What is a home seller’s worst nightmare?
Not being able to sell their home.
Though you have been told time and again that selling your home will take time, you may find it difficult to fight the feeling of panic if your home is sitting there, unsold, month after month.
If you find yourself with a home that isn’t selling, take a deep breath, take a step back and assess your situation. Here are a few of the most common reasons for why your home isn’t selling.
A Realtor will be able to show you even more than we can on why your home is not selling. Consider hiring a local Realtor!
1. It Isn’t Priced to Sell
A house that is overpriced isn’t likely to sell – at least not quickly. Remember, your home is only worth as much as someone is willing to pay for it. It doesn’t matter what you feel it is worth.
If your home is listed above market value, you will miss out on sales, which is why it is so important to work with your agent to price your house right for your market. And you want to be sure to get your price right from the beginning. Constantly dropping the price of your home as it sits for an extended time on the market may indicate to buyers that something is wrong with it.
That’s not to say you can’t make small adjustments. If you are struggling to sell and want to reduce your price, evaluating comparables in your area to see how much others are reducing their homes by, as well as average prices. Be sure to also consider the search parameters, and price your home to fall into commonly searched price ranges.
2. You’re Using Poor Listing Photos
Trulia notes that 90 percent of buyers start their home search online, and that it all starts with the photos. If you photos are minimal or subpar, potential buyers will skip over your listing.
Your listing photos are your first opportunity to market your house, so they need to be exceptional. To take great photos, make sure you are using a camera that produces high-quality images that look great in print or on digital displays. Focus on capturing your home’s strengths, while downplaying any weaknesses in the images. If it works in your budget, have professional photos taken. A professional can stage your home appropriately and capture the best shots.
3. The House Is In Need of Repair
Few people will want to buy a house that looks terrible and in complete disrepair.
Your house needs to be in a condition that is consistent with your asking price. If the home is in poor condition, but you are asking the same price as a well-maintained comparable listing, then you will not see any interest in your house.
This doesn’t necessarily mean major renovations. Your home just needs to look clean and “pretty.” For example, make sure your roof has all of its shingles and that there are no leaks or water damage anywhere. If you have landscaping, make sure it is tidy. Foundation cracks and uneven floors can also be a big turn-off to buyers.
Small, simple repairs can make a big difference to selling your house, especially when they put your home on par with expectations for your asking price.
4. You’re Not Maximizing Your Exposure
If people don’t know your house if for sell, they can’t buy it, which is why marketing and exposure are so crucial to the sell.
There is no one “perfect” marketing solution that will guarantee the sale of your house. You need to use a combination of marketing efforts to maximize exposure, such as
- Online listings on all major real-estate websites
- Virtual tours posted online
- Social media push
- Open houses
You can’t have too much exposure, so look for and capitalize on any opportunity for marketing your home. Hiring an experienced real estate professional is a good idea to help with the marketing as they know the ins and outs of the real estate industry, and can make sure you are expanding your exposure as wide as possible.
Don’t get discouraged if your house isn’t selling as fast as you expected. Make some changes based on these suggestions and have patience. The right buyer will come along.
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