Wondering why your home is still sitting on the market after weeks-or even months-of showings? Can’t figure out why your open houses are well-populated but nothing ever comes of them? Or maybe no one is coming to your open houses at all?
It’s easy to get frustrated when your home isn’t selling and you don’t know why. Which is why we’ve rounded up 10 of the top reasons houses sit on the market. Chances are no one’s biting because
Your home is really only worth what people are willing to pay for it.
you’ve committed one (or more) of these mistakes. Identify which ones they are, do the work to set them right, and you could be signing on the dotted line in no time.
1. It’s priced way too high. Like or not, the market dictates how much you get for your home-regardless of how much you think you’re home is “really” worth. Buyers will be looking at comparable homes in your area and seeing how yours stacks up, and if your asking price is much higher, it will work against you.
Remember, your home is really only worth what people are willing to pay for it.
2. Your timing is off. More people house-hunt in the spring, summer and early fall than they do in the winter. It’s simply a matter of convenience — no one wants to trek from house to house in the snow and freezing temperatures, and even if they find a house they like, no one wants to move in at that time, hauling cardboard boxes across snow and ice. Unless they need to find a home ASAP, many put their searches on hold over the winter.
That’s not to say you can’t sell your home during the wintertime, but you need to take the season into consideration. Offering incentives (like a $500 credit towards moving services) and targeting buyers who are on a similar deadline can help.
3. Buyers can’t find it. More and more buyers are searching online, and if your home isn’t listed in all the places they’re looking, they could be passing you by. Make sure your home is listed on major real estate sites like Homefinder, Zillow and Trulia, as well as on the multiple listing service (or MLS) used by realtors.
4. Your photos suck. When buyers do find your home’s listing, your photos (or lack thereof) could be sending them away. Buyers want to get a good feel for what a home has to offer before they decide to arrange to visit it in-person, and they can’t do that if you have no photos, few photos, or photos that are of a very low quality.
Include plenty of shots of the major areas of your home, as well as what the front and back exterior look like. Highlight any special selling points. Make sure these photos are well-lit, in focus and show off your home at its best.
5. It needs some work. While some buyers may be willing to take on a “project,” the majority of them won’t-especially if you’re asking the same price as homes that don’t need any repairs. From big things like a leaky roof to little things like a leaky faucet, you don’t want your buyers creating a running list in their head of projects they’ll need to take on if they buy your home.
Fix everything you can before you list so that when buyers tour your home, they can focus on the home and not how much it will cost them in repairs.
6. It’s got too much “you” in it. Roman statesman Cicero once said that people fail because they “refuse to set aside trivial preferences.” Apparently, he would have been a great at selling homes.
You want people to be able to picture themselves living in your home, and they can’t do that if too many of your personal touches are on display.
Get rid of those family photos on the mantle in the living room and your kids’ drawings tacked up on the fridge. Repaint bold-colored walls a more neutral tone. Remove any statements pieces that aren’t to everyone’s taste. If you’re a big collector, take some of your souvenirs and knickknacks down and box them up for your next home.