Why Doesn’t My Home Sell?

Why doesn’t my home sell? This is the most common question home owners ask after placing their properties on the market. There are many different reasons why a home may not sell, but the five listed below are the most common and the most important reasons, which every seller should consider before putting his/her home up for sale. The top five reasons a house won’t sell today are:

• Price
• Condition
• Location
• Listing Agent
• Marketing Plan (which includes ease of showing)

Price

Asking price is by far the first and the most common point from where the problem begins. The sellers, and in most cases their realtors, overestimate the value of the property, setting a very high asking price which puts off most potential buyers. After having set a high price in the start, cutting it down later only serves to weaken the seller’s position further. For a quick sale, it is very important that you set a realistic asking price for your home, which is neither too high nor too low.

Condition

After price, the second most important factor that can make or break a deal is the condition of the house, both from inside as well as outside. Remember, buyers observe everything very keenly. Make sure your home is properly painted and the front lawn is mowed, with trees and shrubs trimmed. Everything inside should be neat and clean with no clutter.

Location

The third most common reason a house would not sell in a competitive market is its location. People always prefer living in areas that are close to schools, workplaces, shopping centres and other daily destinations. Furthermore, a higher crime rate, messy neighbours and noise pollution, all deter potential buyers. If your home’s location is not too good, the only thing that can help you sell it quickly is a lower listing price. You should set an asking price lower than the market average.

The Listing Agent and his/her reputation

The fourth reason behind failure is the listing agent and his/her repute in the market. If your listing agent is hard to get along with or difficult, there is a high probability that your house will not sell quickly. Agents who are rude and moody will not have as many successful showings as an agent who is cooperative and enthusiastic.

Marketing Plan

Selling your home in a competitive market takes more than a “For Sale” sign board in your front lawn and an MLS listing. Selling a property successfully requires reaching out to as many prospective home buyers as possible with a focused and aggressive marketing strategy. Gone are the days when a sign in the yard, placing the house on the multiple listing services and running an ad were enough to attract potential homebuyers.