As you have listed your home in the market and a certain period passes, you will come to ask: Why can your home not end up in a sale? While you have done what you think was enough, in the end, your home is still in the market and is still waiting for a potential home buyer. There are several reasons why your home has not ended up in a sale, and here are five of those reasons:
1. Poor Marketing
- Yes, you listed your home in the market but it does not even attract potential home buyers. How come it is in the market yet no one knows it is even for sale? It is a bit obvious but it does not mean that if you put your home or property in the market, home buyers will immediately get a notice about it. It does not mean that if you put a “for sale” sign in your front lawn, that people will start showing interest in purchasing your property. You will always need to properly market your home. Proper marketing involves constant exposure to your property. It would be better to hire a real estate agent since they know how to properly market your home to the market. You can also use advertising through newspapers, radio or other media sources. This can get hold of the attention of homebuyers who read and listen to these media sources.
- We do know that some potential home buyers would like to see the home or property personally after seeing it in advertisements or in the market. Even a real estate agent would find it very difficult when he/she can not convince a home seller to let any potential buyers see it personally. Even if it ended up as a coincidence when you were busy or something came up, or simply that you don’t want other people stepping inside your home while you are in it, would not just be a burden for you but your property may not even sell because most home buyers want to see and feel the property personally.
- This is the most common mistake that home sellers commit. They are either too attached to the property or they just don’t know the value of their property in the market. If a home is priced too high, it will definitely not sell. You should hire a real estate agent for this since they are well equipped with the right knowledge regarding your home’s value. As well as what it would be priced in the market since your home might have similar properties to it. It would be best to compare its price to several similar properties so that you won’t lose your chance of landing a sale. You should also avoid being too sentimental to your home. Yes, we know that you have spent years in your old home and that you have experienced life-changing events that transpired within it. It would hurt you to leave it but you will need to let go if, for example, your new job was a city away from your home. It really is dependent on the circumstances you have in life. So, at the end of the day, try to place your price near its value and also make sure you will not end up having negative equity.
- Your home exterior is your front line when any potential home buyer ends up driving into your home to see it personally. Others make sure that the front door has a bright or lively color so that it would smack the attention of any potential home buyer that would go or pass by it. Making sure that the outside look of your home is good enough to make sure that any potential home buyer would look twice. It is important to check this during the home staging period. This is so that you might increase your chances of selling your home if it has a better landscape compared to others.
- This is a bit of a bad sign when you have a potential home buyer who personally goes to your property and finds out that it has a certain smell that is not healthy. But do not treat this as an irrelevant topic because a lot of potential home buyers end up not going back to a property they have seen since they already experienced having to smell something horrible. This would be a disaster.