Most home sellers want three things when they list their home: to sell it quickly, with minimal effort, and for a large profit. However, selling a home is not always simple, and homeowners who try to sell their property themselves or receive bad advice can end up with a property that hasn’t sold for months. If this sounds like you, don’t worry. We’ve outlined the top five reasons why a home doesn’t sell and the steps you can take to overcome each issue. If you’re not already working with an agent or your listing has expired or been withdrawn, contact us for a free, no-obligation assessment.
- BAD TIMING: If your home hasn’t sold after several months on the market, timing could be a factor. Economic factors like interest rates, affordability, domestic growth, and the unemployment rate can impact buyer demand. Seasonal factors like weather and holidays can also affect buyer activity. If you suspect timing played a role, consult with a knowledgeable real estate agent to determine how long your home should take to sell in current market conditions and help ensure that your asking price is competitive.
- INEFFECTIVE MARKETING: If your home didn’t get many showings, you may need a new promotional strategy. Check your listing description and photos to make sure they highlight your home’s most desirable features and reach the right audience. Consider working with a skilled professional with a proven marketing approach to increase your home’s exposure.
- POOR IMPRESSION: If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property. Take a look at your home’s structure and systems, curb appeal, and interior cleanliness and depersonalization. Consider staging techniques to help buyers envision themselves living in the space.
- PRICE IS TOO HIGH: If your home sat on the market for months without an offer, then your asking price needs to be reevaluated. Consult with a knowledgeable real estate agent to determine a realistic asking price for your home given today’s market conditions.
- YOU HIRED THE WRONG AGENT: Not all agents have the skills, experience, instincts, or local market expertise to devise a winning sales strategy in this challenging market. If you chose not to hire a listing agent at all, consider the risks and research that suggests that homes sold by a professional generally sell for more. Contact us for a multi-step Property Marketing Plan to help you sell your home for the most money possible.
Questions? Contact me for free consultation.
