6 Reasons Why Your House Is Not Selling
by Thomas Myers on May 17, 2022
As soon as you decide that you need to sell your house, time starts to fly. As of June 2021, the National Association of Realtors (NAR) reported that American homes spent an average of 24 days on the market and 43 days on average to close on a mortgage. That's a little over two months from the day of listing to closing.
Of course, every sale is different. Depending on the market conditions, the house itself, and the individual sale, yours may sell sooner or later than that. However, if your house has been gathering dust on the market for over two months now, you may be doing something wrong.
The great news is that there are steps you may take to remedy this. With a bit of insider information, you can make simple modifications that will pique the curiosity of potential buyers. Here are some of the reasons your house is not selling, so you may try to solve the situation.
1. YOU ARE ASKING TOO MUCH
The asking price is the most important aspect in determining whether or not a house will sell. Since some buyers negotiate lower prices, most sellers will offer their property at a higher price. However, most homebuyers don't search for houses for sale requiring price negotiations; they don't have the time or patience for such activities.
Therefore it's not wise to ask for a higher price assuming buyers will have the tolerance to negotiate with you till you reach the amount you actually want. Always do extensive research. Consult with your real estate agent, have your house valued, and look at how much similar properties are selling for.
2. YOU DIDN'T TAKE TIME TO PREP IT FOR SALE.
If you leave holes in walls, rusty roofs, and other lingering issues, buyers won’t be interested in your property. Take time to fix the problems before putting the sale sign in the yard. On average, most homeowners take 2-3 months to prep their houses for sale. Please talk with your estate agent, and let them come in and tell you what you need to do.
3. BAD REAL ESTATE AGENT
Sellers select realtors for various reasons, including referrals, memorable marketing, and a basic connection established during the first encounter. But not all real estate agents are the same. Some are in it to help homeowners move houses; some are just after the commission, while some are just incompetent.
You can tell if your realtor is good at their job from little details like how well they communicate, the photos of your house they use in their marketing efforts if they show up for meetings on time, etc. the bottom line is, find a good real estate agent to help sell your house faster.
4. LONG CHAINS
Many property sellers are always part of chains that entail buying and selling homes at the same time. If the realtor in your area is part of a large chain, your house will take longer to sell. Similarly, if you receive an offer from someone who needs to sell their property first, don't expect a quick sale.
While most residences are sellable, others take a long time to market for a variety of reasons. Check the average Days on the market for homes in your area to get a sense of how long it will take to sell your house.
5. YOU ARE TRYING TO SELL THE HOUSE ON YOUR OWN
There’s nothing wrong with going by the “for sale by owner” route, but you must be prepared to do all the marketing, staging the house, and researching the right price solo. You must also face the fact that you don’t have as many connections and experience as an estate agent, and therefore your house will take longer than average to sell.
Frank Morgan from We Buy Houses Denver says, “If you want a quick sale of your home, use a real estate agent that’s actively selling properties in your area. They will always have experience and tricks up their sleeve that helps move your house faster and for a good price”.
6. WRONG TIMING OR LOCATION
Timing and location are two of the most essential variables that influence house sales. Certain times of the year are better for selling houses than others. Always talk to your real estate agent to find out when to list your house for sale. You want to do it when the market is hot and inventory is low.
When it comes to location, if your house is not in a desirable location, try enticing buyers by making the house pristine and reducing the price a little. Also, schedule showings when the neighborhood is a bit quiet and serene.
There could be several reasons why your house isn't selling. Using the information listed here, you can identify major obstacles that homeowners face and recommendations for selecting the right agent. You can also increase the marketability of your home using this information.
Three Places to Spend Money on the Exterior of Your Home
When you have the exterior of your home remodeled, you are investing, time, energy and convenience into the project and you want to make sure that...
When to Use a Brush, Roller or Sponge Brush
Brushes are a good choice for painting trim and woodwork. They are also useful for cutting in the edges around the top and bottom edges and corners...
Homemade Headboards-Make an Upholstered or Wooden Headboard
Homemade headboards can add a lot of personality to any bedroom. They can be coordinated with existing furniture and room decor or they can be the...
Creating a Cottage Kitchen with Bead Board
Kitchen decor can range from modern and bold to elegant and elaborate by using strategic kitchen pieces. One of the most popular decorating trends...
Gas Fireplace Diagnostics and Troubleshooting
Follow these steps for diagnosing and troubleshooting Gas Fireplaces repairs. For the average DIYer, this may seem intimidating, depending on the...
Navigating Singapore's Property Regulations: A Guide for Foreign Investors
Singapores property market has been attracting foreign investors for many years, thanks to its stable economy, strong legal system, and transparent...
on Mar 22, 2023
What Truck Size Do I Need to Move a 3-Bedroom House
Moving to a new home can be a complex and stressful process, but with the help of the right truck size, you can make it a smooth and seamless...
on Feb 13, 2023
Five Tips to Take Better Care of Your Basement Insulation
Basement waterproofing is an essential part of home maintenance, as it helps to protect the basement from moisture, flooding, and other...
on Feb 12, 2023
Homeowner In The UK? Here's Why You Need to Know about Rainwater Drainage Systems
In the United Kingdom, there is an average of around 1,200 millimeters of rainfall annually. Keeping rainwater out of your home and away from your...
on Feb 2, 2023
What are the Advantages of a Metal Roof
Metal roofing is durable and beautiful, allowing a home to stand out from others with conventional tiled roofs. A metal coating can last a...
on Feb 1, 2023
What Type of Licensed Contractor Should You Hire?
on Feb 28, 2017
Hire Contractors / Estimates
Looking for a specialty project? There are many types of contractors available for your home improvement needs. Finding the right type of...
Real Estate Investment for the Next Generation
on Oct 18, 2022
Real Estate / Finance
Investing in real estate is something that people have been doing for a long time. Most people invest in a home, so they can stay at the home. This...
Real Estate Investment for Future Generations
on Mar 14, 2022
Real Estate / Finance
Purchasing a home is not simply a financial commitment. It is also an excellent way to start accumulating your wealth. Your home is also a...
Can I Sell My House with a Leaky Roof?
on Oct 28, 2021
Real Estate / Finance
The answer to this query is YES. It is possible to sell a house with a leaking roof, but it's always essential to evaluate some factors before...
- Garden / Landscaping / Patio — 260
- Kitchen / Bathrooms — 239
- Real Estate / Finance — 195
- Appliance / Repair — 185
- Interior Design / Decor — 183
- HVAC / Air Conditioning — 147
- Cleaning / Maintenance — 143
- Improvements / Remodeling — 131
- Plumbing / Basements — 118
- Floors / Tile / Hardwood — 115
- Doors / Garages — 113
- Safety / Security — 112
More DIY Articles
5 Reasons Heavy Duty Construction Equipment Should be Part of Every Household
There is an interesting sight to behold in our neighborhood: a wall kept together by ropes and cables. No, this isn’t a ramshackle neighborhood....
5 Ways to Reduce a Household’s Environmental Footprint
A homes environmental footprint refers to its overall impact on the environment, both in construction and when being inhabited. This includes...
These Bathroom Trends Will Become More Popular in 2021
A recent Houzz survey found that on average people spend 30-60 minutes a day in the bathroom. That’s the equivalent of 8-15 days a year – the same...
Summer Time Does Not Have to be Bug Time
The joy of summer is often mixed with the dread of having to deal with bugs. It often seems that the moment summer arrives at your home and garden...
Problems with Frozen Locks and Solutions
Many things related to door locks might annoy us, but when the weather is truly bad and you just want to open the door and get by the fire, the...