Why wont my home sell?

So…you decided to sell your home…

Selling a home is a stressful process for any home owner, but what if you’ve tried everything and your home just wont sell? It’s a tough spot for any seller: You do everything right, you take the steps to list your house hoping for a quick sale, but things aren't going as planned. What happens when you don’t get any offers and your showings have gone cold. And your wondering: Why isn’t my house selling?

So what do you do?  How does a seller turn things around? The most important thing to keep in mind when selling a home, is the amount of time your home has been listed on the market. The longer a home is on the market, the less appealing it becomes to sellers, so timing is everything!

What can you expect in the for 4 weeks?

The First week of listing your home, you can expect to grab a lot of attention from excited buyers looking to get their first peek, it’s very important during the first week of your home being listed that you keep your home organized and tidy.  You have to be prepared to show your home off to a potential buyer at any given time.  This is your opportunity to make a good first impression.

During the second week, your listing continues to gain visibility, you can generally anticipate a steady rise in viewings. It remains essential to maintain your home in a tidy, organized, and optimal condition for potential buyers. During this period, you may encounter returning viewers who were impressed by their initial visit, while also attracting new interest due to the freshness of your listing on the market. If you have not yet received an offer, there is no need for concern, as your listing is still relatively new.

The Third week should typically render an offer. It is likely that by this time someone has fallen in love with your home and has decided to make it their own. A serious buyer will provide a 1% to 2% deposit in order to secure your interest and show their commitment.

The Forth week This represents a significant milestone in your selling journey. At this stage, you should have received at least one offer and be progressing towards removing any conditions on the sale of your home. If you have not reached this point, it may be necessary to evaluate several factors. Are you taking into account the feedback received from prior viewings and making adjustments to enhance your chances of a successful sale? Is your home priced appropriately? Is your home staged in a way that allows potential buyers to envision themselves living in the space? This is the time to make a change! The longer a home is on the market, the less appealing it is to buyers.

Now what? 5 reasons your home may not be selling:

1.      Your home is not priced correctly:  Determining an appropriate listing price for your home can be a challenging task for sellers. It is not uncommon for sellers to have an emotional attachment to their properties, which may influence their perception of value, sometimes resulting in a listing price that exceeds the home's actual market value. Several key factors should be considered when determining a competitive listing price, including market supply and demand, location, the seller's individual circumstances, and the condition of the home.

Listing your home at an inflated price can be a significant misstep. Buyers and real estate agents often refine their searches according to price, which may result in potential buyers being excluded from consideration based on price range.

2.       Your photos are bad: In today’s market, the presentation of a property is crucial. Consumers are increasingly influenced by television shows and social media that enhance the buying experience. As a result, buyer expectations are at an all-time high. It is imperative for sellers to utilize images online that capture the attention of potential buyers instantly. Presenting a vacant home can lead to misconceptions; it may appear smaller than its actual size, may not seem to be in optimal condition, and may highlight flaws that are less noticeable when the space is furnished.

3.      Didn’t stage the property: It is essential to present the home accurately, but enhancing your listing can be beneficial. Many sellers may struggle to envision the property's potential; therefore, staging the home can offer inspiration for buyers and assist them in picturing the possibilities the property holds.

4.      Unfavorable market conditions: There are several factors beyond the seller's control that can significantly impact the sale of homes. Economic conditions, including job availability, interest rates, and population trends, all play a crucial role in influencing the market at the time of sale.

5.      Agent representation: When selling a home, it is disadvantageous for sellers to navigate the process without the assistance of a realtor. Realtors possess expertise in the industry and have extensive experience with numerous sales and varying market conditions. Therefore, it is essential for sellers to evaluate a realtor's reputation and read reviews to ensure they select the most suitable professional for their needs.

Identifying the reasons why your home is not selling is an important step toward successfully completing your sale. Although the process can be discouraging, selling a home is an experience that requires time, patience, and thoughtful consideration. Effectively reaching your target market and making a strong first impression are crucial to achieving your goals.

Contact us for your next staging venture at crystal@armadaproperties.com