What Happens if My House Doesn’t Sell?

Not Receiving Offers Can Be Frustrating

When most people put their homes on the market, they want to sell the property and move elsewhere. Selling your house can be time-consuming, but it can also be discouraging if your house doesn’t receive enticing offers after many months of listing.

Unfortunately, the longer a home sits on the market, the less money a seller may get from an offer. However, there are many reasons a home may not sell quickly, and you may need to change a few tactics to find the right buyer.

Below are reasons why a house may not sell and how to fix your strategy to receive offers!

Your Listing Price Is Too High

Pricing a home can be challenging because it involves many moving parts. Determining what a potential buyer might pay for a property involves looking closely at the current market trends and considering price adjustments to your home based on competitive differences.

It can be helpful to look at current listings in your area and previously sold properties to get an idea of the average price. People often think of their homes as worth more than what a buyer would pay, making selling difficult.

It’s best to listen to your realtor when pricing your property. If you attempt to sell your home based on what you think it’s worth and aren’t receiving any offers, you can always lower the price.

You Need to Address a Problem

If you’re showing your property to many buyers, but no one is making offers, you may have a problem that needs to be addressed. Get feedback from an open house by asking people “what needs to change within this home to make you want to buy it?”

If you continue getting the same feedback, you should listen to their complaints. Perhaps it wasn’t staged well enough, and prospective buyers think the home feels too dark, or maybe the place feels too cluttered. Minor cosmetic issues may not be a big deal to you, but they can make a huge difference during a home sale.

While you may not always like what you hear, this feedback can help your house sell instead of sitting stale on the market!

You Missed Peak Market Selling Time

Sometimes there is nothing wrong with your listing price or home– there just aren’t as many buyers looking to move when you put yours up. The housing market is like the stock market in that it is ever-changing and unpredictable, but there is a pattern to high and low selling times based on seasons. June and July are huge months for home sales, while December-February is less likely to have many interested buyers looking around.

You should put your home up for sale whenever is most convenient for your lifestyle, but keep the peak market times in mind based on your location and when lulls are more likely to occur. If you list your property during a housing lull, you may have to be more patient before finding the perfect buyer.

Get Help With a Home Sale Today

There are many reasons a home may sell slowly. Perhaps the price is too high, you’re selling at a low market time, or you need staging help. If you’re struggling to sell your property and need help from a knowledgeable realtor, contact Linda Moore today!