Can we get real for a moment? We can? Good, I thought you might say that. Especially since you just clicked on the link that brought you here. You’re here to find out why your home isn’t selling.
But first, I must warn you that this isn’t going to be fun. I’m sure you are very frustrated and exhausted because after all this time your home still hasn’t sold! I understand. I know how maddening and stressful the process can be. Especially, if your agent didn’t set appropriate expectations from the start.
Never fear. It’s not the end of the world. You’ll get through this and learn how to never experience the same thing again.
So let’s get started! After a dozen years of experience, I’ve found that these are the Top 6 Reasons Why Your Home Isn’t Selling.
#1 “You priced your home too high.”
I hope it wasn’t your Realtor that overpriced your home. Good agents will find the best comps and use those to determine current market value. Then, pricing the home right is simple!
Most of the time a home hasn’t sold because it’s simply overpriced and no matter how great the house is… no matter how wonderfully staged or all the rest, it simply won’t sell. Price is king and if the price is too high, the house will sit. Seriously.
While we’re on the topic, don’t fall for the failed “we’ll price it high from the start because we can always drop the price later” strategy. Common sense says this might work but in reality, it rarely does. Far better to price it right from the start.
#2 “Your home is cluttered, dirty, outdated, or all of the above!”
Homes sell all the time that are outdated. It’s not what buyers want but if the price is low enough, a portion of today’s home buyers will consider a fixer-upper.
If the home is, in fact, dirty it’s really just a bad move. Cleaning is simple and should be done for every… single… listing. Don’t skip this one. Ever.
For one person, clutter isn’t bad, and might actually feel “homey” to these folks. But the vast majority of home buyers won’t like it. Less is more when it comes to items in a space. Choose fewer, nicer items to make the best impression and as an extra benefit—the space will feel much larger!
#3 “Your listing agent is bad, just plain bad.”
It’s common sense. Not all real estate agents are equal. Just like not all teachers, or doctors, or basketball players. Some are incredible! Most are average. And sadly, some are just plain bad.
The Realtor’s job is to promote your home in such a way that people will really want to see it in person. If your home’s listing looks terrible this isn’t going to happen. No showings? No offers… no sale.
The purpose of the listing is to get showings. If you’re not getting showings, that’s the agent’s fault. It may be time to fire your agent and hire a better one.
#4 “The style of your home isn’t what people are looking for today.”
Depending on your home’s attributes, your home may be exactly what buyers are looking for. But if your home isn’t selling, there may be a problem with the style of your home.
Most characteristics of your home can be modified, updated to match people’s current tastes. A strong Realtor will know which updates make sense for today’s buyers. Don’t believe the “data” being circulated that a seller will never get 100% or more back from what they invest in updating. It’s simply not true. Many updates will net you far more than they will cost you.
It’s your Realtor’s job to get as much feedback from your showings as possible. What is especially important is the negative feedback. If multiple people find the carpeting in the master bedroom “horrendous” then that is something you should likely correct.
#5 “You are turning down showing requests.”
When it’s a hot market for home buyers, they want to see your home when they want to see it. They don’t want to wait for an open house. They don’t care if you have a big party scheduled. If you want to sell your home, you should 99.9% of the time approve all showing requests.
Ultimately it’s your call. This is something where the owners call the shots. But if you repeatedly tell your agent that their home can’t be shown to a prospective buyer who particularly requested a showing, it’s clear that selling your home isn’t actually a high priority.
#6 “The house has an inherent flaw.”
Sometimes it’s just not your fault. Do you have a railroad track directly behind your house? Is there a nearby power line that dominates everything nearby? Does your home not have a basement when every other home in the neighborhood does?
These are major flaws that will almost certainly make things more difficult to sell your home. I didn’t say impossible! But certainly, these obstacles will chase off a number of potential buyers who otherwise would love to buy your home.
An expert Realtor will take all of your home’s attributes into consideration when determining your home’s current market value. So make sure to price it appropriately—flaws included. Buyers get the whole property, warts and all.
Hopefully, this article will help you better understand why your home isn’t selling. But more than that, I hope it will point you (and maybe your Realtor too) in the right direction to make changes and finally get it sold! After all, that’s the goal and we all want you to reach your goals.