Normally when people put their house on the market, they expect it to sell right away. Sadly, that’s usually not what happens. It can be frustrating, but don’t wait to make changes, especially if your home has been on the market for longer than a month.
Here are 5 reasons why your home may not be selling quickly:
1. The Price is Too High.
If condition is not the reason a home isn’t selling, it’s because of the price. Homebuyers tend to pay attention to overpricing, even in a seller’s market that is strong. To predict what buyers would pay, you need to review recent sales carefully and make dollar adjustments to your property based on competitive differences. An online estimate is just a starting point. If you price the home yourself, ask for a real estate agent’s opinion on whether you are being too ambitious or not.
One other way to check price is to listen to feedback that you would get from people at open houses and showings. Browsing local listings helps compare your home you are selling to those around you.
A way to fix a price from being too high is to simply drop it. Price reductions are common and sometimes necessary in certain situations. A significant price drop can get the job done.
2. There is a Problem to Address.
If you have a showing and it doesn’t give you a buyer, it gives you feedback instead. This is important.
A question to be asked could be, “What would need to change to make you want to buy this home?” If you receive the same answer from several people, there’s a specific problem that needs to be fixed.
Once you identify the issue, you can work to fix it. For example, if your house is too dark, you can add lighting to brighten it up or even hire someone to clean the windows.
3. The Staging Isn’t Successful.
Having showings allows the buyers to get a feel for your home that you’re selling, and it gives them a chance to envision the home as their own.
It’s difficult for someone to envision the home as theirs if it’s dirty, there are toys everywhere, there are pictures of your family, etc. A staged home can help the house sell.
In order to get your home ready, you need to declutter, clean, and remove family images and put them in a storage somewhere. Little upgrades can make a huge return on investment, as can hiring a stager that’s a professional.
If you are still living in your house, you don’t have to stage every single room. Mainly stage the living room, kitchen, bathroom, & maybe one bedroom.
During this process, remember that less is always more. Good staging focuses on minimizing distractions and maximizing layout and design to highlight the home’s best features.
4. Your Home’s Curb Appeal Isn’t Good.
Buyers may love your interior, but if they can’t make it to the front door or even get out of their car, that can be a problem. An overgrown yard or ran down house can stop buyers from being interested. A little paint, pressure washing, and flowers can make a big difference. Boosting the curb appeal can be the most effective action you can take to improve the marketability of your home.
Without much effort or expense, you can DIY or work with a professional landscaper/contractor to upgrade the outside of your home.
A first impression is everything.
5. Your Listing Photos Are Bad Quality.
It’s exciting to show off your house after you have all of that work done where you spent so much time on everything to get it to look perfect. Although, if your listing photos aren’t close to magazine quality, no one will come to see it in person.
Blurry iPhone images won’t cut it.
Take the time to get some professional photos of your house done. Some agents contract with local photographers and pay for those services out of their commission. You can even talk to your agent about having a video listing or 3D walkthrough.
If media is not included for people to see or you’re listing the property yourself, more than likely the house won’t sell well.
If whatever you’re doing right now isn’t working, take a second to sit and rethink your strategy. It’s possible to take your home off the market in order to make changes and then relist in. It’s never too late to get your home sold and there’s always a buyer for every home.