When you first list your home, you may be expecting a quick sale, especially in a hot market like the one we’re currently in. Other factors like a popular neighborhood or investments in home improvements, may lead you to believe that your property will sell in no time, but that isn’t always the case.
Although you shouldn’t panic if your home doesn’t sell immediately, you should start asking questions if the weeks and months start to fly by with no serious offers. If this happens, here are 10 reasons why your home may not be selling:
You overvalued your property. If your house is significantly overpriced, it's unlikely that it’ll sell. Even in the current market, most agents suggest pricing your home accurately and letting prospective buyers bid each other up. An experienced agent can give you an accurate value of your home. Additionally, don't make the mistake of tacking on the cost of any renovations you made; never assume that the cost of a renovation translates to added value.
Your listing is poor. If your home listing includes a poorly written description, many buyers will skip over it. Make sure you and your agent put an effort into creating a listing that attracts the attention of buyers. Be sure to include high-resolution photos of both the interior and exterior of your home, and don't forget to highlight unique features around your property!
You're present at showings. Let your agent handle your showings. Buyers don't want to see the seller lurking over their shoulder during showings, especially during an open house. This puts unwanted pressure on the buyer, which will likely make them uncomfortable. You don’t want potential buyers running away from your property.
You're too attached. If you refuse to negotiate the price of your home at all, then there's a good chance that you've become too attached. If a part of you doesn't want to sell, or if you’re in love with your home, there’s a good chance you're going to have a lot of difficulty coming to an agreement with potential buyers on a price.
You haven't staged your home. If you've already moved out of your home, don't show an empty house. This can make it very difficult for buyers to imagine living in it. Stage your home with modern furniture and decor to give buyers a better idea of how big each room is and how it can be used. You want the buyer to feel at home when they’re touring your property.
You kept up all of your personal decor. Buyers are going to feel uncomfortable touring your house if you keep all of your family portraits and other personal effects around. Take down decor that is political, religious or specific to your interests, so that buyers can have an easier time imagining themselves living there.
Your home improvements are too personalized. You might think that the superhero mural that you painted for your child's room is amazing, but that doesn't mean potential buyers will agree. If your home improvements are too personalized to you and your family, it can scare off buyers who don't want to pay to get rid of features that they don't want.
Your home is too cluttered. A cluttered home can be a major issue when it comes time to sell. Your home may be clean, but you could simply have too much furniture in one of your rooms. This will make the house feel smaller than it is. Also, be sure to have your carpets and windows professionally cleaned before you begin showing your house.
Your home is in need of too many repairs. The more repairs that are needed, the less likely a potential buyer will be to purchase your home. Many homebuyers simply don't want to deal with the cost or effort of doing repair work, even if it's just a bunch of small fixes that need to be done, like tightening a handrail or replacing a broken tile. Have these repairs taken care of before you list your home.
You chose the wrong real estate agent. Choosing the right real estate agent is one of the most important decisions you’ll make when the time comes to sell your home. A good REALTOR® makes all the difference in selling your home within a reasonable timeframe for the price you’re hoping to get. Be sure to do research on different agents in your area.
Each of these 10 things alone may not be deal breakers for potential buyers, but once you identify them as issues, you should address them before listing. The longer your property stays on the market, the less likely it is that it’ll sell at listing price. One of the best ways to avoid making these common mistakes is by working with a real estate professional.