Now is an interesting time to try and sell but people are listing their houses all the time, however, regardless of the time of year, the current state of our economy, or whatever is going on around the country, there are some tried-and-true reasons your house may not be selling. If your home has been on the market for longer than 30 days, especially in a hot market, there could be some major issues that you may be blind to. Price is always one of the top reasons but there are a lot of other reasons as well. If your house has been on the market for too long take a look at these seven reasons your house may not be selling.
#1. Your listing may be insufficient or outdated.
Nearly 100% of home buyers start their search online and it’s the very first place buyers go when deciding whether or not they’re interested in learning more about your home. If your listing simply isn’t doing your home justice, buyers are going to click right by your home. An insufficient listing can mean a few different things. This might mean you didn’t include enough information, your listing is lacking in beautiful images and photos, or the photos are dark, blurry, or the descriptions leave out things that really matter. The listing is the first impression homeowners have to impress the buyer and that listing has to be amazing.
If your listing is outdated, this means that the home has been on the market for a long time. Buyers can easily see if the home has been on the market for a long time if the listing photos were taken when there was snow on the ground and now it’s the middle of June. You may need to update the listing with the new, beautiful photos or have the home staged and then photographed.
#2. Staging makes a world of difference.
If your home is beautifully photographed yet what’s in the photograph is not impressive, buyers will pass your whole body. Your home has to make a good impression so it has to be in good condition, decorated nicely, staged beautifully, and set off in the right light. This has to be a neutral look and even though buyers realize that they’re not buying your “stuff” all the items in your house has to make an amazing impression so that buyers can literally see themselves in the home enjoying the space.
You have to show the home in its best light so aim for a neutral appearance. Stay away from anything that will jump out in photographs and consider bringing in a professional stager to de-clutter the space, offer suggestions on overflow furniture, and ensure that your home makes the right impression with buyers when they initially see it online.
#3. Unique marketing strategies for unique homes.
If your home doesn’t fit the mold of a perfect 2000 ft.² three bedrooms two bath layout with a living room, dining room, and family room, you may have a little bit harder time to sell it but that’s when marketing strategies come into play. If you have a unique layout such as dual kitchens or to complete living rooms, or any unusual layout, you may have to be patient and wait for the perfect buyer to show up.
Secondly, your marketing and advertising strategy needs to appeal to the type of buyer you’re looking for. You’ll need to cast these unusual features of the home in the most positive light so discuss with your agent different ways the home could be used to maximize its layout. Selling an unusual home may require listing the property in different places other than the usual online real estate sites. Neighborhood sites, Facebook neighborhood groups, and specialty websites might be the better place in addition to the local MLS.
#4. Adverse investments going toward the wrong thing.
If a homeowner is thinking they’re going to get $10,000 more for the sale of their property because they put a $20,000 water softener system or over-the-top tile roof, think again. Homebuyers are looking for middle-of-the-road and may not see the value in high and appliances and features like the homeowner did. It might be a nice feature to have but is it worth paying $10,000 more? Many buyers would say no.
#5. There may be an issue with the title.
Hopefully, this is something you can find out ahead of listing but the title, in this case, is the document that shows ownership. One reason a house may not sell is there may be a problem with the title to the house. This might include conveyance without a recorded deed, a paid-off mortgage that still showing up as a valid lien on the house, or a mechanics lien was filed for work done on the house by a subcontractor. These issues should be taking care of ahead of listing.
#6. Bad odors.
Living in a house for some time can make homeowners blind to bad odors. But septic or sewer tanks, mold and mildew, musty smells, pet smells, or cigarette smoke all discourage potential homebuyers. If you’re unsure what your house smells like, ask your real estate agent to be honest with you. This may be a major issue that will need to be corrected before listing your property.
#7. The price.
Regardless of what your home looks like price is the key. If you want to get the best price you have to do all of the items above or lower your price… It’s as simple as that. Buyers have to see the value and if the home needs upgrades, repairs, doesn’t meet the value, smells bad, there are title issues, or it just isn’t staged correctly, your price hast to reflect that. Take a look at similar properties in your area and then price your home 1% to 3% lower than the closest comparable property. Given the choice between the two, buyers will naturally choose the lesser priced home.
If you still think your home doesn’t fit any of these reasons give me a call. I have proven selling strategies throughout Schaumburg, Roselle, and the suburbs of Chicago and can help you get your home sold correctly, to the right buyer, and for the right price.
More Great Tips for Home Sellers:
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- 6 Low-Cost Basement Renovation Ideas
- 5 Home Staging Tips from the Pros
- How to Kick Clutter to the Curb