Why Is My House not Selling? Common Reasons Buyers are Not Interested

By
Real Estate Agent

If you (or one of your clients) have a house listing that is not selling, you are not alone. In the current economic condition, the market is quite challenging especially for home sellers. You might have noticed that even some attractive homes are sitting unsold in the market for longer than expected. Selling your property involves ample preparation, planning and timing. Therefore, it is vital to avoid being sloppy when putting your house on the market. It is especially important to ensure that your house stands out by simply asking yourself why your house might be chosen over other houses for sale in the area.

Here are some of the reasons why your house is not selling;

1. Poor Marketing

Your property might be lagging because the community of brokers and buyers in your area has no idea that it is on sale. For instance, your home might be underexposed because it is not listed on the Multiple Listing Service (MLS) in your area or major real estate search engines. On the other hand, some housess are hardly made available for viewing due to excessive restrictions during showings, turning down showing requests or requiring too much notice prior to showings.

Good photographs and videos matter. Therefore, before recording videos or taking any pictures of your home, you should ensure your home is properly de-cluttered both inside and out. Moreover, it is vital to take quality photographs or hire professional photographers who can shoot wide angles in order to showcase your house’s best features. Taking several quality photos of your house is a sure way to get noticed especially because more and more people are searching for property online. The photographs and videos should be accompanied by clear, precise and honest descriptions of your house.

2. Incorrect Pricing Strategy

Homes that are priced too high discourage interested buyers from making offers. Therefore, if your property is overpriced buyers are likely to move on. In order to avoid overpricing a house, the seller should be realistic when setting the price and examine other comparable sales in the area (comparable market analysis). Nobody wants their property to sit unsold in the market for several months.

3. Working with a Bad Realtor

You need to work with a realtor who is experienced, competent and honest. Therefore, when choosing an agent your decision should not be based solely on how much the agent is charging. There are other important considerations to be made such as their social media presence, strategic marketing plans and references (referrals) from family and friends.

4. Your house is in a bad condition: glaring issues that need to be resolved

Big issues can cause your house to sit unsold in the market until the issues are fixed or a credit incentive is offered to offset such issues. On the other hand, the seller can reduce the price of a house that has major issues in order for the bargain to worth the hassle. Banks might also be unwilling to finance buyers if properties have major issues that are too costly to fix. Some listings are sabotaged by minor fixable issues simply because sellers are not willing to admit that such issues are the main causes of the problems.

5. Insufficient Curb Appeal

The first impression is created as a prospective buyer approaches your house. Therefore, you should not focus all your attention and effort on the interior aspects of your house. Trim the hedges, tidy gardens, and cut the lawn. You can also do basic repairs that will improve the finish at a little expense. This includes filling cracks, polishing/replacing door handles, touching up paintwork, cleaning windows, and removing mould. You can also reseal around sinks, the bath and shower. However, it is vital to ensure all running repairs are completed in time.

If you are selling a potential family house, clean and air the house thoroughly especially when there are some freshly painted areas. Uncluttered and clean houses are most appealing to a broad range of potential buyers.

6. Bad Location

There is not much that can be done if your house is located in a bad area. In most cases, it is quite hard to get qualified prospective buyers in the area. Therefore, this can be a major drawback because the property remains unsold in the market for longer than the seller expected.

If you are having any trouble selling your house, and it is not due to any of the reasons listed above, you can have an objective and neutral third party make suggestions. Always remember that even simple things such as mildew, bad odors, general tidiness of the house or a cat or dog smell can affect how prospective buyers view your property.

 

Comments (1)

Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, it is can be one of those reason or few of them. Yet, pricing is usually the key, even with the best team of agents and best marketing, it is extremely difficult to sell overpriced listing( unless, it is unique one~ in that case, pricing it can be tricky as well as finding a right buyer).

Nov 08, 2014 05:42 PM