Five Reasons Homes Dont Sell

It’s a tough decision to sell your house, and frustration can set in easily when your home sits on the market a long time. Several common problems are at the root of most home sale problems. Learn to recognize them and do your best to work around them. With a little thought and careful planning, you can take control of the situation and make changes to move the process along.

Overpriced

An unrealistic asking price is a common reason properties don’t sell. Home buyers shop comparatively and a house that’s overpriced is at a disadvantage when its features are inferior to those that are priced fairly at the same list value. Realtor Ronald Phipps, in a “Chicago Tribune” piece, advised sellers to revisit prices every 30 days if a home sits on the market.
Bad Location

A home in a less-than-desirable location might need heavy marketing to increase its attractiveness. A price reduction might be in order, or the seller can try to promote what the house can offer, whether it’s proximity to shopping and transportation or a newly renovated interior. If there’s a specific problem that can be addressed before the house goes up for sale, do what’s necessary. For example, a tall hedge might help remedy an eyesore.

Does Not Show Well

A house must be presentable both inside and out to appeal to potential buyers. A new coat of paint to freshen the walls and new horticulture to beautify the front lawn can add to a positive first impression. Open space is key inside the house; place extra furniture and knick-knacks in storage and get rid of clutter. Accessories such as flower boxes and new curtains contribute to the aesthetic value of homes.

Ineffective Marketing

According to the Nationwide Building Society, one-third of home buyers look online for properties. Your listing agent should advertise your home on his company’s website, local multiple listing sites, as well as offline mediums such as real estate publications and flyers. Attractive, in-season photos help sell homes, as do regular weekend open houses. A video tour of your home might also be a good strategy.

Market Conditions

Sometimes a house does not sell through no fault of the seller or agent. If it’s a tough market, it’s difficult to find a buyer. The declining economy and interest rates contribute to a buyer’s market. Sellers may have to drop prices or wait out the flat market.