If your home has been on the market for weeks or months without a single offer, you may be wondering what you're doing wrong. While the home selling process can certainly be frustrating, there are a number of things you can avoid doing to ease your frustrations and increase the odds of your home selling. Below are three possible reasons your home may not be selling and what you can do to fix them.
1. Your Home Is Too Personal
When putting your home on the market, it can be difficult to see what potential buyers do when taking the tour. Unfortunately, a home that is too personal—unusual paint colors, children's art and decorations, etc.—can have a negative impact on the thoughts of potential buyers.
So, what can you do to turn this around? Luckily, this is an easy fix which will require a bit of your time. First, it's always best to stick with neutral tones—both in your paint and furniture—when getting your home ready for showings. This will allow potential buyers the chance to see the home for what it really is and imagine their own belongings and style incorporated into it. Second, it's best to put away any macaroni art or construction paper decorations for safe keeping. While your children's art is certainly adorable, it can distract buyers and not allow them to see themselves living in the home. Third, put into storage any unusual art or furniture pieces that you have lying around. You don't need a statement piece when selling your home, so it's best to put it away for safekeeping.
2. There Are Too Many Required Repairs
Potential buyers understand that buying a home means paying for necessary repairs and remodels. If your home has too many required repairs, though, this can be a huge turn-off to buyers.
So, instead of deducting the cost of necessary repairs from your home's asking price, it's better to do the repairs yourself and have that reflect in the listing price. For example, if the home you're looking to sell needs a new boiler, it's best to pay the $4,000 for it yourself than to give potential buyers a cut on the asking price. Money isn't everything when it comes to buying a home. For many would-be homebuyers, the amount of required work is also something to be factored in.
3. Your Home is Priced Too High
It can be difficult to put a price on a home that you love, but when looking to sell, it's important to be objective and fair.
While this may be the home that you bought with your husband, raised your family in, and experienced a number of life's greatest moments in, potential buyers won't be willing to pay for the sentimental value of your home. This means that it's important to work with someone who can give your home an objective price, one which is based on the true monetary value of your home. This is where a realtor can be extremely helpful, as they likely have experience selling in your neighborhood, so they know how much similar homes have sold for in the past.
To learn more about the real estate market in your area and how to put your best foot forward when selling, consult with a local real estate agent today.Share