The real estate market is a big factor in determining how your home will sell. Whether you are marketing your house for sale by owner or using a real estate agent, unfortunately the market could be the determining factor as to why your home may not be selling. However, there are several things that ARE in your control that can cause your home to sit on the market for longer then it should. Ask yourself these four questions to evaluate and find a solution to a potential problem.
#1 – Is Your Home Priced Correctly?
Having your home priced correctly plays a big role in having a successful sale.
In many instances, sellers are emotionally attached to their home and feel that it has a much higher value then it truly does in the current fair market value. It is normal to feel emotionally attached to your home due to the memories you hold. Keep the memories, but realize a buyer does not share those same memories and want to see a more realistic price for what your house is worth in the current market.
Remember, think about the way a potential buyer would view your home and consider re-evaluating your pricing.
#2 – Does Your Home Require Costly Repairs?
Buyers are likely to not be interested in your home if they are going to have to pay for repairs that could cost too much or take a lot of time to complete. As a seller, you are likely to not want to drop your price but it may be your only option if you want to sell your home without repairing and renovating everything on your own.
#3 – Is Your Home Functionally Obsolete?
A buyer is not going to be interested in a house that is completely outdated. Keep in mind that buyers have likely looked at numerous houses and are aware of the current standards of a home.
For example, having a railroad style home where you have to walk through one bedroom to get to the other could be considered functional. However, this style of home is obsolete by today’s standard and buyers will continue their search elsewhere.
If this is the case, you should drop your price to indicate the needed updates or complete them yourself. You should always consider the age and functionality of your home, as this will affect the interest of buyers.
#4 – Is Your Home Attractive?
The importance of good curb appeal and your home staging is absolutely crucial when selling your home. This is, by far, the easiest thing to fix. Consider hiring a professional home stager who can assist in deciding where to put your furniture and any items to remove to make your home more appealing. You also need to have your home prepared for a showing at any time.
Although it can be frustrating having your home sit on the housing market for longer than you expected, there are things you can do to get it sold quicker. Consider the point of view of a buyer and offer a reasonable price while putting a little effort into making your home beautiful and attractive. By doing this you are likely to have a quicker sale.