These are the three most common reasons why a home just won’t sell.
“Why is my home still on the market?” More people have been asking me this recently. Today’s market is a little more challenging for sellers compared to last year. Typically there are three main reasons why a home isn’t selling. Once you can identify your issue, you’ll be well on your way to achieving your goals:
1. The price point. If buyers are looking at your home online, a price that’s too high might scare them away from even making an appointment to view the property. Establishing your market value and listing price will be your most important conversation with your agent. Be sure that you’re considering both the location and condition of your home and comparing it to other sales in your immediate area.
Speaking of comps, make sure that the ones you use are either pending or sold to see what buyers are actually moving on in the current market. When the market is trending upwards, it’s okay to be a little aggressive, but if it’s trending downwards, you want to be a little ahead of the market and price your home just below the comps.
2. The marketing, or lack thereof. Who is your buyer? Knowing who you’re marketing to when you list your home is important. Most buyers start their search online, so consider how your home looks in pictures. A good first impression will compel a buyer to continue looking at your home. Professional photography highlighting your home’s best features can prevent buyers from scrolling past it.
Once you’ve created that great first impression, you need to know how to target your buyers. Depending on how you’ve defined your ideal buyer, this could be a local, national, or even international audience. Any social media campaigns should target those networks, as well as those of their agents.
3. The condition of your home. If the pricing and marketing are correct, it might be time to look at the house itself. Not all homes are created equal, but with a bit of time and care, every home can be made to feel special. Consider ideas like staging the home to help buyers define the space, ensuring the house is clean and tidy with no odors, doing minor repairs, and even repainting the inside. Finally, consider the curb appeal of your home by making sure that landscaping is up to par and outdoor spaces are inviting.
Hopefully, these tips will be helpful to you in getting your home sold. If you’d like to have a conversation about your home, or if you’re looking to purchase, we’re here to help. Please give me a call, email, or text us for more information.