You’ve put your house on the market, and months have gone by without a single serious inquiry. What do you do in this scenario? There are a number of factors that could be contributing to your home’s extended stay on the market. Here’s a list of reasons to consider:
Your asking price may be too high.
Just because your home is remodeled and features fun and unique attributes, it doesn’t mean it will sell for any price. The housing market will always determine how high or low your home is valued at—no matter what you feel its value is. That being said, take the time to examine what other homes for sale in the neighborhood are valued at. Even dropping your asking price by 5-10% could make a huge difference in perking potential buyers’ interest. Not only is a price drop enticing, it brings in a whole new demographic of buyers from a different budget bracket. And if you’re worried that lowering your asking price will lose you money, think again. Lowering your asking price even slightly, can open doors to more buyers that could potentially result a bidding war; giving you your original asking price anyway (in the best case scenario).
Your curb appeal isn’t appealing at all.
It’s a known fact that people are less likely to be interested in stepping into a home for sale if its curb appeal is seriously lacking. If the grass in your front yard is patchy and dead, the front fence is broken, and the home’s exterior paint is in dire need of a fresh coat; buyers notice and and are immediately put off. Make sure you’re giving potential buyers a great first impression of your home by planting some flowers, touching up the paint job, and tending to anything else that needs fixing.
You’re too present in your home.
While your home may boast a bold, unique style; potential buyers may not dig it as much as you do. Don’t be offended that your taste may not be “universally appreciated” – it’s not about that, it’s about selling your home. When potential buyers look through your home, they should be envisioning their possible life there– not wondering what the current owners are like. Consider hiring a home stagger to help make the space more appealing to buyers.
Another tip: Be sure to be out of your house during showings and open houses. Buyers will not be honest about how they feel about the home in fear of offending the seller. Having your presence there can be off-putting to buyers, and can slow the selling process down significantly.
You don’t have a strong online presence.
These days, a reported 7 out of 10 people do research online before making a major purchase– and a new house definitely counts as such. Knowing that, taking the time to take good pictures on your home for online listings is imperative in garnering interest in your home. Consider hiring a professional home listing photographer to take pictures of your property– or even do it yourself if you have a knack for it. If you can spare the cash, posting a video of your home’s exterior and interior can be even more effective in sparking potential buyers’ interest.
-Thanks for the tips DreamCasa!