What happens if your home doesn’t sell?
When you list your home, you hope for a quick, successful sale but what happens if it doesn’t sell? The real estate markets throughout the U.S. right now are such that many newly listed homes sell in the blink of an eye. While we all would love a quick sale when we list, the reality for some sellers is that their homes may sit on the market much longer than others. If you’ve listed your home and it’s not seeing any interest or offers, read on to find out some of the reasons it might not be snatched up.
One of the main reasons a home doesn’t sell is because the price is too high. Your agent can guide you on an appropriate price based on local comps, the condition of your home, and any recently sold homes your area. But if you are set on getting a certain price, and no one is showing an interest, it’s best to reevaluate your asking price. Cutting the sale price can attract a huge number of buyers that may have been previously disinterested.
Make sure your home has a certain allure to it, especially if it’s been sitting on the market for over a month. While you don’t need to resort to remodeling or tearing down walls, take time to clean, get rid of clutter, and make small cosmetic improvements to those areas that need a facelift. An ugly home will not entice potential buyers through your front door. Your agent will gladly provide some suggestions on what you can do to add a little ‘oomph’ to your home.
With many buyers beginning their home search online, it’s imperative to have quality listing photos. Make sure what you put on the Internet shows your house in its best possible light. Don’t take pictures with your phone. Have a professional photographer, who specializes in buildings, take your listing photos.
Know from the get go that you need to be flexible. If you’re unwilling to accommodate showings throughout the day (specifically in the evenings and on the weekends) and open houses, you may lose a perspective buyer.
If your home has been on the market for a while and hasn’t garnered a lot of interest, it may be time to reevaluate your current strategy. If you know you’ve fallen victim to one of the items listed above, take some time with your agent and determine what the best course of action is. There are buyers out there that want to buy your home, you just need to find the best approach to getting them through your door. Good luck and please feel free to contact the team of Audrey and Kip if you have further questions.