We’re currently in what’s described as a seller’s market across much of the country. While demand has waned a bit in the fall of 2020, inventory is still limited, and the real estate market is strong.
While that may be what you see in the headlines, perhaps it’s not what you see in reality if you’re trying to sell a home.
There are some common reasons, many of which are avoidable, that may be why your home isn’t selling.
It’s Priced Too High
This sounds simple, but still, homes continue to be priced too high. One of the biggest challenges sellers face, according to real estate agents, is resisting the urge to overprice their home. Pricing a home is an art and a science, which is where agents are so valuable.
However, you have to listen to your agent.
When you have an emotional connection to a home, you’re even more likely to price it too high.
If you priced your home yourself, it’s a good idea to consult an experienced agent sooner rather than later.
You can also gauge what people think about your price by looking at other local listings or listening to people's feedback at open houses and showings.
Your Home Is Unique
A unique home can be a great thing, but that can also make it more challenging to find a buyer. If your home is unique, that doesn’t necessarily mean you need to change anything to sell it. You might just need to be patient and wait for the right person to come along.
You might need to shift your marketing strategy a bit as well. Reframe the unique elements of your home to be benefits. Your marketing needs to be carefully tailored to that audience of people most likely to be interested in a unique home.
The Order of Your Photos is Wrong
When people browse apps and websites for homes, they’ll usually only see the first photo initially. Then, they have to decide to click through to the rest actively. What is the first photo of your listings conveying and could it be better?
Don’t use the front of your home as the first picture. Buyers have a short attention span, so choose the best interior photo. Then, the next four photos need to be equally impressive because once people get to the fifth photo, they’re likely to start losing interest.
Also, your photos may be bad altogether. A home needs to be staged, cleaned, and ready for great photos. You also need a professional real estate photographer. Overcome the urge to want to rush to get your home on the market. It’ll pay off to wait until everything is ready, including the best possible photos.
Lack of Accessibility for Viewing
As a seller, some things aren’t in your control, but many things are. When buyers want to see your home, they need to be able to as soon as possible. You want your home to be available for anyone interested to see it in person. This means you keep your home clean and showing-ready at all times and that you’re flexible with your schedule.
It’s a pain at the time, but it can make a difference between selling your home and having it sit on the market.
Flat-Out Rejecting Low Offers
When you’re selling a home, and you’re emotionally attached to it, getting a lowball offer can feel like a personal insult.
Don’t shut down low offers right away.
You may end up with a successful negotiation that started with an offer that was initially way too low.
Keep all of your options open as a seller. You never know what might happen.
Finally, not selling a home can sometimes be an issue of timing. For example, spring and summer tend to be better times to sell a home. Fall and winter are the worst times.
There are also larger economic issues that can impact whether or not you sell a home, and if you have an option, you may need to wait. If you can’t wait, even if you sell your house, it could end up being for much less than you hoped, if timing is a factor.