Why Isn’t My Home Selling?
In today’s market, most sellers expect their homes to fly off the shelves — and maybe even at higher price than they’re asking for.
But what if it doesn’t?
What if it sits stagnant, week after week, month after month, without a single bid or serious buyer?
Does it mean something’s wrong? Should you pull your listing and try again in a year? Let’s take a look at a few of the reasons your home may not be selling — as well as what you can do to fix it:
The price might be too high.
This is the most likely reason. If you’re not getting bids or even a few showings, your asking price might be off. Have your agent pull some new comparable listings to see what other homes in the area are going for. Make sure they’re homes with similar features and space, and take a look at how long they took to sell. How do your price points match up? Could you still sell in as many days as the other homes did? If not, it may be time to re-approach your pricing strategy. Consider lowering your listing price by a few grand to see if you get some bites.
It’s been on the market too long.
Sometimes, buyers shy away from properties that have been listed too long. They think that, because no one has purchased the home just yet, there has to be some sort of issue at work —something wrong with the home or its condition. If your home’s been on the market 90 days or more, this could be the case with your listing. Talk to your agent about pulling it for a few months and re-listing later in the year to start anew.
Your listing photos are bad.
Next to the price, your photos are the most important piece of your listing. They’re what will entice shoppers to schedule a showing or contact your agent to learn more, and they play a huge role in your sale’s success or failure. If your listing photos were shot on a phone or by someone other than a professional photographer, it might be time to change them up. Hire a pro to take some expertly staged and lit shots, and consider adding on a video tour if possible. These make listings even more marketable in today’s mobile-friendly world.
The home isn’t available for showings enough.
Showings are a pain. You have to get the kids, pets, and dirty laundry out of the house, and all at the drop of a hat. Still, as inconvenient as they are, showings are a necessary evil when it comes to selling your house. After all, how can you expect someone to buy it if they’ve never stepped foot on the property? If you’ve been particularly limiting with your showing schedule, you might want to consider changing that. Stay in a hotel for a week and let your agent schedule all the showings possible. Who knows, you may have an offer in just a few days!
You need a new agent.
Is your agent really bogged down and busy? Do they have dozens of other clients and listings they’re managing? Do they rarely return your calls and emails on the same day? If so, they might not be giving your home the attention it deserves. They need to be actively marketing your listing day in and day out until it sells. If you get the feeling they’re not doing that, then it’s time to move on and find another Realtor®.
Your staging needs help.
Had lots of showings but no bids? Then something’s likely wrong with your staging. While you don’t need to hire a pro to stage and decorate the property, there are a few key tenets you should abide by:
- Take down all personal memorabilia, photos and artwork — anything that could keep a buyer from envisioning themselves in the home.
- Keep it clean and clutter-free. Give the home a deep cleaning and clear away any clutter. Organize the closets, donate what you don’t need, and keep the floors and counters tidy for showings.
- Think simple. Avoid too-bold or bright décor while showing your house. To best appeal to more buyers, you’ll want to keep your home’s aesthetic simple and classic. Think blacks, white, blues, and greys.
- Scent it up. If you have pets, kids, or like to cook, chances are high there are lingering smells in your home. Install some air fresheners and make sure to spritz some light perfume or even just Febreze before a showing.
Remember, today’s market is hot, so while you work on selling your home, make sure to hunt for your new home simultaneously. You’ll likely face stiff competition, so contact us to get Approved to Move™ and get a leg up on other buyers. We’re here to help.