Main reason a house does not sell
The Price Is Too High
The most common reason why your home may be sitting on the market is due to high pricing. You can avoid overpricing your home by talking with your real estate agent and examining the value of similar homes in your area.
What makes houses hard to sell?
Factors that make a home unsellable “are the ones that cannot be changed: location, low ceilings, difficult floor plan that cannot be easily modified, poor architecture,” Robert Shortsleeves of The Shortsleeves Real Estate Group in the Fayetteville, NC area, who sells homes between $400,000 and $30 million, told in his journal.
You’re Not Marketing Enough
No single aspect of marketing sells a home; it’s a combination of efforts. If your online media outlet makes a mistake and lists your home under the wrong section, don’t panic. Homes have sold to buyers who found them in the wrong place. For that reason, consider placing an ad under several classifications.
- Print four-color postcards and mail them to surrounding homes in the neighborhood and adjacent neighborhoods as well.
- Create four-color fliers containing several photos to distribute to prospects and those who tour your home.
- Hire a virtual tour company to shoot and upload videos.
- Consider shooting a video yourself and uploading it to YouTube, even if it’s just you talking about what you like about living there.
- Advertise extensively every weekend.
- Hold open houses on Sundays that coincide with other neighborhood showings. Sometimes Thursday evenings also attract buyers for twilight tours.
- Get feedback from buyers about what they liked and disliked about your home, and make adjustments to overcome objections.
Short sale
In a short sale, you sell the home for less than is owed on the mortgage. Keep in mind that it requires your lender’s approval, and “short” doesn’t refer to the process — short sales can take many months to close. And they often affect your credit score.
Deed in lieu
Also known as a deed in lieu of foreclosure, a deed in lieu is when you hand over the ownership of your property to the bank in exchange for being released from the debt. It’s an option homeowners tend to explore when the bank declines to allow for a short sale and they want to avoid a foreclosure. Keep in mind that a deed in lieu will negatively affect your credit score, just as a foreclosure would.
6 Ways to Get Your Home Ready to Sell in Just 30 Days
- Paint Rooms. This is one of the simplest and most inexpensive ways to spruce up the rooms in your home.
- Curb Appeal. Curb appeal is as important as ever, especially after the long winter.
- Make Small Fixes.
- Brighten Up!
- De-Clutter.
- Clean Like You’ve Never Cleaned Before.
8 Secrets to Selling Your House Fast in a Slow Market
- Know Your Market.
- Price Your Home Right.
- Make Your Home Presentable.
- Market Your Home Aggressively.
- Be Flexible With Showings.
- Play Up Your Home’s Best Features.
- Offer Buyers Incentives.
- Offer Flexible Terms.