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2016-09-16 15:42:20
Why is my Home Not Selling?

Oh boy, another week has gone by and there is still no offer on your home. If the house has been on the market for some time, it is easy to become frustrated and anxious.

On the other hand, perhaps you aren't doing all you can to get the home sold.

Here are some reasons your home may not be selling:

  1. Price

Overpricing is the number one reason a house will sit on the market. Maybe it's time to re-evaluate your price. Have any homes sold since yours went on the market? Find out the sales prices of comparable homes. If they sold for less than what you are asking for yours, it's time for a price reduction. Adjusting the price can give you the boost needed to attract more buyers.

  1. Condition of the home

How does your home show? Take a weekend afternoon and tour the competition. See how your home stacks up as far as condition and presentation.

Try to find ways to make your home more desirable, whether that entails new paint and carpet or simple things like new drawer pulls in the kitchen, it will be worth the money spent if it helps to sell the house.

You might also think about hiring a professional home stager. A recent study has shown that a professionally staged home will spend 80 percent less time on the market than a home that isn't staged. Not only that, staged homes sell for 6 to 10 percent more money than non-staged homes. Overall, the study found that home staging pays for itself.

If you are unwilling or unable to make the condition comparable to other homes near you then your best bet is to reduce the price.

  1. Flexibility is the Key

Yes, it’s a hassle to have to everything to leave the house when an agent wants to show your home to prospective buyers, but it’s necessary. If you’ve placed showing restrictions on the home, such as that agents must call for an appointment first or that the home can only be shown during certain hours, you’re draining your buyer pool.

Try to keep in mind that there are slow times in even the hottest of markets. If you've made sure that you've priced the house properly, it’s in terrific shape and you’re Gumby when it comes to showings, try to relax and give it a little more time.

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2016-09-16 16:23:17
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The Essential Real Estate Glossary

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