Empty home selling. It’s probably not a topic at the top of your list. But, if you’re selling a property and can’t stay during the marketing process, you’re in for a few surprises. So, you’re making the move to Orlando. And, you have to leave your current house vacant. You’re bringing everything but the kitchen sink with you. Now, that’s perfectly normal. When someone relocates they take all their belongings. But, if you become an absentee home seller, you’ll learn it definitely presents a few challenges. There are a number of reasons for this. Which is why it’s very important to understand what it really means to sell an empty home.
What is Absentee Home Selling?
Absentee home selling is precisely what the term states — it’s the act of selling a property with the homeowner away. The owner might be in another county, state, or country. But, isn’t there through most or all of the marketing process. This differs greatly from its common alternative, when the homeowner remains in house. In fact, it’s not at all unusual for homeowners to request what’s known as a post-settlement possession or seller rent back. Meaning, the seller stays in the house after the closing and rents it back for a period of time.
“If the listing for your home hasn’t been attracting buyers for a few weeks in a fast-paced real estate market, or for a few months in a slower one, you certainly have good reason to be worried. A home doesn’t sell due to a variety of factors, some of which you can control and some of which you can’t. ” —Source
Now, what makes empty home selling so difficult is the very absence of the seller. Think about it for a moment. If you were a buyer, you’d like to personally tour the property. And, probably ask the seller a few questions. Of course, you can usually do this at an open house. But, if the seller isn’t around, you have to go through the listing agent. Plus, you must consider the strange but true fact that buyers greatly prefer move-in ready homes (which isn’t the same as empty houses). Put another way, you probably prefer seeing a fully decorated model home rather than house with bare walls and nothing inside it. This is because it gives you a sense of proportion.
Why Empty Home Selling is Such a Challenge
If you seriously put some thought into the last explanation, you can quickly deduce why absentee home selling is more of a challenge. Here are the largest challenges of selling an empty home:
- It’s a blank slate. Sure, a blank slate is a wonderful thing, if you already have an idea of what it could or did look like. But, if you encounter it for the first time, you’ll struggle to “arrange” the furniture and imagine the flow. Don’t feel bad, you’re not alone. Statistics tell us only 1 in 10 people can imagine a space in another way than they first see it.
- There’s a lack of layout to build from. This goes along with the first. When a house is empty, it’s very difficult to envision how it will work for a new owner. In fact, it’s usually a bit overwhelming because it’s just too much to comprehend without some sort of a guide.
- Every flaw is visible and conspicuous. This is perhaps one of the biggest turn offs to potential buyers. Because it’s empty, there’s nothing to conceal any defects. Which means they’ll not only be visible but downright attention grabbing. Buyer will notice and they will object to such negatives.
If you are considering buying or selling a home in Orlando, contact us for the latest market information. We’ll also provide you with the right advice about the local real estate market so you make the best decisions.