Selling a home in any market requires patience and due diligence. From start to finish, the process often entails several steps before you can consider your home officially sold. However, if your home was listed many months ago and you still can’t seem to garner interest, consider the potential problems below!
You’re Charging Too Much
It may seem obvious, but when you’re attached to a property, there’s always a chance you overvalue it. Generally, the price based on the location and condition of your property is what buyers look for the moment they even consider making an offer.
Take the time to really research what other local properties are selling for. If you’re seeing that prices are lower than what you’re charging, it’s time to lower your asking price!
You’re Not Marketing Your Property Well
The only way that buyers are aware that your property is for sale is if you market it effectively. From listing the property on popular real estate websites to staging it for potential viewers, it’s important to focus on an effective marketing strategy. Make sure you upload high-definition quality photographs of your home and it is free of trash, clutter, or anything that may otherwise diminish its value.
When planning to take photographs, make sure to present your home from all angles. Potential buyers want to know everything and shouldn’t feel cheated when they schedule a showing. Take a look at what other sellers are doing in your area to get people interested in their properties.
You Didn’t List At The Right Time
When it comes to real estate market fluctuations, timing is genuinely everything. Sometimes, the reason a property isn’t selling is because the market has shifted to a buyer’s market. Real estate is a volatile investment and seemingly overnight, things can tip the balance when trying to sell your house.
The problem generally lies in the potential for too many properties for sale and too few buyers. A buyer’s market can make it nearly impossible to sell your property without taking a significant financial hit.
A good tactic to use in a buyer’s market is to delist your property. Leave it offline for a few weeks to get rid of some of the competition and also to make your home look like a fresh listing when you relist. Some buyers automatically shy away from purchasing homes that have been listed for a long while.
You’re Not Communicating With Your Real Estate Agent
Chances are, you’ve hired a real estate agent to get as many eyes on your property as possible. However, one major mistake that many sellers make is assuming that everything should be left up to their agent. The fact remains that if your agent is less than enthusiastic about your property or has feedback you tend to ignore, you may have trouble finding a buyer.
In short, remain in communication with your real estate agent and ask them to pass on any feedback potential buyers had about your property. It can also help to have a friend or a family member give you some feedback about the state of your home. There’s a chance you may have missed something that you’re too biased to see.
You’re Ignoring Basic Viewing Etiquette
You may choose to stick around for showings of your property, and that’s a good thing! A courteous homeowner can really help sell a stale listing, but you need to be careful. Never push potential buyers through your showing quickly or force them to focus on aspects of the home they don’t care about.
You also need to have the available space in your schedule to show your house. If you’re always too busy, buyers will simply walk and buy another property. It’s advisable to avoid placing too many restrictions on your showings as it can instantly annoy potential buyers.