Do you find yourself asking, "why didn't my house sell"? One of these 10 reasons could be standing in your way.
1. Price.
Probably the top reason that listings expire is that they are priced too high relative to other available listings in the same neighborhood or price point.
2. Terms.
Is your listing appealing to first time buyers, but you are unwilling to assist with closing costs? This is a market specific issue, and it’s critical to package your home to attract the right buyer.
3. Location.
The proverbial holy grail of real estate is location, location, location. Listings that are on busy roads, or next to unkempt neighbors often languish on the market until they are priced as a “deal.”
4. Pets.
Some of us are dog/cat lovers. Others are not. For those who are not, often the thought of owning a home whose previous inhabitants were fuzzy and four legged is a total turn off.
5. Access.
If a prospective buyer is relocating here, and has just the weekend to house hunt, a property that is not easily shown may not make it on the list. Serious sellers make showings easy.
6. Condition.
Not all buyers are handy, or can see past simple cosmetic upgrades or repairs. They may choose a higher or similarly priced alternative that is move-in ready.
7. Clutter.
How we sell a home is not how we live. Prospective buyers can’t buy what they can’t see. Personal effects can be so overwhelming and distracting that buyers can’t appreciate the bones of a home.
8. Photos.
First showings take place online. Buyers review listings on REALTOR.com and other websites, shortening their list to their favorites, and eliminating – all based on the photos. Staging and professional photography are essential.
9. Exposure.
Some markets require multiple MLS systems to create a broad enough exposure to reach the target demographic. Listing with an agent who does not have access to the right MLS can mean you’re invisible to the marketplace.
10. Marketing
Not all marketing is created equal. Properly defining the target audience, and then building an effective strategy to reach them is part art and part science. If an agent simply put a sign in the yard and waited for a buyer, it most likely didn’t happen.
Would you like a professional opinion of why your home didn’t sell, and what you should do about it? We’d love to help. Email concierge@lizmoore.com or click below for a free comparative market analysis on your home!
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