With the current housing market as strong as it is, many sellers find themselves wondering why they are having such a hard time selling their homes. Here are five of the most common why homes do not sell.
1. The Asking Price
With the housing market as strong as it is, many sellers are tempted to price their homes just a little higher than the market can bear. The hope is that with such a strong marketand short supply of available homes, buyers will be ready to pay just about any amount in order tobuy their “dream” home.
However, not only do you have to sell your home to the buyer, but you also have to sell it to the bank. Keep in mind that while you and the buyer may agree on a price, the bank will only offer to finance the amount the home has been appraisedfor. Also,keep in mind today’s buyers have spent hours doing online research and will know if you are overpricing your home.
2. The Condition of Your Home
With new home construction going at full blast in most areas of the country, being able to sell an existing home can be challenging. There is nothing like a new home, everything in it is brand new, no leaks, no squeaks, no drips. Realtors say that along with decluttering your home for showings; youshould go through and make any necessary repairs like torn screens, holes in walls, dripping faucets, oh and if you have teens, you might want to vet any posters they have on their walls.
3. How Motivated Are You?
Buyers can always tell if you are motivated to sell your home. How? By pricing your home right and making sure it is in goodcondition. A motivated seller will entertain all offers and work with the buyers to make sure the sale goes through.
4. Putting Together a Marketing Plan
You need to work with a real estate professional to create awell-thought-outmarketing plan. No one looks in the papers anymore for their next home. According to the National Association of Realtors,approximately 95% of home buyers used the internet to help find their next home in 2017. A professional realtor knows where and how to market your homein order tosell it quickly and for the highest price. They use professional photographers, create videos, and virtual tours, and use the web to ensure your home is exposedto the largest market possible.
5. Failure to Communicate
One of the worst things you can do that is sure to keep your home from selling, is a failure to communicate with your realtor. From the moment your home goes on the market until the final documents are signed and the sale is complete you need to keep an open line of communication with your realtor. Thisincludes making sure you are available to take care of any last-minute changes in the contract and of course for the closing of your sale.
The bottom line is that your house is not going to sell itself, even in a strongmarket. It takes hard work and dedication to achieve this goal. And of course the help of an experienced professional realtor!