Do you have a listing that just won’t sell and you do not know why? There are many different types of home sales. The average home is on the market for 60-90 days. However, some homes sell the day they are put on the market, while others take well over 100 days to sell. So what causes the difference? Let’s take a look at the reasons why a listing won’t sell.
Is the home located along the water in a beautiful, beach neighborhood? Or is it next to that refining factory? Location is important not only to the value of the home, but to the quickness of sale. It will be quite hard to sell a home that is located next to an unpleasant site or something that most people do not want to live next to. However, it does not mean that the home will never sell. It just means that the seller and the agent will have to wait long enough for the right buyer to have an interest and accept the property for both its good and bad aspects.
2. Did You Throw a Great Open House
Open houses are crucial to selling a home quickly. With the right open house, a home can sell within the first day on market. However, with an ill-planned open house, you are likely to get visitors who want to leave right after they take a look inside the home. As an agent, you need to get the tenant or homeowner out of the home and prep that house like no other. You want to make an open house that it beautiful and memorable to the prospective buyers so they think about it long after they leave the residence. There are lots of ways to ruin an open house, so do your best to make the home as inviting, clean, and friendly as possible for all of the guests.
3. Did You Take Horrible Pictures?
How about instances when it is a newer home, in a beautiful neighborhood, with no issues, and it just won’t sell quickly? If that sounds like your current situation, or a situation that you have been in, you know how frustrating it can be when the perfect home will not sell. Well maybe it’s the horrible pictures that you took of your listing. Did you use an outdated camera? Did you upload tiny or blurred images of the home from your cell phone? Did you not bother to get a good angle of the home with plenty of pictures of both the exterior and interior? 90% of buyers begin searching for homes online before they actually see the home in person. So you’d better get into photography or your listing is never going to sell.
4. Are You Bad at Marketing
If you took great pictures, what are the reasons it will not sell? Well, did you just put it on the MLS and just wait for other agents to bring you a buyer? This is a terrible plan. As an agent, you must market a home in all kinds of different ways. 73% of home buyers said that Internet videos helped influence their decision to buy a home. So whether you utilize online marketing, videos, pamphlets, emails, or social media posts, you need to get the word out about the perfect home you have for sale.
5. The Home May Be Overpriced
Yep, as simple as it is, your listing might be overpriced. It may be a few thousand to just a few hundred, but buyers are smart, and they do not want to be cheated no matter how perfect the home is. Even if a home is new, beautiful, and incredibly accommodating to a family, it still should be priced reasonably according to the neighborhood and adjacent homes’ cost.
If none of these reasons are why your perfect listing will not sell, give it time. Even if it has been 2-3 months, there is a buyer out there who will purchase the home. Just continue to market it in the best ways that you know, and the right buyer or agent will see the listing and call you.