Your home has been on the market for a while now. You may have had a few viewings, but no serious offers. It’s becoming worrisome. This isn’t something you want to drag on for months and months.
So, what’s going on? Here are the top 10 reasons why your home isn’t selling (and how to fix them).
- You Didn’t Hire a Real Estate Agent
Going it alone might pose a few problems. You might not know the market very well, or you may not know where to advertise. Sometimes, it’s best to consult with the experts. Finding a good real estate agent can alleviate a lot of the stress and can give you valuable assistance where you need it.
- You Hired the Wrong Real Estate Agent
Find someone who is experienced with home sales, someone you can trust and who has done this before. Look up their reviews and credentials, because not all real estate agents are equally experienced and professional.
- Your Marketing is Lacking
If you insist on selling your property on your own, you need to put your house front and center. Buyers need to know it’s on the market. Make sure your home is marketed under the correct classifieds. You could even hand out flyers or post them in local shops or restaurants. Shoot a video of your home (or hire a professional to do it for you!) and put it up online. And make sure to hold at least one open house—they are usually held on Sundays, as most people are available on that day and have the time to go to an event like that.
- You Don’t Have Enough Good Photos
Are your photography skills lacking? Is it difficult to imagine your property in all its glory? Consider hiring someone to take photos of your place. And make sure you have pictures of the whole space, not just one or two rooms. You want all bedrooms, the hall, the main room, the basement—everything.
A photography shoot will require some effort made at staging, so set your house up so it looks inviting. Tidy up! And shoot the photos in good lighting. Trust us—it matters.
- Your Price is Too High
Of course, you don’t want to settle for a lower offer than you have to. This is completely understandable. However, check out the market and base your pricing on that. No one is going to buy a home that is overpriced—especially when compared to other houses in the area. If you have a real estate agent, they can help you set a reasonable price that you are happy with and that entices potential buyers.
- It’s a Bad Time to Sell
Sometimes, the timing is just not right. But consider these rules of thumb: most people don’t want to move in the middle of winter. The spring, summer, and fall are more popular times. Furthermore, the buying market might not be that great when you decide to sell. But your real estate agent can help you out with this! They’re the expert, so you should consider taking their advice. If you do decide to sell in the winter or at other times when the market favours the buyer, you might need to consider lowering the cost or waiving a fee.
- Your House Is in Need of Serious Repairs
Not that many people like a fixer-upper. They are already paying for the house, and no one wants the added expense of repairs or renovations on top of that. This is especially true if something major is in need of work, like the roof. Get these repairs done, and only then put your home up for sale.
- It’s Too Custom
Is there too much ‘you’ in the place? Does it show off too much of your unique personality? Maybe take it down a notch. Or replace that funky wallpaper that you really love with something more generic. Go for neutrals: these colours or shades won’t throw off potential buyers. Give people a chance to see themselves in your space. They won’t be able to do this with crazy colours and too much customization.
- Your Property is Not Well Kept
Has it been a while since you’ve tended to the yard? Mow the lawn. Make the front of the property look inviting and welcoming. First impressions matter. And the first thing potential buyers are going to see is the front yard, so it’s time to get to work!
- A Combination of All of the Above
Maybe you have that one room that is a little too out-there. Perhaps you are also trying to sell in the winter. Your problems could be a little bit of everything. Tackle them before you market your place!
You can absolutely sell your home. It just might take a little more work and time than you thought.
This is a guest post by Kurtis Forster, a real estate broker for Team Forster in London, Ontario.