If you have had your home on the market for several months and haven’t seen much activity or any offers, chances are that one or more of the reasons are to blame. Find out how price, condition, accessibility, and marketing may be hurting your home's sale.
Your price is too high
No doubt about it, the most common reason for a home not selling is that the asking price has been set too high. The reasons for setting your price too high, to begin with, are many. Ranging from over-enthusiastic listing agents to unrealistic seller expectations. Regardless of the reason though, if you’ve priced your home too high, you’ve set yourself up for a number of obstacles to selling your home. Even if you do get an offer for the overly high asking price, the deal may fall apart before closing because the buyer may have problems financing at too high a price. Look at other homes for sale, ones as similar and as close to yours as possible. If they are going for less than you are asking, you may be priced too high. The fact is, your home is competing against those other homes, and what buyers are willing to pay is what will determine final sales prices. I will fight for the best realistic price possible and set you up for success by utilizing Comparative Market Analysis (CMA) to ensure you are getting the best value for your home.
The condition of your home
There is a lot of competition out there to sell homes. Your home has to compete against other similar homes for sale, as well as compete against shiny brand new homes. The more you can do to make your home look appealing to a buyer, the better your chances for a quick sale. Look at your home with a critical eye – put yourself in the buyer's position. A buyer doesn’t want to have to do anything except move in. Your best “bang for the buck” in improving the condition of your home are paint and flooring. Make sure that all of the paint is in great condition, both inside and out. Repainting doesn’t cost too much, and will usually make the biggest impact on buyers. Make sure all of the floorings look good too. You may want to consider putting in new carpet. Again, it’s not that expensive but it sure does make an impact on buyers coming to look at your home.
Your marketing campaign is out of steam
The best listing agents all use an aggressive marketing plan to market their listings. If your listing agent isn’t making sure your home can be found easily on the internet, isn’t actively touting his or her listings to other agents in the area, isn’t running ads in the local newspapers and real estate publications, then it might be time to change agents. If all your agent has done is put a sign in your front yard and add your home to the local MLS, then that agent isn’t coming close to doing all that can be done to effectively market your home.
Your home isn’t easily accessible
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them. The lockbox is a device that holds a key to the home, that only qualified local agents can access. Homes that are listed as being “lockbox, no appointment needed” will get shown more often than homes listed as “agent has a key, call for an appointment”. If at all possible, you should let your agent put a lockbox on your home for easier showing. If not, you should do anything else you can to make it as convenient as possible for agents to show your home.
As your real estate advisor, it is my job to do everything in my power to ensure you sell your home for the best price possible. I will do everything necessary to effectively market your home!
When it comes to reasons a home isn't selling, “If it's not condition, it's always price,” says Simpkins. “And in fact, it's usually always price.” Homebuyers pay attention to overpricing.What makes a house attractive to buyers? ›
Opt for neutral colors and decor.
Make your home more welcoming to more potential buyers by repainting the walls with neutral colors, and consider putting some of your favorite art pieces, antiques, or sports memorabilia into storage. Even if you have great taste in design, your prospective buyers might not agree.
Your property value is often out of your control. Changes in the real estate market can lower the value of your home. Natural disasters and climate change can lower your property value because the property is a greater risk to purchase. Foreclosures in your neighborhood can also drive down property value.Why am I not getting any viewings? ›
Why am I not getting any viewings on my house? The most common reason why home sellers aren't getting any viewings is that their property is not priced correctly. The best guide for the amount you should ask for, is the local market. What price are other properties nearby currently advertising at?What makes a house unsellable? ›
Factors that make a home unsellable "are the ones that cannot be changed: location, low ceilings, difficult floor plan that cannot be easily modified, poor architecture," Robin Kencel of The Robin Kencel Group at Compass in Connecticut, who sells homes between $500,000 and $28 million, told Business Insider.What affects the sale of a house? ›
A home's value is affected by local real estate trends, the housing market, the home's condition, age, location and property size.What are the 3 most important things when looking to buy real estate? ›
They say the three most important things to think about when buying a home are location, location, location. You can change almost everything else, but you can't change your home's location.What is the secret to a fast sale of a property? ›
Price It to Sell
One of the most effective ways to sell your home fast is to price it competitively. If you price it too high, you detract prospective buyers and price out potential bidders. In addition, it may take longer to settle the negotiation process if prospective buyers want your price to come down.
Make Your New Home Stand Out
Put effort into landscaping and repairs, invest in outdoor décor and a new paint job, and prepare buyers with a welcoming entry. Finally, photograph it all to help buyers choose your house. Just remember that details matter – even street numbers.
Property valuation primarily takes into account recent sales of comparable properties in the area. Key identifying factors are the same square footage, number of bedrooms and lot size, among other details.
- It's important to every homeowner that their property retains its value. ...
- 1) Poor workmanship. ...
- 2) An increase in crime levels. ...
- 3) A substandard kitchen. ...
- 4) Noise pollution. ...
- 5) Uninspiring exterior. ...
- 6) How silent are the neighbours? ...
- 7) Not energy efficient enough.
Check the price
If a property is getting no viewing interest at all, then the first place to look for an answer is the asking price. Compare the property with others for sale around it and see if it compares favourably, if not you need to think about a reduction.
There's a range of factors that will affect how interested people are in making an offer or buying your home. In most cases, however, it generally takes somewhere between 10 and 25 showings to sell a house.Why am I losing views on Zillow? ›
The "views" and "saves" (seen next to Time on Zillow) are numbers you want to be high—but they are not cumulative for the time the house is on the market. They only show views and saves made over the previous 30 days. So don't be shocked if those numbers actually go down over time.Is it possible for a house to never sell? ›
If a home stays on the market, the chance of it never selling is low, but a long selling time can happen, and this often causes a homeowner to pull the home off the market. Remaining in the real estate market for a long time is not ideal. The longer it sits, the less demand there is for the home.Why is it so hard to sell a house? ›
Rising mortgage rates, as the current market is experiencing, often mean fewer buyers and a smaller pool of buyers who can afford the price you want. Selling a home isn't free, so if you can't maximize your price, you might decide to wait.What happens when there are no sellers in the market? ›
As due to no supply (of shares), demand rises and buyer will start bidding with higher prices.What is the most common reason a home fails to sell quizlet? ›
The most common reason a home fails to sell is: It requires a mortgage for validity.