn’t get seen by enough eyes! Our team specializes in Beverly Hills Real Estate, so talk to us before you list your Beverly Hills home property. What does it mean to have a home poorly marketed? a poorly marketed home isn’t advertised in places where people look for homes (social media, internet). Other examples of bad home marketing include: not having photos of the home or not having professional photos taken. Beverly Hills not having a realty sign affects your sale by missing out on foot traffic, which means less chance of a Beverly Hills home sale. Not having a virtual tour for your home in today’s market is a problem because one in five people will be looking for a Beverly Hills home on their smartphone. Most people search online for a home now, and there are two real estate market trends that play a major role in how fast a home sell: (1) The time of year that you’re listing. (2) Whether it is a buyer’s market or a seller’s market. The best way to avoid a stagnant sale process due to bad timing is to be strategic when you list. It’s better to wait and get on the market when your chances for a faster sale are high than to go on the market too early and let your listing get stale.
• Overpriced: Overpricing your Beverly Hills property is one of the biggest mistakes that you could make with selling your Beverly Hills house fast. You will get less money for overpricing your Beverly Hills luxury property! We specializing in Beverly Hills real estate so let us help your price out the list if you want top dollar, when we list your Beverly hills homes – many times people want their Beverly Hills house on market but are not willing to partners in that process, they put up walls and roadblocks for the Beverly Hills Realtor trying to sell their Beverly Hills property, then leave it all alone as if they are not going through enough.

Not having an agent to sell your Beverly Hills property for you is another reason why it likely won’t sell. It simply does not get seen by enough eyes. Hiring the right Beverly Hills Realtor is critical in today’s competitive marketplace. Our team Beverly Hills realtor & luxury home specialize and helped hundreds of people buy and sell their homes.

Call us at 424-239-6519 if you need help and want to talk to one of our Beverly Hills real estate team or visit us at erikrbrown.com can help your Beverly Hills property market, and determine your home’s fair market value. We also understand what price point is likely to give to our buyer when making their offer and avoid wasting time on offers.

Listing is Insufficient or Outdated

An insufficient listing can mean a few different things. It might be that you didn’t include enough information about the property or your Beverly Hills home listing is lacking images. It could mean that the information and images are there, but they’re not quite doing their job, think dark, blurry pictures, or wordy descriptions that leave out the stuff that matters, like what’s so great about the location or key features of the home. When a lot of care hasn’t been invested into the listing. It suggests that a lot of care hasn’t been invested into the home either, and can be a big turn-off for buyers.

An outdated listing, on the other hand, is something different. That your Beverly Hills home has been on the market for a long time. If the Beverly Hills home listing is full of pictures with snow in the yard, buyers are going to know that the house isn’t selling, and they’re going to wonder why. Try to avoid having your listing pictures taken with details that could date them, such as Christmas decorations. If you can’t avoid it (such as if there’s snow on the ground when you first list), have new pictures taken when the season changes.

• Your Home Not Making a Good Impression – if you are getting to shows, but your house isn’t selling, consider that it might be due to aesthetics. Not everyone wants to take on a project, so if your home is in poor condition and in obvious need of some repairs or a good cleaning, it’s not going to be attractive to buyers, even if the bones are good. The same goes for if your home is decorated boldly, in a style that says “niche” more than widespread appeal. Again, it’s not that these things can’t be fixed, but that many buyers are looking for a turnkey home or at least one that isn’t going to cost them a lot right at the outset in repairs and design.

To show off your home in its best light, aim for a neutral appearance. That means no clutter and no loud design choices, as well as cleaning and repairs where needed. If you’re not sure how to go about tackling this task (it can be a big one), bring in a professional stager. Staging your home can be as simple as decluttering your space, or might require putting overflow furniture into storage or painting some walls. If you do it right though, you’ll go a long way toward ensuring that your house makes the right impression with buyers and helps them more easily envision themselves living there.

If your house is not selling, try to figure out why as soon as you can. The longer your home sits on the market, the less action you are going to get on it. But if you identify and take care of the issues that are preventing it from getting an offer, you could speed up the process and finally get your home sold.