Why isn’t my home selling?

A question that many homeowners find themselves asking. While every situation is different, there are a few key things that typically have a big impact on selling a home. Lets take a look at a few.

Price-Price-Price– Let me say it one more time, just to be clear, PRICE!! It is so important to price your home correctly. As your agent I will bring an analysis of why I think your home should be priced at my recommended price. Basically, I am giving you a priced based on my interpretation of the current market. This is not a number that should be taken lightly! The vast majority of homes that sit on the market for long periods of time were priced incorrectly. A common misconception I hear all the time is “Its better to start high and come down”. This is actually an incorrect statement. By pricing your home correctly you are more likely to draw more serious buyers to your home at the start. The more buyers you have, the more urgency you can create. This urgency will entice buyers to make their offer, not only stronger, but sooner. When a home sits on the market for long periods of time, sellers loose their competitive edge in the negotiation. If a home has been on the market for long periods of time, buyer’s eyes will light up looking for a deal. Every time a seller is required to lower the price, the negotiation turns more in favor of the buyer.

Market Conditions– This is more difficult to combat. There are so many factors that effect the financial situation of buyers. In 2020 interest rates were at rock bottom. This allowed buyers more power to purchase more house than what they could with a higher interest rate. Now as interest rates have turned in a new direction buyer are losing that buying power. They are having to settle for less home than what they could have afforded a few years ago. The economy is also loitering around the housing market. People begin to question what the next few years will look like and might hesitate on making that investment in a new home. These are all things that should be taken into account at the start to try to compensate for where the market stands on the day your house hits the market.

Property Condition– Every home has seen some wear and tear, some more so than other. There may be things in your home that you might not see as an issue, but buyers may not see it the same way. Making the right upgrades/repairs to your home might just be the difference between selling at your list price or selling significantly lower. When buyers walk through a house they are making a mental checklist of all the things they need to fix. The bigger the list the more overwhelmed they will become. While that $20 repair didn’t feel necessary while you were there, the potential buyers may see it as another line on the list.

Curb Appeal-Its a natural reaction of people to seek out the homes that look nice from the road. When your home first hits the market, buyers will typically do a drive by to see if they are interested. This is the first and possibly last impression that you will make on buyers. Landscaping goes a long way in making your house feel like a home. Pull those weed and keep your yard looking sharp.

Marketing and Exposure-I hate to state the obvious, but, if no one knows your home is for sale its unlikely to sell. Getting your home in front of as many people is crucial. But lets be more specific, your home needs to find as many potential buyers as possible. How do you find those potential buyers? You hire the professionals who are constantly evolving and finding new ways to make sure homes are showcased and marketed in places that buyers are looking. Let Venture Group take care of this step on your behalf.

I’ve touched on a few basics but one of the easiest ways to avoid this issue is to call us from the very beginning. Allow us to guide you through the venture of selling your home. The average person sells three homes in their lifetime. We do this every day. We can help you price your house correctly and advise you on what you can do to make your house sell as quickly as possible. Let us be your guide, reach out today.

“The secret to my success is that we have gone to exceptional lengths to hire the best people in the world.”

-Steve Jobs