It can be very upsetting when your home has been listed for a long time and hasn’t moved on the market. Here are some possible reasons that your home still has the “For Sale” sign in the yard.
You’re Charging Way Too Much
You’ve priced it too high. It is said that every house can sell if the right is right. If you want to sell it quickly, you should lower the price early on, wait for a few months, and lower it again. Compare your home to others in your area that have been sold recently. This is because what homes in your area sold for in 2008 are not going to be the same today. Whether the numbers were higher or lower than they are now, they still won’t be the same. Your realtor and appraiser will be able to determine the correct number, as many factors go into the price of a home besides what it looks like and how nice it is.
You Have a Bad Realtor..Sorry.
Watch out for signs like poor communication, dishonesty, or clear lack of knowledge. Some agents have more listings than they can handle, and don’t pay attention to yours. Especially if the other listings they have are of higher value than their other listings. Your home will not be priority. Ask your agents what other properties they have listed and how many.
Open communication with your real estate agent is paramount to when, and if your home sells, and this personality trait in a realtor should be non-negotiable. If you can tell that they are non-communicative, get another realtor.
Your House Isn’t as Valuable as you Think it is
Understand that your clients do not see your home the way you do. You may think its the best home in the neighborhood, but their opinions on the home are not based upon memories in the home like yours. Sellers often have an emotional attachment to the house, leading them to believe their home is worth more than it is.
Misrepresenting Your Home’s Details
Do not misrepresent, or tell “white lies” about your home. The truth always comes out. You will run a buyer off when they find out you’ve lied about anything. If you are honest from the beginning, some of the problems you hid could be negotiated. A bad realtor may do this too; you must find an honest realtor who possesses a strong sense of ethics. Do not exaggerate anything in your listing; tell it like it is.
Do not try to sell your home when you are currently doing any substantial or minor work on your property. Buyers are looking to purchase houses that are already completed. Curb appeal is essential to selling a home, and a buyer will not be able to envision the home with a dumpster or a tractor outside.
Little to No Online Marketing
This is almost inexcusable. Buyers now look for homes online. Most people at this point are very familiar with sites like Trulia and Zillow. Your home should be listed on all big sites. Equally as important, make sure your listing has photos. If you don’t list photos, don’t bother listing it until you do.
You need to know what season to list your house. All categories of people such as retirees, families, young couples, singles, and newlyweds all purchase homes at different times. You must determine which category your house falls in to, and list it at the times that those groups typically buy. Of course, anyone in any category may want to buy your home at any time, so that is impossible to predict. But sometimes, you can have a decent idea. All the same, timing and price are just as crucial.