Has your property transaction ground to a halt? Are the offers simply not rolling in? Is this delay starting to cost you money?
If your house has been on the market for a while without attracting the right buyers, maybe it’s time to take a closer look to see if there is anything that could be holding you back. We’ve found six common reasons why your property might not be selling and what you can do to address them.
Reasons Your House Might Not Be Selling
1. Is Your Home listed at the Right Price?
Overpricing is one of the commonest reasons why your home just won’t sell. If your asking price is significantly higher than the market value, potential buyers will likely be deterred.
So, how can you tell?
You can consult a real estate agent. Or two. A local agent can provide you with a realistic assessment of your home’s market value based on recent sales data.
Do a bit of research. Compare your home to similar properties nearby that have recently sold. This will give you a better idea of what buyers are willing to pay.
What can you do?
Be prepared to be flexible. If your home has been on the market for a while, consider lowering the price slightly to attract more interest.
2. Does it look ready to sell?
The way your home is presented can make a big difference in its appeal to potential buyers. A cluttered, outdated home may not be showing your property at its best.
What can you do?
Declutter and depersonalise. Get rid of excess furniture, personal items, and empty out the clutter to create a clean and spacious feel. This makes it a lot easier for buyers to see themselves in your home.
Enhance your curb appeal. First impressions count – so make sure your home looks good from the outside – maintain the garden and landscaping, give the exterior a lick of paint, and sort any unsightly repairs.
Hire a professional stager. It may seem that this is only for the likes of the Kardashians, but a professional stager can help you arrange your furniture, choose the right colours, and add clever decorative touches to make your home more appealing.
3. Do your photos do your home justice?
Really good, high-quality photos are essential if you want to attract the right buyers online. If you’ve got poorly lit, blurry, amateurish photos can turn potential buyers off.
What can you do?
Get a professional photographer. They will be able to capture your home’s best features and show them in a flattering light.
If you decide to take your own photos, make sure they are well-lit, in focus, and capture the home’s unique features.
Use a wide-angle lens. This will help make your home appear larger and more spacious in photos.
4. Are you showing up online?
In today’s digital age, online visibility is crucial for selling a home. If your listing isn’t being seen by enough potential buyers, you may need to improve your online marketing efforts.
What can you do?
Check that your listing is optimised. You should be using keywords that potential buyers are likely to search for – don’t forget good high-quality photos and a detailed description also counts.
Don’t discount social media. Share your listing on social media platforms to reach a wider audience.
You could consider paid advertising. Paid advertising on real estate websites can help your listing stand out.
5. Location, Location, Location?
If your property is in a poor neighbourhood there could be negative factors – high crime rates, excessive noise, or poor infrastructure, that can put potential buyers off.
What can you do?
Research neighbourhood trends. Look for any recent developments that could be affecting property values.
Address potential concerns upfront. If there are any issues in your neighbourhood, be sure not to pretend everything is OK. Be realistic and honest.
Highlight the positive. Emphasise things like good schools, convenient amenities, or proximity to attractions.
6. Is it simply a buyer’s market?
If you’re selling your home in a buyer’s market, you may need to be more patient and flexible. The buyers have choices, and many more options to choose from. They may feel they are in a position to negotiate on price.
Don’t get discouraged if your home doesn’t sell immediately in a seller’s market.
What can you do?
Negotiation is key. Be open to negotiating on price or terms to ensure interested buyers stay keen.
Consider incentives – if you offer incentives to buyers – financing or closing cost assistance – you can make your home more appealing.
Conclusion – is a cash buyer the answer?
Some homes are just hard to shift. Many of the reasons above affect the majority of properties in one way or another – and although you can do something about most of them, it may be that your property stays on the market a lot longer than you would like or can afford.
One sure-fire solution is to find a cash buying company like Zapperty. An established cash buyer will not worry too much about many of the issues above – and although the price you get might not be as high as on the open market, the money can be in your bank account a lot faster by selling your home quickly – check out our process here!