If your home is sitting idle in a seller’s market, it is time to get to the root of the problem. There could be many reasons your house isn’t selling. If you are eager to get your home sold, take a look at these factors that could be keeping your home from having a sold sign out front.
The House is priced too high
Supply and demand conditions exist in a seller’s market. There is high demand for houses but low supply. That tends to drive the cost of houses up. You can keep this in mind when listing your house, but you don’t want to proceed with the attitude of “the sky’s the limit”. In a seller’s market, you may feel confident to list the house a bit higher than what it may appraise at. This can be a big mistake. If your house is listed at a price that is above the market value, you may miss out on prospective buyers.
When setting the listing price for your home, be sure that you and your agent are certain of the value of your home in your market and price it right. This will give you more showings and prospective buyers in the door.
The Home needs love
It’s hard to pay for home improvements when you won’t be around to enjoy them. Getting the full asking price for your home might involve some tender loving care. You can make cosmetic changes to your home that will not only make the home show better but will help you to get what you think your home is worth.
You should have amenities that are comparable to other homes for sale in your price range. Things that are easy to add or replace and not costly include a pull-down gooseneck faucet, an upgraded ceiling fan, a double bar towel rack, or upgraded door handles. These are simple inexpensive changes that may have a big impact.
You don’t have a second chance to make a first impression. Most buyers start their home search online and make a decision on whether to see your house based on the listing photos. The photos on your listing need to be professionally taken in a clean, well lit, uncluttered home. Believe it or not, a prospective buyer is going to look past a house that is priced right but looks poor in the listing photos.
Prevent losing potential buyers from online searches by having your house staged and professionally photographed. Staging a home doesn’t mean renting a bunch of furniture and knick-knacks. You can have someone come in and use your items to stage and declutter. This is well worth the money spent to sell your home more quickly.