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Written By Ellie BrooksPublished 11/29/22
“I have a great home in a nice area, but my house is not selling. What gives?”
If you’re a homeowner or realtor struggling to sell a property, you’re not alone in feeling frustrated. Home prices have soared over the last two years, and stories abound of prospective buyers making offers well above the seller’s asking price. But housing markets are complex, and a variety of factors can make it difficult to sell a home even in a seller’s market.
Are you scratching your head and asking, “Will my home sell at all?” Don’t panic. This article will review some likely reasons for a lack of offers from buyers—and what to do about it.
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1. Your listing is vague or generic.
Put yourself in a buyer’s shoes. Would you respond favorably to a listing that is short on details and light on visual representations of the home? Of course not. You would want as much information as possible about the home, its history, and its neighborhood.
Given the choice between a weak, vague listing and another that provides an abundance of information and reveals the character of the property, the buyer will pursue the latter every time.
Honestly assess your property’s listing. Does it really make the home feel inviting?
2. Your asking price is too high.
It’s simple economics: Sometimes a home won’t sell because the sellers are asking too much. True, we are in a seller’s market, and houses are going for record prices. But the market has its limits. Are you overestimating what buyers are willing to spend? Is it possible you missed the market’s highs and need to adjust your price to where the housing market is today?
3. Your home’s staging is failing to make a good first impression.
A home’s staging, décor, and manner of upkeep affect how interested potential buyers are. Dated décor, clutter, unkempt landscaping, messy rooms, poor lighting, and too many personal items can all sour a buyer’s first impression.
4. You are putting off buyers.
If you’re getting a lot of leads but no offers, consider that buyers may be uneasy with your method of showing your home. Sellers and realtors that hover over potential buyers or come across as pushy are in effect self-sabotaging their efforts to sell their property. Buyers need some guidance of course, but they need to feel comfortable and at ease during a showing if they are to envision themselves making your house into a home of their own.
1. Act on feedback.
If your realtor or a buyer who passes on your home offers advice, take it! Solicit feedback from whomever you can. Ask friends or family members to review your listing to see if your home seems appealing to buyers. If they offer any constructive criticism, adjust your approach accordingly.
2. Improve your property’s curb appeal.
Generate more interest in your home by improving how it appears to passersby on the street. Review your lawn, your home’s exterior, and the exterior photos in your listing. Is the grass brown, patchy, or overgrown? Are shrubs and trees due from a trim? Are there mildew or water stains on the roof or siding? Is there clutter in the yard? All can make a home seem less appealing.
If you’re not getting many bites on your home, consider cleaning up the yard and your home’s exterior.
3. Make a more engaging and informative listing.
Buyers want as much information about a home as possible. When was it built? How large is the lot? What is the home’s square footage? What school district is the property in? Work with a realtor to include as much relevant information as possible.
Supplement your listing with an abundance of photos and videos. Consider hiring a real estate photographer to take professional photos throughout your home. Some photographers can also provide aerial photos and design virtual tours that can take your listing to the next level.
4. Reconsider your asking price.
If you’re struggling to sell your home, it’s possible you’re simply asking too much. Markets evolve quickly, and what seemed like a fair price two months ago could be unreasonably high today. Use an experienced realtor’s advice to establish a fair asking price. Research what comparable homes in your area are selling for as well.
5. Take a more robust marketing approach.
Make it easy for buyers to discover your home. Ensure that your home is listed on MLS, Zillow, Realtor.com, and other real estate sites that service your area. Consider advertising on social media as well.
6. Make reasonable home improvements.
A home in visible need of repair can put off some buyers. If you can affordably manage some necessary repairs, you will likely see a return on your investment when you sell your home. Sometimes, applying a fresh coat of paint on the shutters or restaining the front porch is enough to increase your home’s appeal.
If your home is in great shape and you’re certain your asking price is fair, think about incentivizing buyers with warranty coverage. Advertising a home warranty when selling a house puts buyers at ease because it guarantees that problem appliances or systems will be repaired. Because a home warranty for sellers is transferred to the buyer upon closing, buyers don’t have to worry about paying for expensive repairs shortly after moving in.
The buyer isn’t the only party to benefit. Home warranties have been shown to expedite home sales, so your home could be on the market for a shorter amount of time. Warranties also increase home values, so you might close at a higher price.
Use Liberty Home Guard’s website for a free quote on a warranty for your property. You can also reach out to our team by calling (866)-916-1576.