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Why isn't my house selling?

How long has your home been on the market? In 2018, the typical US home spent between 65 and 93 days on the market, from listing to closing. The average home received an offer within the first two months on the market according to Zillow.com. Ask your agent what your local numbers are and if the current market favors buyers or sellers and compare those timeframes to where you stand.

If your home has been on the market longer than average, start asking why and consider the top 3 three reasons houses don’t sell: Price, Marketing and Condition. While you have no control over some aspects of your home, such as its location- you have control over all three of these factors.

Listing Price- Are you asking too much?

  • How did you determine your home’s value? Did you choose the Agent that gave you the highest listing price?
  • Did you look at the comparable properties in your neighborhood?  Was your home listed for more than the typical home?
  • Are you getting showings but no offers?

Marketing-How is your agent promoting your property?

  • Review the listing description make sure it represents your home well.
  • Check your homes MLS listing information and pictures. Do they show your home in a positive manner?
  • Does your home show up on Zillow, Trulia, realtor.com?  Talk to your agent about a virtual tour or video link.
  • Has your agent created a single-property website, meaning your listing has its own URL?
  • Is your agent posting your property on their social media channels such as Facebook, Instagram and Pinterest?
  • Is your agent networking with buyer’s agents in the area to entice home hunters into your neighborhood? Have they done a Brokers Open House to help get the word out?

Home Condition and Curb Appeal- What message does your home send to people stopping-in or passing by?

  • Is your house staged correctly? Have you removed all the clutter?  This is especially difficult if you have renters in your property. Too much furniture or old furniture as well as general disorder can cost you. Not everyone can visualize the home with all the distractions.
  • Curb appeal can have a positive or negative impact on your home. Make sure you clean up the yard, park cars in the garage and trim the bushes. If you don’t want to clean up the interior and exterior of your home expect to have to drop the price to compensate.

 

It can be hard to look at your own home from an honest and objective point of view. If your house isn’t selling, you are going to have to take a fresh look at your home, your agent and yourself to take the appropriate steps to get your home sold.

It’s always a good idea to do your research before hiring a Realtor and ask plenty of questions. A good listing agent will have a proven record for negotiating sales prices that are very close to the listing price. You might also want to ask your agent about their marketing strategy for your home, or even why they are the best person for the job.

The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. This is not a commitment to lend.


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