Are you asking yourself, “Why isn’t my home selling?” Or “What can I do to make my home sell faster?”
In today’s market, it seems that homes are selling quickly, and while that may be common, it’s not the case for every home.
We found some of the top reasons that your home might not be selling, plus some ways to solve the problems you could be experiencing.
Why isn’t my home selling?
Here are the top reasons why it’s still on the market.
The price is not right. You’ve probably spent years in your home, making memories that will last a lifetime, which means to you, the house itself is priceless. But buyers don’t see that.
Make sure that the price matches the home. Even if it is a seller’s market, don’t be tempted to raise your price. Listing it at the best asking price will make it desirable to the most prospective buyers possible and, if the market is competitive, could lead to offers that are above your asking price. Listing it too high initially could scare away buyers who would otherwise have been interested in seeing your home.
Updates need to be made. Look at homes in your price range and area that are on the market or have sold recently. What features do they have that yours doesn’t? You may need to update your appliances, put in new flooring, add a fresh coat of paint to your walls, etc.
You can make upgrades to your home without spending all your money. Before you start on any updates, be sure whatever you invest can easily be made back when the home sells. Sometimes it’s true what they say: You have to spend money to make money. Don’t be afraid to ask your agent for their honest opinion on what updates could realistically help the sale of your home.
Your listing photos were not professionally taken or edited. Every single listing on the MLS can be viewed online, which means buyers are shopping and developing opinions about your home before they even think about going to see it in person. If your photos make the home look dark, small, dirty, or otherwise undesirable, buyers will refuse to step into it even though your home may not be any of those things in person. It pays to use a professional photographer because it will ultimately lead to more potential buyers walking into your home, which means you have a higher potential for multiple offers and a higher sales price.
It looks too lived-in. Are your personal belongings and memories visible throughout the home? Buyers want to be able to imagine themselves in your home and de-personalizing and de-cluttering can help them do that.
How can I sell my home faster?
Above, we listed some of the reasons your home might not be selling. Here are our solutions and top tips for listing your home for a faster sale:
List during peak season. If you don’t want to lower your price, listing during the peak selling season is your best bet for getting top dollar. According to Lawrence Yun, chief economist for the National Association of REALTORS®, “Home sales tend to rise along with the temperature,” which means spring and summer seasons can benefit sellers.
Lower your price. If you can’t wait until spring or summer to list, find out what a good competitive price for your home would be, then lower it slightly. This will draw more attention to your home and could lead to more offers, potentially leading to bids that are more than what you wanted.
Offer buying incentives. If you’re still not willing to lower your price, you might consider chipping in on closing costs. This benefits the seller and could even lead to a faster sale with more profit. Talk to your agent to determine what other incentives might help in your situation.
Remove yourself from the home. Physically removing yourself during showings is a given, but removing traces of your family is sometimes necessary. Take down family photos, paint over uniquely colored walls with more common shades, have your home professionally cleaned, and put as much of your belongings in storage as possible. You might even consider hiring someone to stage your home.
Work with an experienced Cromwell Home Group agent. Our agents are extremely knowledgeable when it comes to working with buyers and sellers. While there might not be an exact right time to buy a house or sell your home, we are here to work with you and your needs to give you the best home buying or selling experience possible