Have you ever driven by a For Sale sign and wondered, “That house has been on the market for a long time, I wonder why it isn’t selling”? You might have asked that question because you were worried the same thing would happen when you put your own house on the market!
Often a home doesn’t sell for one of three reasons:
1. The price is too high.
Sometimes a homeowner will set the listing price exceptionally high in the hopes of getting lucky. What happens instead, however, is potential buyers stay away. In today’s real estate market, a house usually sells at a price that is near or over its market value. Fortunately, the current market value of your house – and, hence, its approximate selling price – may be higher than you realize. It’s worth getting a free market assessment.
2. The house doesn’t show well.
Sometimes a house is strategically priced for the market but doesn’t show well. It’s difficult for buyers to look past issues, such as clutter, and see the potential. In those cases, prospective buyers who view the property, don’t like what they see, and move on. If you put your house on the market, make sure it looks its best for prospective buyers.
3. The listing is poorly promoted.
Clearly, buyers won’t become interested in a property if they don’t know about it. The listing must be promoted effectively, and that involves more than a For Sale sign.