After the uncertainty of the past few years we aren’t exactly doing the happy dance yet, maybe just a little skip of joy for the current uphill swing in the housing market, but dancing or not, people are once again thinking positive about listing their homes for sale.
But what if your home has been for sale and has not sold? The answer might be as simple as making a few adjustments. While every situation and home is unique there are 3 possible reasons why your home has not sold which can often apply to any house sitting idle on the market.
- Over Pricing
One of the top reasons a house has not sold, yet the one reason sellers don’t want to hear, the property is simply over priced. Over priced doesn’t necessarily mean your home might not be worth the price you list for…in another time, in another market. But for the current time and place in the housing market your price may not be working. Also, we all have an emotional attachment to our homes, especially if we have lived in them for a long time. We see the flaws but we find them endearing. A potential buyer normally has not formed an attachment to the property. Buyers are looking at how much they are spending, how much they need to put into upgrades and how fast they can move in. Sellers have a couple choices to solve this problem, (a) Lower the price (b) Improve the property or (c) wait until the market changes.
- Advertising and Exposure
Lack of exposure can stop even the most desirable property from selling. If your house is for sale but no one knows, it will sit waiting like a shy wallflower until someone finally notices it is available. Ask yourself a few questions. Is your home listed on the MLS (Multiple Listing Service)? Have you or your agent posted to online search websites such as Trulia? Do you have clear, accurate photos? Or has your home been misrepresented by embellishing the description to the point a potential buyer is disappointed when they view your property? Is your home available for showings or is there always a reason it can’t be shown? If so, this leads us to the next possible reason your house is not selling.
- You are Not Ready to Sell
If you have over priced your home and absolutely can not agree to lower the price, and you always find a reason your home can not be available for showings, it is time to ask yourself if you are really ready to sell. Sometimes the thought of change or cutting the ties to a place you have called home for many years can be daunting.
We all accept or reject change in our own way and maybe some soul searching needs to be done to see if you are really ready. If not, there is no shame in waiting until you are truly able to move on.
If a seller is in a situation where they must sell for financial reasons, health reasons, or even job relocation, the best practice is to accept all the reasons the sale will be good, remember a home is about people not buildings, and take some gentle advise from their realtor. After all…sellers, realtors, and buyers usually have the same goal…a house sold and a house bought!