Blog > 7 Likely Reasons Your Home Isn't Selling
So you have listed your home for sale and it has been showing, and showing, and showing and . . not selling. That might mean it is time to make some changes, especially if your home has been on the market for more than a month.
If a home has been on the market too many days, it is usually viewed as a negative quality signal as buyers speculate that there might be flaws which are making the property hard to sell. The longer the listing sits, the more the sale price can potentially fall below list price. Every day that your home isn’t selling, it is statistically going to sell for less.
Here are 7 likely reasons your home isn’t selling along with our advice for how to fix the issues.
1. The price is too high
When it comes to reasons a home isn’t selling, if it’s not condition, it’s usually always the price.
What’s the fix?
It might be time for a price drop. You shouldn’t go more than three weeks without doing a price reduction. How much should you drop the price? Dropping the price by $1,000 every week usually won’t get the job done, but a significant price reduction will do wonders!
Did your Realtor® do a comparable market analysis before listing your home? This is a very important step! Comparing the similar homes sold in your neighborhood and evaluating the current real estate market trends, tax records, and public sources will help your agent valuate your home. As the market is constantly changing, it takes some homework to be done by your Realtor®. If you’d like a market analysis, complete our Home Valuation form.
2. Your home doesn’t fit the mold
Some properties are unique – like very large homes, very high-end or expensive houses, homes in unusual areas, or homes with just odd or unusual features. These will take a little longer to match with a buyer.
What’s the Fix?
Patience! If your home is unusual or unique, you’re probably going to have to wait a little longer for the perfect buyer to show up. Make sure your marketing and advertising strategy is designed to appeal to the buyer you’re looking for.
3. Your staging is bad
It might seem silly – the buyer isn’t shopping for furniture – but staging does matter. There is a difference between staged homes and vacant homes. Typically, a staged home sells for more money and does sell in a shorter amount of time. Incorrect staging can fail to show off your home’s assets or, even worse, highlight the flaws you’re hoping to avoid attention.
What’s the fix?
Make little upgrades, paint, fix anything that’s broken, clean up your yard, and de-clutter! Consider hiring a professional stager to help you show your home at its best. Little upgrades will often bring a huge return on investment.
4. Your curb appeal is no good
Curb appeal is like the staging of the outside part of your home. The first impression a buyer gets from your house is important.
What’s the fix?
Upgrade your landscaping! Get your grass a brilliant green, plant a few flowers, and fix anything obviously broken on the front of your home.
5. Your listing photos aren’t professional quality
According to the National Association of Realtors, https://www.nar.realtor/sites/default/files/documents/2019-real-estate-in-a-digital-age-08-22-2019.pdf , 44% of buyers look online before doing anything else, and 87% of buyers found listing photos very useful. If your listing photos don’t show off how great your house is, nobody is going to come in person to see it.
What’s the fix?
This is an easy one – hire a professional to do your listing photos! Your listing agent will be able to provide or recommend a professional photographer.
6. You have a specific problem to address
Showing feedback from other Realtors and their buyers is extremely important. If you’re getting the same answer from multiple people, you know you have a problem.
What’s the fix?
Once you have identified that there’s an issue, you can work to correct it. If multiple people seeing the house say it’s too dark, add lighting, de-clutter, or have the windows cleaned. Unfortunately, some things cannot be changed – like being located on a busy street, etc. The price can cure that.
7. You’re getting bad advice
Almost everything on this list could have been prevented by working with a Realtor. Your Realtor should help with pricing, staging, curb appeal, and taking charge of marketing.
What’s the fix?
Make sure you’re working with an agent who is an expert in your area or the kind of home you’re trying to sell. With the right adjustments to your home’s price, listing, staging, or condition, it will sell.