Unless the market is going through a dry spell, it’s not common for a house to remain on the market for more than a year. Considering the fact that in most American cities the supply of residential properties fails to meet the demand, most homeowners conducting a smart selling strategy should not experience any particular difficulties in finding potential buyers and finalizing the deal within a few months after the placement.
But what if your house has been on the market for a long time while other similar homes in your local area are selling quite well? What the owner is supposed to do when potential buyers come for the showing, but none of them commit to the purchase? There’s only one thing that may be more frustrating than waiting for your property to get sold and it is the buyer pulling out of the deal the last moment. But why your home doesn’t attract potential buyers interested in the purchase?
These are the factors that may have been decreasing your chances to sell a house and dragging out the showing period for too long.
Top 7 reasons why your house is not selling
1. You’ve set an unrealistic price
Obviously, sellers want to reach the best deal and receive as much money as possible for their homes. Additionally, when deciding on the price, they bear in mind the negotiation process and understand that they’ll have to drop the price anyway. Hopefully, the higher you start, the higher the compromise price will be, right?
Well, if the price looks unreasonably high for the home’s value, most people won’t even consider negotiating. They’ll just move on to the next showing (if they come at all, of course).
2. Your home looks too worn out
There’s an impressive bunch of people who don’t mind committing to a ‘project house’ and remodeling it up to their taste and needs. But most buyers aren’t ready to make a lifetime purchase just to spend more money to make it suitable for living.
Therefore, if your house looks too outdated and beaten up, you’ll either have to hire remodeling contractors to spruce it up and increase its value or drop the price till the offer becomes too attractive to say no.
3. You’ve taken unappealing pictures
Most people shop for houses online, and the pictures of your house on the online listings are going to make the first impression on prospective buyers. That’s why you need to take high-quality, high resolution pictures that showcase your house in a flattering way, demonstrate its selling points and make the clients want to arrive for a showing.
It’s also important to post enough pictures of both interior and exterior, as well as your backyard, because most buyers don’t end up spending their time on visiting homes and contacting owners if they don’t see enough persuading pictures.
4. You didn’t commit to home staging
Home staging is one of the key elements of residential property selling strategy smart owners and real estate agents apply to prepare the house placed on the market for showing. All furniture, decorations and personal things are arrange in the way to make the house look as attractive and inviting to the prospective buyers as possible. All selling points end up highlighted, most flaws – hidden from the visitors’ eyes.
Professional home stagers, some agents and interior designers are able to do that. But, you may get your home staged on your own as well. I’ve already written an article about home staging secrets, so feel free to visit my profile page and check it out.
5. You didn’t get your home cleaned
Messy homes with a lot of personal things aren’t selling that well. They just don’t speak to the buyers’ hearts, as the clutter, personal belongings and pictures don’t let them see the true value of the house. That’s why it’s better to hire professional house cleaners and get your home picked up from top to bottom.
Try to pack as much personal things as possible as well to make the house seem ready and waiting for a new owner to move in.
6. You’ve stayed for a showing
It’s your hose by far, and you have the full rights to stay there while the prospective buyers come to view it. However, most people feel quite uncomfortable walking through someone’s home and judging it at the owner’s presence. Consequently, they don’t pay enough attention to the actual house and the impression they form after visiting is not strong enough to make them think about purchasing. Totally psychological thing, but makes a huge difference.
7. Your agent turns people off
Sometimes it happens that a decently priced and well-maintained home located in a nice neighborhood is not selling for a long time. Most likely, it’s the agent’s fault. As your representative in the selling process, your agent has to be an active, engaging, sociable, but not annoying person making the buyers feel welcome and leaning them into an idea of purchasing your home.
But, some agents just don’t really care to take active steps toward that direction, and some of them just turn people off. You need to break up with your current, inefficient agent hire a knowledgeable professional with a pleasant personality you’d personally like to deal with.