Selling a house can be an emotionally taxing experience, especially when it takes longer than expected. According to the National Association of Realtors, homes spend an average of 68 days on the market before selling. If your home has been on the market for longer than that, you may be wondering why it isn’t selling. From preparing your home for a quick sale to diagnosing the reasons for delays, sellers can use this resource to take control of the home selling process.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
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1. The Price Is Too High
Fixing the issue of an overpriced home can be achieved by analyzing recent sales and making adjustments based on differences in the market, seeking advice from a real estate agent, listening to feedback from open houses and showings, and browsing local listings. A Home Value Estimator tool is a helpful starting point for this task. Having a real estate agent’s expertise can help determine if expectations are too ambitious. Lastly, comparing the price to similar properties in the area can provide valuable insights into whether pricing is an issue.
How to Fix It
Considering a price reduction is often necessary to attract potential buyers and boost the chances of selling your home. When deciding on the amount of the price drop, it is important to consider the following:
- Making a significant reduction rather than continuously reducing the price by small increments every week.
- Consider online filters: buyers typically search in specific price ranges, with $25,000–$50,000 increments.
- If there have been numerous showings but no offers, then a 1% markdown may entice the right buyers. If showings are limited, a 2%–3% reduction may be necessary.
2. You Missed the Market’s Peak
Real estate is in flux, and when the market changes, so do the prices. If you miss the peak of the market, it can be difficult to get your asking price. But all is not lost: there are steps that you can take to adjust your listing price to reflect current market conditions and maximize your chances of making a sale.
How to Fix It
Unsurprisingly, if you want to sell your home quickly, you’ll need to ensure it’s up-to-date and competitive with the current market offerings. Suggested steps include:
- Check for Maintenance Issues: Inspect the house, including windows, doors, plumbing fixtures, and electrical outlets.
- Make Cosmetic Updates: Update wallpaper and flooring; paint walls; upgrade light fixtures; replace cabinetry handles; install new appliances.
- Price Accordingly: Consider adjusting the price of your home based on comparable properties in your area.
Taking proactive measures such as these can be invaluable in staying ahead of the competition in today’s real estate market.
3. Your Home Is Unconventional
When a home is unconventional, it can be hard to find buyers. Fortunately, some steps can be taken to make the property more appealing and help it sell faster.
How to Fix It
Four steps to market your home’s unique features in order to find the perfect buyer include:
- Cast your home’s distinctive features in a positive light so that it resonates with potential buyers who appreciate its charms.
- To relay information about your property, utilize online real estate sites and other digital platforms.
- Consider utilizing print publications targeting the right buyers for your home if available in your area.
- Be patient: it may take some time for the right buyer to come along.
By taking these steps and implementing some of the ways to increase a home’s value before selling, you can increase your chances of finding a buyer willing to overlook any unconventional aspects of your house.
4. Your Staging Is Ineffective
Staging a home is essential for potential buyers to envision themselves living in the space. Unfortunately, ineffective staging can lead to an unfavorable first impression and difficulty selling the property. There are simple steps homeowners can take to ensure the success of their staging efforts.
How to Fix It
Maximizing the layout and design while minimizing distractions can dramatically enhance your home’s appeal, quickly turning it into a staged and inviting environment. Working with a professional stager can be beneficial to determine what repairs or paint touch-ups may be needed, as well as how to best showcase the home’s features. It’s important to remember that effective staging is not about adding excessive decor but rather creating an inviting atmosphere that will draw potential buyers in.
5. Your Curb Appeal Is No Good
The front of your house is the first thing potential buyers will see. Anything lacking in the curb appeal could turn buyers off before they even have a chance to see the inside of your home, but at least there are several easy fixes.
How to Fix It
To make your home stand out and attract buyers, you’ll want to enhance your landscaping and give it a fresh look. Start by ensuring lush green grass, planting colorful flowers, and repairing any weathered or broken elements on the exterior of your home. Painting your front door in a charming color can also help create an inviting entrance that draws potential buyers. These simple upgrades don’t have to break the bank; they must be done right for maximum impact. Consult with a professional landscaper or contractor if necessary to ensure all efforts are well-executed.
6. Your Listing Photos Aren’t Professional Quality
Investing in professional photography for your listing is one of the best ways to ensure potential buyers are attracted to your property. It will help you showcase your home in the best possible light and increase the chances of generating interest and inquiries.
How to Fix It
Consider investing in professional photography and other digital media assets to enhance the presentation of your property online. Professional photos that capture the features and highlights of your home can make a huge difference when it comes to attracting potential buyers. Investing in such services can be relatively affordable, especially if you work with local photographers or your agent covers the cost from their commission. It is also essential to consider additional options, such as a video listing or 3-D walkthroughs, which can significantly improve the visual appeal of your listing and help differentiate your property from others on the market.
7. Your Home Needs Expensive or Time-Intensive Repairs
There are ways to sell a home that needs repairs, but whenever possible, making them prior to selling is the best move. You don’t want a potential buyer to feel overwhelmed by the thought of all the repairs they’ll have to make if they bought the house.
How to Fix It
Take action to make your house more appealing and attractive to buyers. If you choose to tackle repairs yourself, be sure you have the right tools and skills for the job and any permits or licenses required by local regulations. If you hire a contractor, get multiple bids from different contractors and read reviews before selecting one. Ensure they are licensed and insured so that you’re protected if anything goes wrong during the repair process.
Budgeting for repairs is also essential when trying to sell your home. Research materials prices in advance and create an itemized list of what needs fixing to properly plan out how much money should be spent on each repair job.
Troubleshoot to Sell
Deciding on the sale of your home can be a difficult and frustrating process. Many homeowners ask why their house isn’t selling, but now you have an answer. The most common reasons are price, timing, and staging, which can be easily improved. Doing so will help ensure your property stands out from the competition and attracts buyers quickly. By taking proactive steps now, you can ensure your house sells fast and for top dollar.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
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