Has Your Home Been Listed For Far Too Long? Here Are Some Possible Reasons That Your House Isn’t Selling, And What You Can Do To Change That
July 8, 2016
Unfortunately, many sellers either don’t want to come to terms with the fact that they are charging too much for their home, for example. In other cases, it can be due to a bad realtor that isn’t giving real feedback to the seller, or spending enough time on their client. In either case, here are some of the general reasons as to why a home has been listed on the market for a long time, and hasn’t moved.
One reason your house isn’t selling, is that you simply are trying to charge far more than your house is worth. This is a tough area for sellers to grasp. Many are unwilling to lower the price when their realtor suggests them to. If you want to sell your home quickly, usually the best strategy is to lower the price of the home early on, wait a few months, and then lower it again. You should also check for what the other homes in your neighborhood have been selling for recently.
This should give you a good indicator as to whether or not you have your home listed too high. Unfortunately, sometimes the market is in such a place that the homes just aren’t selling for much, even when they are worth more. If you do not have to sell right away, it might be best to consider waiting to sell it until the market goes back up. It is never a bad idea to have an appraiser come before you list the home to give you an idea of what it might sell for.
Some realtors have many clients. If they have many listings that are listed for much more money than yours, they’ll probably put you last on the list in terms of their time. Or some just lack the knowledge of how to sell a home. Perhaps they do not know much at all about the market, how to negotiate, or lack people skills.
Open communication with your realtor is crucial, as real estate is the business of people; you must be a people people person. On the opposite spectrum, it could be that your realtor is not returning the buyer’s agents phone calls. If you notice any of these problems, you should hire a different realtor.
It is important to understand that buyers do not see your home in the same light as you do. Most sellers love their home and think it is perfect. Most of the time, sellers are unwilling to lower their price, even when their agent has cautioned them that it won’t sell if they don’t. It is important to remain neutral, and emotionally unattached when coming up with the list price.
White lies, intentional or not, leave buyers with a bad taste in their mouths. Inevitably, the truth always comes out. When you lie about small things, such as saying that you have a spacious kitchen when it is actually on the smaller side. Buyers will feel cheated, and upset that they have invested their time into the home before they’ve even seen it.
It is a very bad idea to list your home whilst you are in the middle of doing any minor or large repairs to your home. Buyers want to purchase already completed homes. Also, if the home is in the middle of a re-model, they aren’t going to know what the end-result will look like, and wonder if they’ll still like the room that you are re-doing.
Not marketing the house enough is another reason. This error can be made on either your part or the realtors, you’ll both be at fault. You must ask your realtor if they have listed your home on certain websites such as Trulia and Zillow. You’re also responsible for marketing your house. They can’t constantly be tweeting about your home. You’ll have to put some work in, too.