It's a fact that houses sell in any market, but have you ever wondered why some homes seem to fly off the market while others linger? It can be frustrating for sellers and confusing for buyers. Understanding the reasons behind it can help you navigate the Real Estate journey, whether you are looking to buy your first or next home, or trying to sell your property.
✨Five key reasons why a home isn't selling✨
5. Ease of Showing: Accessibility is Key
The ease with which potential buyers can view a home and their agent can communicate with the listing agent can influence the buyers' interest. If showing times are super restrictive, access is limited, or availability is scarce, it can cause buyers to say Next! Similarly, a listing agent who is not responding to showing or disclosure requests (yes, it happens) can also cause the buyer to move on to a different property.
4. Poor Marketing: Getting The Word Out
Effective, targeted marketing is key to attracting qualified buyers. Has this property been on a secret mission to sell? Do potential buyers have a way of knowing that this home is for sale? Is marketing limited to some photographs of poorly lit, cluttered rooms? Are the listing description and details accurate? The other day, I noticed a luxury listing in a high-end neighborhood in Baltimore County. It was a magnificent multi-million-dollar single-family home that was listed as a townhouse! Potential buyers/their agents could have easily missed it when searching for detached homes, or dismissed it without investigating further. Sometimes, the devil is in the details!
3. Poor Presentation: First Impressions Matter
I always tell my sellers that they only get one chance to make a great first impression. Preparation and presentation are crucial! This is not something that should be rushed. Buyers will absolutely notice that hastily patched wall, mismatched flooring, skidmarks, dirty baseboards, etc. Cluttered, poorly maintained homes may turn potential buyers away before they even step inside. If they do decide to tour the home, it could leave them wondering what else has been neglected and what issues they could be facing moving forward. For best results, a home should be clean, staged, and inviting!
2. Adverse Conditions: What Deters Buyers?
Adverse conditions, such as being on a busy road, near industrial complexes, in a flood zone, or in a high-crime area, can deter buyers. These factors can create concerns about safety, noise, or overall quality of life. Ideally, concerns can be eased, or solutions can be found; if not, the price needs to take the adverse condition into consideration. It is never a good idea to hide the condition! If the power lines going through the rear of the backyard, or the train tracks nearby, are shown in the listing, you may get fewer showings, but the buyers that do come will already be aware of it.
1. Price: the Key to Attracting Buyers
It always comes down to price. Setting the right price is key to attracting potential buyers. Even a house with adverse conditions will find the perfect buyer if it's presented well, marketed, and priced right! I am not an advocate for overpricing to test the market. Chances are you'll end up selling for less than you would have had you priced it in the right range to begin with! I am also not a fan of severely underpricing a property to "generate a buzz". I have found this strategy to be off-putting to buyers, who wonder why they should even bother. Also, automated home value estimates are a guide at best! Please consult an experienced Real Estate professional to find out what you could sell your house for!
Understanding factors that influence home sales can empower both buyers and sellers in Howard County and the surrounding areas. If you are in the market for a new home or are considering selling your property, I'm here to help you navigate the process with confidence.
Feel free to reach out to me for a copy of my Home Seller's Guide, packed with valuable insights and tips to ensure your home stands out in today's market. Let's work together to reach your Real Estate goals: Andrea📲240.593.2860 or ✉️andreabedard.re@gmail.com
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