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Putting your home on the market is easy. But it can be frustrating when it doesn’t sell after all the time and effort you’ve put into the preparation. A lack of interested buyers can delay the whole process and cause the real estate listing to expire, which is every home seller's worst nightmare.
And when the current interest shown by the public doesn’t improve even in a seller’s market, there must be something wrong with your home that’s preventing buyers from giving it a second glance.
While there could be many reasons your home isn’t drawing any interest since hitting the market, some are more common than others. Here are five typical reasons your home isn’t selling, along with solutions on how to fix them.
Regardless of how valuable you think your home is or how strong the seller’s market is, the price is often the most significant deterrent for a buyer. One of the most common mistakes of home sellers is overpricing their property. Listing your home at a price above market value will discourage many prospective buyers.
Solution: To determine the value of your home, try looking at your neighborhood and similar markets to see what other homes are selling for. You need to consult with your real estate agent, conduct a detailed comparative market analysis, then make the necessary value adjustments to your home.
Listing your property on the market is one thing, but catching the attention of potential buyers is another. If your home isn’t selling, it may be because of a poor marketing strategy. When the home you’re selling lacks marketing exposure, it may not reach the right buyers. For example, relying on print ads and yard signs alone can affect your chances of selling your home and how much you can sell it.
Solution: In today’s market, most buyers use the internet to shop for homes. So, if you want to reach as many prospective buyers as possible, make sure your home is available everywhere online. Take advantage of all the social media platforms. But most importantly, ensure your listing photos or videos are of the highest quality to catch the attention of buyers.
Speaking of listing photos, they are the first thing potential buyers will see when shopping for homes. If your photos are subpar or unattractive, buyers won’t hesitate to skip your home listing and scroll to another listing.
Solution: Make your home listing stand out from other homes for sale by taking photos that would represent your home well. Angles, lighting, and how you showcase your home are all important factors you must consider. If you’re not confident with your photography skills, you can always hire a professional to take the photos instead.
Now that you caught a prospective buyer's attention with your listing photos, they might pull up to your home to see it in person. If your home’s curb appeal is low, it may discourage buyers even before they get inside. Sometimes first impressions can make all the difference whether you can sell your home or not.
Solution: Impress potential buyers by ensuring your home has proper landscaping and curb appeal. Make sure your yard is clean and groomed, repair obvious damages, or plant some flowers. You may also want to pressure wash your home’s exterior, including the driveway and sidewalk, making it more appealing to buyers.
Real estate agents are crucial factors in how quickly you can sell your home. They can help you with the pricing and how to market your property the right way. If you’re wondering why your home isn’t selling, you might want to ask yourself if you hired the wrong agent.
Solution: Finding the right real estate agent can be challenging, but these tips may help make it easier to choose:
The best agents may be a little pricey, but if they can help sell your home fast, then it’s worth it.
As a home seller, you want to sell your home as quickly as possible. But the five reasons in this article, along with many others, can cause your home not to sell. And while these reasons can be problematic, there’s always a way to correct them. You can start by hiring the right agent and letting them guide you through the entire selling process.
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