Why is my home not selling?
This is a question that is top of mind if you are a home seller that has had your home on the market for some time and are starting to despair and wonder why no buyers are submitting offers. There are many reasons that homes don't sell.
The first thing you should do is talk with your real estate agent in order to get specific on why your home is not selling. Review feedback from agents and buyers and see if there is a common thread?
Here are some tips to making sure your home gets sold:
•· The most important thing is to make sure your pricing is in line with the rest of the market. If your home is overpriced both agents and their buyers will know it. Many qualified buyers may miss your property altogether as they may not be looking at a higher price range or will not submit an offer if they think your property is too overpriced.
•· Really look at how your home presents itself to potential buyers. Hire a stager, many will do consultations for as low as $100-$200 and will waive that fee if you hire them to do the entire job. In many cases a consultation may be enough for you to incorporate their ideas and make your home much more desirable to potential buyers.
•· Is your home accessible to buyers? Can agents show it on short notice? This may create some short term inconvenience but may be what allows you to get your home sold.
Getting your home sold is a collaborative effort between you and your real estate agent. It is your agent's job to market your property, collect feedback and make sure that as many agents and buyers are seeing your home. It is your job to make sure you are keeping the house clean, providing timely access and pricing the property with the market.
Price.
Ease of Showing ("Day Sleeper, Guard Dog, No Electronic Lockbox, Alarm System, 24 Notice, Agent Must Accompany, Tenants must be Contacted First")
Appearance from the Exterior (an un-mowed cluttered yard = a dirty interior).
Marketing: Crummy MLS Listing with Poor (or no) Photos, lack of Internet Exposure, etc.
Seriously Upside Down Seller with no Ability to Bring Shortfall (Cash) to Closing.
Price is definitely the main issue in selling a home in a downward trending market.
Price is key, but if showings are difficult to arrange and the house doesn't show well when buyers do come through - it's never going to sell.
Well said. Price, condition and marketing are the key. Agent only controls one of the big three.
Good Morning Ana, good input for sellers to consider when their home has been on the market for a long period.