Why is My House Not Selling?

Maybe you thought selling a home would be an exciting prospect, but now you’re just feeling stuck… it’s competitively priced, sure, but it’s been sitting on the market with lukewarm interest at best. Now frustration is setting in. However, there could be several reasons your home may not be selling, even in a strong seller’s market.

If you’re struggling to sell, here’s why and how you may be able to turn things around in your favor.

Overpricing

The #1 reason most homes linger on the market is pricing. If what you’re asking for is too high compared to other homes, savvy buyers might skip your listing altogether. Homes that are priced right from the get-go tend to sell faster, finding buyers within the first 30 days!

What You Can Do:

  • With the help of your realtor, consider doing a comparative market analysis (CMA) to pinpoint a competitive price to put you ahead of the pack.
  • Look into the most recent sales data in your area–not just the asking prices alone.
  • Aim to attract multiple offers instead of listing too high and subsequently lowering the price later on.

Poor Condition

First impressions can go a long way, and if your home looks outdated or needs significant repairs, it can turn some buyers away, even in a hot market. Buyers are often looking for move-in ready homes and may not want to take on significant renovation projects.

Try to be proactive and tackle minor repairs like old, faulty fixtures or worn-out flooring tiles, and stage your home in a way that already looks primed to move in.

Weak Marketing

Most buyers start the hunt for homes on their tablets or phones online. What’s the first thing they see? Photos. Zillow was informed by half of new homebuyers over the past 12 months that professional photos played a huge part in getting that all-important initial interest in a property.

Apart from maybe hiring a professional real estate photographer, take the time to create video walkthroughs and virtual tours for potential out-of-state/remote buyers. You can also utilize SEO-optimized keywords to rank higher on platforms like Redfin, Zillow, or Realtor.com.

Location

You’ve probably heard it before, “Location, location, location”–and indeed, a home’s location can impact its ability to sell, no matter how hot the market is. Homes in less desirable neighborhoods or those located near busy streets or commercial areas may be less attractive to buyers.

You may be unable to change your home’s location, but you can try promoting its unique features–is it close to a park or top-rated school? Or consider offering buyer incentives such as upgrades to the house, or cover closing costs to better sweeten the deal.

Competition

Many homes have been languishing on the market for twice as long, making competition fierce, so it’s important to make any necessary updates or improvements to make the home more attractive to buyers. If the inventory is currently high in your area, be more aggressive in pricing, or look into other marketing strategies.

If a home is not selling in the current market, it may be beneficial to work with a real estate agent or professional to identify any potential issues and develop a plan to address them.

Why Is No One Coming to My Open House?

If you’re experiencing zero foot traffic at your open house, it could be due to several factors. One of the most common reasons is poor marketing. It’s crucial to ensure that your open house is being effectively advertised to the right audience through multiple channels such as online MLS listings, social media, flyers, and local advertising.

Another potential reason could be bad timing, such as hosting an open house on a holiday weekend or a major event in the area. The pricing of your home can also impact attendance, as an overpriced home may not attract buyers. Also, the condition of your home may deter buyers, so consider making any necessary repairs or improvements before hosting an open house. 

Working with a real estate agent or professional can help you identify any issues and develop a plan to increase interest and attendance at your open house.

Why a Great Real Estate Agent Is So Important

You can try listing and selling a home on your own and twiddle your thumbs waiting for offers, but do you have any experience or knowledge doing it? This is where a top-notch real estate agent can help. Here’s why:

  1. Knowledge and Expertise: A good real estate agent has knowledge and expertise in the local real estate market, including pricing trends, neighborhood features, and the buying/selling process. This expertise can help you make informed decisions and avoid common pitfalls.
  2. Access to Listings: A good real estate agent has access to a wide range of property listings, including properties that may not be available to the general public. This can help you find the perfect home or sell your property quickly and for the best price.
  3. Negotiation Skills: A good real estate agent has strong negotiation skills and can help you navigate the negotiation process with confidence. This can help you secure the best price for your home or get the most value for your investment.
  4. Legal Knowledge: A good real estate agent has a thorough understanding of the legal aspects of buying and selling real estate, including contracts, disclosures, and regulations. This can help you avoid legal snags and ensure a smooth transaction.
  5. Connections: A good real estate agent has a network of connections in the industry, including mortgage brokers, home inspectors, and contractors. This can help you find the best professionals to work with and streamline the buying or selling process.

Whether you’re buying or selling a property, working with a good real estate agent can help you achieve your goals and make the process smoother and less stressful.

Find the Best Real Estate Agent Near Me

Avoid going through a needless, long saga to sell your home–a great real estate agent can demystify the process and get you closer to the deal you deserve. In fact, did you know that you can find a great real estate agent near you? It’s true! Take a look at what people have to say about Linda Moore and call today to learn more about the real estate market in Southern California!

Office Listings

Listing information deemed reliable but not guaranteed. Read full disclaimer.
To top ⬆