The Top 3 Reasons Your House Did Not Sell
If you have had your home on the market for several months and haven’t seen much activity or any offers, chances are that one or more of the reasons are to blame.
You Priced Yourself Out of the Market: Most often, properties are priced too high for the condition of the house or compared to homes of similar size, style, age, and location. Sellers also do not take into consideration the higher interest rates that buyer’s are having to pay compared to this time last year or the year before (even a few months ago, rates were lower). An increase in just one percentage point can greatly change the per month cost to the potential home buyer. It’s important to take a look at what the monthly cost to a home buyer would be at any given home sale price not just the overall price - in order to price your home correctly and competitively.
Marketing Strategy Fail: When the property is priced at or below market value, and the home is in good condition, and yet is still not selling, then most likely your agent’s marketing strategy has failed. The best marketing strategies to sell your house include a combination of digital, and grass roots marketing. Your home should be shown in its best light by using a professional photographer and videographer to capture every detail online where prospective buyers will be searching. You should also have floor plans and 3D virtual tours completed. Is your agent using paid social media ads to boost your home’s visibility? Are open houses being hosted every weekend? How about brochures, is there a brochure box on your property to get the word out to neighbors? These are just a few of the questions to ask yourself if your house is failing to sell.
Lack of Presentation & Home Staging: Staging your home for sale can enhance its marketability, increase its perceived value, and potentially lead to a quicker and more profitable sale. There is a lot of competition out there especially during the Fall/Winter season. Your home has to compete against other similar homes for sale, as well as compete against shiny brand-new homes. That said, your home needs to be presented in its best light. Staging maximizes your home’s space, increases emotional connection of potential buyers, neutralizes personal tastes, and will showcase your home in the most appealing way. I can tell you in my own personal experience, homes that are staged will 100%. sell faster than homes that are not staged (all things equal).
Bottom Line: Selling your home can feel very heavy and uncomfortable, but don’t give up! Sometimes all it takes is making a slight change. If your home won’t sell I encourage you to get a 2nd opinion from another Broker/Realtor. There is a path forward!
