1. The price is too high
When it comes to reasons a home isn’t selling, “If it’s not condition, it’s always price”.
2. You missed the market’s peak by a hair
Real estate isn’t as volatile as the stock market, but it can quietly shift while you aren’t paying attention.
3. You’ve got a specific problem to address
Even if a showing doesn’t provide you with a buyer, it gives you something important: intel. “Showing feedback is extremely important, if you’re getting the same answer from multiple people, you know you have a problem.
4. You’re working with the wrong buyers
Let’s say your home needs some work. The roof is getting old, the construction materials may contain asbestos and aren’t in the best shape, and there’s a bit of water damage in the basement that you don’t have the savings to fix right now. Or maybe you listed your home in a rush out of necessity — you need the extra cash, or a loved one is facing a change in health. But things aren’t moving at the speed you need them to. Sellers who need to sell urgently may find that an off-market sale works better for them. Many buyers can be sticklers about home condition. According to a 2020 survey of over 2,000 adults from Coldwell Banker, 80% of Americans say they would prefer to buy a move-in ready home over one that requires renovations. In addition, 70% of millennials and 71% of GenXers would be willing to sacrifice the size of their home for one that required no updates.
5. Your home is unconventional
Unique properties — such as very large, high-end or expensive houses, or homes located in unusual areas or with quirky features and style — aren’t for everybody, so they usually take a little longer to sell.
6. Your staging isn’t successful — or is non-existent
Showings allow buyers to get a feel for your home and give them a chance to envision the space as their own. That’s hard to do if they’re tripping over children’s toys in the dining room or overwhelmed by travel tchotchkes bulging out of built-in bookshelves. Unstaged homes can seem cluttered, cramped, dark, and small. Typically, a staged home sells for more money, and it does sell in a shorter amount of time.
7. Your curb appeal is no good
Buyers can’t appreciate your awesome interior if they don’t make it through the front door or get out of the car. An overgrown yard or rundown facade stops buyers in their tracks. It’s hard to believe paint, pressure washing, pine straw, and petunias can translate into thousands of dollars. Without much effort or expense, you can DIY or work with a professional landscaper and contractor to upgrade your landscaping, get your grass a brilliant green, plant a few flowers, and fix anything weathered or broken on your home’s exterior. And hey, why not paint your door a cute color? The right shade will help create an inviting entrance.
8. Your listing photos aren’t professional quality
After completing all that work on staging and curb appeal, you’ll be excited to show off the house. But, if your listing photos aren’t close to magazine quality, nobody is going to come see it in person. These days, a few poorly-lit, blurry iPhone shots won’t cut it. Professional photos, videography, drone footage can make a huge difference to buyers looking on-line.
9. Your listing description is too dry
“Four-bedroom, two-bath duplex located on Uptown street.” If your listing lacks imagination, you’ll fail to capture the attention of today’s buyers. Is it a three bedroom with an owner suite? Is it a contemporary or a Victorian? Is it near a zoo, park, college or nightlife? More than just describing physical location and features, you need to describe how those elements will make life fabulous for the lucky family who gets to live there.
10. Your marketing needs a makeover
If you’re relying on print ads and yard signs, you may not be generating excitement or reaching the right buyers. “Buyers are most likely to find the house online first and send it to their agent,” Lord explains. “It’s so important — especially in a COVID world — to be very, very visible on social media and on all of those third-party sites.
11. You’re getting bad advice
Nearly every issue on this list could be avoided by working with an experienced local agent. Your real estate agent should collaborate on pricing, staging, and curb appeal as well as drive the marketing efforts and analyze the need to make changes based on feedback from showings.
12. You’re a helicopter seller
Sometimes it’s hard to let go. Even if you’re moving to your dream home, your equity in your current home is worth more than money alone. It’s filled with emotional ties and memories. Some sellers want to control the process. For example, sellers might want themselves or their agent to be present at all showings. But, the seller’s presence can create problems. That energy from the seller gives the buyers the feeling of being watched and prevents buyers from walking around the house as if it were their home. It works the best when the sellers just pass off the keys and let a real estate professional guide them through the process.
It’s not too late to get that home sold.
It can be discouraging to see buyers passing you by and new properties whizzing on the market and then off to closing at lightning speed. But remember: It’s never too late to get your home sold. There’s a buyer for every home.
(*Information taken from Homelight article in Residential Realty Today)