The state of the real estate market is what determines how quickly your home will sell.
Frustratingly, these factors are beyond your control. But there are several factors that are within your control that can cause your home for sale to sit on the market. Let’s look at 4 reasons your house is not selling and some solutions to these problems.
1. Your price is not right
As we have said before, setting the right price is critical for a sale. Set it too high and those potential buyers who do come through will suffer let down and won't be interested as they are seeing potentially better homes at the same price and those who should be seeing the home won't come out to see it because it is beyond their price point.
Most sellers place a value on their home much higher than the actual fair market value because they are emotionally attached to their homes. Hold on to the memories, but be realistic about what your home is worth. Understand that a buyer is not going to have these same feelings as you and only wants to pay what it really is worth in today’s market.
You may need to re-evaluate your pricing and think about how a potential buyer might view your home—not how you view it after living there for several years.
2. Your home requires costly repairs
If your home requires costly repairs, buyers may not be interested if the repairs are deemed too much to take on. You may not want to take a hit on the price, but it might be the only thing to do to sell your home without renovating it yourself.
3. The house for sale is functionally obsolete
Your home may also be outdated to the point that it is simply not of interest to buyers.
A kitchen upgrade is always doable. However, if you have to walk through one bedroom to get to another, this can be considered functional but obsolete by today’s standards.
In this case, either price your home to reflect the needed updates or to update it yourself. The age and functionality of the house can be a big reason why your home isn’t selling and should always be considered in your pricing.
4. A house won’t sell if it’s not attractive!
We cannot overstate the importance of good home staging and curb appeal when selling your home. The irony is that these are often the easiest things to fix! Your home needs to be prepared for a showing at any time, so consider hiring a professional home stager.
It can be frustrating when your home sits on the market for longer than expected. But if you put a little effort into making the home look its best, offer a reasonable price, and think from the buyer’s point of view, you’re more likely to get it sold.
5. Poor Marketing or NO Hustle by Your Realtor
Gone are the days when a for sale sign could be plunked into a lawn and buyers would show up. With multi-media, social media, networking, print advertising and all the multitude of marketing options and decisions, buyers are easily distracted. You need focused marketing and someone with a proven track record....getting listings by dropping commission prices or making promises that can't be kept is easy. Selling homes is not. Choose someone who has proven they can sell homes, not someone who simply carries a huge listing inventory (not to mention, how attentive do you think service will be if you are one of 15 listings?
Contact me today for a free Home Value Report!
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