In many cities across the U.S., it’s a seller’s market. There’s a rising demand for real estate, due to a combination of low interest rates and shrinking inventory, and people want to buy. If your home isn’t selling, there’s a good chance you’re overlooking a crucial element of the home-selling process that’s getting in the way of your ability to sell it and move on. By examining the way you’re going about the process, from overpricing to poor upkeep, you’ll be able to ensure for a sell date that’s to your liking.
Here are the top reasons why your home isn’t selling:
You’re Overconfident
If you’re in a seller’s market, there’s a good chance that your home will get snapped up for premium price, no matter its condition. While this might be true for some homes, by no means is it a guarantee. By being realistic from day one and bracing yourself for the potentiality that it’ll sit on the market for some time, you’ll be able to move through the process with patience and put in the needed work without fretting about every little detail.
Your House is Priced Too High
Even with high demand, the sky isn’t always the limit when it comes to your listing price- in fact, it almost never is. You might feel comfortable pushing the price higher in a seller’s market, but you’ll miss out on prospective buyers if your home is priced above market value. Price it right and you’ll be glad you did.
Your Home Needs Some TLC
It can be tough to pay for home improvements that you may not enjoy for long, but if you want to sell for full asking price, you might need to get your house into a condition that warrants it (and not base the number solely on price per square foot). Make sure you’re able to offer amenities comparable to other properties for sale in your price range, because installing features as simple as a double-bar towel rack or a pull-down gooseneck faucet can make a big impact.
Your Home’s Title is Off
In this case, “title” doesn’t mean the cute name you might have given your place- rather, it’s the document that shows ownership. Many would-be buyers avoid particular houses due to a problem on the title that spooks them, which could be anything from a paid-off mortgage that is still showing up as a valid lien to conveyance without a recorded deed. Some title problems just require a little time to resolve, so contact the title company to find out what you need to do to prepare for selling.
Advertising Photos are Subpar
Did you know that 90% of buyers start their home search online? Many interested in buying real estate start their search online and make a decision about whether to come see your house based on a quick skim of your listing photos. If there are few or no photos, or if the photos look bad, many buyers will move on to the next listing. Get your home staged and photographed by pros- it’s worth it!
Source: Trulia