While price and house condition have a huge impact when selling your home, there are other factors that can affect saleability too. One piece of advice is not to be overconfident when listing your property. Seeing your neighbor’s house sell faster doesn’t mean that you can close a deal as fast as they can. Doing your own research online and reading real estate reviews can help you prepare when selling your home.
Find out the 7 common reasons why your home is not selling fast.
The price is too high
“Determining the best asking price for a home is one of the most important aspects of selling a home. If your home is listed at a price that is above market value, you will miss out on prospective buyers,” says Chase Michels of Brush Hill Realtors. Even though the supply and demand formula always plays a major role in the seller’s market, it isn’t justifiable to set a price beyond the ceiling. Make sure that your agent is setting your home’s price according to the right market value.
The market listing position is poor
Don’t get too confident about listing your house on the market and signing up the contract in just a few days. Oftentimes, homeowners just entrust everything to their real estate agents with regards to listing their homes. If you are wise enough, asking your agent about his or her marketing strategy is a must to ensure that you are getting the best position in the market.
The photographs are below-average
Most buyers base their initial decisions on what’s posted online. In other words, their first impression becomes the basis for their decision to contact the seller and go see the physical house. It will all depend on the photos they have seen on your posts. If there are no photos or if the listing photos aren’t welcoming at all, your house will less likely be chosen for a site tour compared to houses with world-class photos.
Because of limited time and countless online listings, buyers simply scroll over random photos that don’t have appealing views. To give your home the edge on online listings, hiring a professional real estate photographer is the best thing to do. It is because real estate photographers know how to showcase your home’s best angles and highlights. They are skilled enough to provide you with great pictures which will make your home attract more buyers.
The agent simply doesn’t care
There are times that slow selling houses aren’t because they are priced high or maintained poorly. It could be that your agent just turns people out because of how he or she attends to inquiries. To solve that issue, you need to do a background check before hiring one. Excellent personality should be part of the package.
The smells and looks are bad
Closed drapes, dark rooms, totally vacant house, dark paint, and uninviting ambience don’t make a saleable house. Added to that is the bad smell of old furniture, uncleaned closets, broken appliances, and undisposed garbage. It is best to make everything well arranged and made before opening your house for potential buyers. Repairs and renovations are necessary to sell your home fast.
The buyers aren’t allowed to see the house
There are some sellers who don’t allow showing their home, or perhaps require a lot of permission process. Others can’t be readily contacted by buyers, making the sale a lot harder. To solve this issue, make sure that your real estate agent is always available whenever inquiries arise.
The insurance and title are problematic
Controversial properties and unpolished ownership documents scare away potential buyers. Some examples of title problems include:
- A paid-off mortgage that is used as a lien on the house
- Usually during family transfers, a deed of sale isn’t issued
- An existing mechanic lien on the house as filed for a work done by a subcontractor
In some cases, homeowners insurance can’t be given simply because basic standards aren’t met especially on plumbing, electricity, roof and cooling systems. Because of this, the number of buyers is lowered down to those who can afford buying the house in cash and renovating it to meet the state’s housing standards.
To avoid this problem, make sure that you have settled everything with regard to insurance and property documents to avoid potential buyers from backing out.