You’ve heard a lot about this being a “seller’s market”, so you decided to list your house for sale, expecting it to sell the second it hit the market. Now it’s been weeks or months and your home still hasn’t sold. Why not?
It’s priced too high
Sure, this may be a seller’s market but that doesn’t necessarily mean that buyers will pay more than your house is worth. You still need to be realistic about what the fair market value of the home is. This can be hard for sellers, a lot of the time, who have lived in their house for a long time or who have put a lot of work into fixing or updating it and feel like it’s worth more than what the comparable homes are showing it will likely sell for. Getting your home priced right is so important. If it’s priced too high, buyers won’t make an offer on it and the longer it sits on the market, the bigger hit the sales price will have to take. So, try and keep your emotions out of it and price the home accurately the first time.
You have too much stuff
We’ve said it before, and we’ll say it again: declutter your house before you put it on the market. Buyers want to be able to picture themselves living in the home, not picture you living in the home. Take down personal decorations and photos to make the space feel more “neutral”. Consider getting a storage unit and start packing things up. Store out of season clothes and extra furniture. Not only will this make moving easier, but it will work in your favor when buyers come look at the house.
You haven’t made any repairs
It’s not always necessary (or in your best interest) to make a ton or repairs or updates before you put your house up for sale. Sometimes doing too many improvements makes it “too much house for the neighborhood” and you don’t get the kind of monetary return you’d like on those big remodel projects. However, that doesn’t mean you should just avoid all repairs and see what happens. If there are glaring issues, they could deter potential buyers. It may be worth it to you to do some of the obvious repairs needed before your house hits the market. If you’re unwilling, or unable to do the repairs, keep them in mind when pricing your house and adjust accordingly (see the first point).
Whether you’re standing firm on a sales price, you’re refusing to do any repairs or you’re not able to accommodate showing requests, you’re likely doing yourself a disservice. If you’re really serious about wanting to sell your house, you have to be at least a little flexible. Try and see things from the buyer’s perspective, this is one of the biggest purchases they’ll ever make! They want to make sure they’re getting what they pay for!