Reasons why homes don’t sell If you have had your home on the market for several months and haven’t seen much activity or any offers, chances are that one or more of the reasons below are to blame.
7 Reasons Homes Don’t Sell
Price
The most common reason a house remains on the market is because the asking price is too high. It is difficult for people who have lived in a home to understand what it is worth on the market, after all it’s worth far more to you because of sentimental reasons. To avoid making this mistake try looking at other homes that are for sale, especially ones that are similar to yours or even in the same neighborhood. If those other houses seem to be selling for less than your asking price, chances are you’re asking too much. Don’t forget that buyers tend to have a price range in mind when searching for their new home and if you are asking too high a price they may not bother come to look at it.
Condition
Your home is competing with every other home on the market. This means it is not only up against similar homes but may even be competing with brand new homes. It is vital, then, to make sure that your home appeals to potential buyers. A new coat of paint and new flooring are often the easiest and most eye-catching way to update a home. Keeping the home clean also helps. This way the potential buyers can imagine what the home would be like if they lived there instead of spending the time looking at dirty dishes or toys on the floor.
Location, location, location
We’ve all heard this before but it is still true. Neighbors, schools, crime rates, noise levels, pollution and even the visual appeal of your neighborhood can effect how desirable the location is. If your home is in a bad location then a reliable and responsible Realtor, like Steve Harless, can help with ideas to help minimize some of the negative issues by suggesting improvements to your property. It can also help by lowering the asking price. It shouldn’t come as too much of a surprise that a house in an undesirable area will not be worth as much as one in a highly desirable area.
Ineffective Marketing
Finding the right real estate agent isn’t as easy as it might seem. If your agent isn’t making your property easy to find on the internet and you aren’t getting any response from other agents it may be that your agent isn’t doing enough. It might be time to call on an agent that understands that marketing isn’t just putting a sign in your yard and listing the house in the MLS. Your home should be getting all the help it can from your agent, from internet marketing to running print ads as well as promoting the listing to other agents. Some might even run radio and television spots to help sell their listings. Make sure that you and your agent discuss in advance the plans for marketing your home. The right marketing can make all the difference.
"The Market Is Slow"
It’s called a lot of things, a slow market, a buyers market and sometimes even a cold market. It all means the same thing. There are too many homes for sale and not enough buyers. There are several things you can do to help your home sell during a "slow market". One of these is to lower your asking price. Often people will look twice at a home that is lower than others in the area simply because they feel they will be getting a better deal. Offering to pay concessions, including closing costs, may attract buyers that might not have a lot of cash. The best is of course to wait it out, but not all buyers are able to do that.
Accessibility
It is vital that agents be able to show your home to potential buyers. After all, how else will they know whether or not it’s the home for them? This becomes difficult, however, when sellers make it hard to access their homes. One of the easiest ways to make sure your home is easily accessible is by having a lock box on the door. The lock box holds a key that only a qualified local agent can access, without an appointment. Not everyone is able to have their home available at all times and if that is your situation then make sure you work with your real estate agent to find ways to make sure that it is as convenient as possible.
Personality Conflicts
As silly as it seems, having a real estate agent that is not liked in the area could keep you from selling your home as quickly as you would like. Buyers agents search for homes to show to prospective buyers. They often make a list of several homes. If one of those matches is listed by an agent that is difficult to work with then sometimes that house isn’t shown. Get to know your agent and try to get a feel for their personality. Agents like Steve Harless know that you have to treat not only your clients well, but other agents too.
