Why Your Home Hasn’t Sold
Why Your House is Still on the Market
This can be especially frustrating, when you’ve completed all the necessary actions to sell your home. Here are some possible reasons that your home still has the “For Sale” sign in the yard.
You’re Shooting for the Moon
To put it bluntly..you’ve listed it too high. It is said by real estate experts that every house can sell if the house is priced correctly based on the market, and the neighborhood. If you want to sell the house quickly, the best strategy is to keep the price lower early on, wait a few months, and lower it again. Compare your home to others in your area that have been sold recently. This is because what homes in your area sold for in 2010 are not going to be the same today. Whether the numbers were higher or lower than they are now, they still won’t be the same. Your realtor and appraiser will be able to determine the correct number, as many factors go into the price of a home besides what it looks like aesthetically, and how “nice” it is.
Bad Choice in a Realtor
Another reason your home hasn’t sold is that you didn’t do a great job in choosing a real estate agent. When looking for an agent, watch out for signs like poor communication, dishonesty, or lack of knowledge. Some agents have more listings than they can handle, and don’t pay attention to yours. Especially if the other listings they have are of higher value than yours, as you can bank on the fact that your home will not be a priority to them. Be sure to ask your agent what other properties they currently have listed to get an idea of how much time they’ll be dedicating to yours.
Open communication with your real estate agent is paramount to when, and if your home sells. This personality trait in a realtor should be non-negotiable. If you can tell that they are non-communicative, move on and get another realtor.
Your House Isn’t as Valuable as you Think it is
Understand that your clients do not see your home the way you do. You may think its the best house in the neighborhood, but their opinions on the home are not based upon memories in the home like yours. Sellers often have an emotional attachment to the house, leading them to believe their home is worth more than it is.
Do not misrepresent, or tell “white lies” about your home. The truth always comes out. You will run a buyer off when they find out you’ve lied about anything from the stove to the mold in the basement. If you are honest from the beginning, some of the problems you hid could be negotiated. A bad realtor may do this too; you must find an honest realtor who possesses a strong sense of ethics. Do not exaggerate anything in your listing; tell it like it is.
Do not try to sell your home when you are currently doing any substantial or minor work on your property. Buyers are looking to purchase houses that are already completed. Curb appeal is essential to selling a home, and not every buyer possesses the creativity to envision the home without a dumpster or a tractor outside.
Little to No Online Advertising
This is almost inexcusable. It should be obvious that buyers now look for homes online these days. Most people at this point are very familiar with sites like Trulia and Zillow. Your home should be listed on all of these big sites. Equally, if not most important, make sure your listing has photos. If you don’t plan to have photos, don’t bother listing it until you do.
Wrong Time of Year
You need to know what season to list your house. All categories of people such as retirees, families, young couples, singles, and newlyweds all purchase homes at different times. You must determine which demographic your house falls in to, and list it at the times that those groups typically buy. Of course, anyone in any demographic may want to buy your home at any time, so that is impossible to predict. But sometimes, you can have a decent idea. All the same, timing and price are just as crucial.