Top Likely Reasons Your Home Isn’t Selling
So, you're excited to start a new adventure in the home of your dreams, but your current home is struggling to sell. If this is the case, then it's time to take a look at your efforts and make some changes, especially if your home has been on the market for more than a month or two. Many factors can cause your listing to become stagnant on the market, so let's take a look at a few common reasons below.
Your Price is too High
Despite what most home sellers wish, the market dictates how much you'll get for your home regardless of what you think it's worth. The majority of buyers will be looking at comparable properties in your area and weighing your home and price against the rest. So, if your asking price is way higher than listings similar to yours, it will only hurt you. Remember, your home is only worth what buyers are actually willing to pay for it, not what you believe it’s worth.
Time to Rethink Your Staging
No matter how much you love your family photos and long, red curtains, staging your home to appeal to the general buyer can be very important. In fact, a survey conducted by HomeLight revealed that 67% of agents agree staged homes will sell for at least 1%-5% more than non-staged homes and 83% of agents reported that staged homes get snatched up by buyers quicker than those left alone. The more you can help a potential buyer picture themselves living in your home with their stuff, the better.
At the end, it all comes down to finding a balance. You don't want to have a vacant home as it can make envisioning the home's potential a lot harder for buyers, but you also don't want to keep your home crammed full of your own belongings. Find the balance between not enough and too much, and in turn your home will show better to potential buyers.
Most of the time, the first thing buyers see when coming across your home is the pictures on your listing. When looking at a listing, buyers want to get a good idea of what a home has to offer before scheduling an in-person tour, especially during today's circumstances with COVID-19. If you don’t have any photos, few photos or they're low quality, it's a huge red flag for most buyers, increasing the chance of them passing up on your listing. Take the time to gather enough quality images and your home may receive more viewings.
The Timing Isn't Right
According to Business Insider, most people are house-hunting in the spring, summer and early fall rather than in late fall and winter. The main reason for this is simply a matter of convenience. Traveling from house to house in the snow and freezing temperatures seems like the worst and even if a buyer finds a house they like, no one wants to move in at that time, hauling boxes across snow and ice.
Although the winter is not the most ideal time, it's not completely impossible to sell your home as long as you consider the season. You can improve your chances of a sale by offering incentives, like a credit towards moving services, or targeting buyers who are in a similar situation timeline as you.
Not the Right Agent
A simple answer to why your home isn't selling could be that your agent isn't the right fit and could even be turning people away. Your agent is your number one representative and needs to have the right knowledge and skills to get the job done. If this is the case for you, our agents are ready and waiting to help you get your listing sold! Visit our Contact Us page or give us a call at (817) 717-6036 to get the process started.