What Could be Causing Your Home not to Sell?

Posted by on Thursday, May 16th, 2019 at 11:48am.

Why Your House Isn't SellingThe most frustrating thing for a seller is when their home sits on the market for a long time with no action. Or maybe the home is being viewed by lots of potential buyers, but no one makes an offer. You have to make your home unique, as it has to stand out among all the other homes on the market.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Deteriorating Home

You want to look at other homes that are on the real estate market. You need to see what is selling, and what is sitting for long periods of time. The homes that have sales that are pending are the ones to go by.

Look at the current status of your home. Are there a lot of updates that are needed? Small things can make a big difference, such as changing light switches or lighting. If the homes that are selling all have new flooring, then you may want to consider updating your worn out carpet.

Photographs

Buyers want to see as much of your home as possible, that is why you want an array of photographs in your listings. However, ensure that they are quality photographs, otherwise it could deter a buyer from wanting to view your home. It's best to call in a professional who knows what to capture when wanting to sell a home. This will pay off in the long run.

Overpricing and Days on Market

Poor pricing, especially overpricing, is a common reason that many homes do not sell. An overpriced home will attract attention from home buyers who expect more for the price. When buyers see that the home does not compare well to other homes in that price range, they'll move on without ever considering buying that house. An overpriced home may sit on the market for days, and then weeks. 

This sends red flags to buyers. Buyers who see that a home has been on the market for a long time may start to wonder if something is wrong with the property. This makes the home even less attractive to potential buyers.

Eventually, most overpriced homes must go down in price. When this happens, this sends another message to buyers. Buyers often assume that sellers who are willing to lower their price once will likely lower the price again. This puts the seller in a poor position to negotiate.

A competitively priced home, by contrast, will attract buyers who can afford homes in that price range. The home will compare well to other homes of that price, and will likely sell quickly. 

Marketing and Advertising

There are no rules that say one form of marketing is better over the other. You want to combine marketing. You can place an ad in local newspapers, as well as online classifieds. Try distributing flyers or postcards to potential buyers who view your home. Upload a virtual tour of your home to popular websites. Hit weekend advertising really hard, as this is when most people take the time to view homes. Have an open house. Sundays tend to be the best days for these.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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