Why hasn’t anyone bought my house yet, or even made an offer on it? If you are asking yourself this question, its likely your nerves and patience are being tested. In most cases it’s not a single reason why your home isn’t selling but a combination of factors. Today we will be probe into several reasons why you’re experiencing an absence of offers.
Why Hasn’t my House Sold Yet?
Why isn’t my house selling? Waiting for the right buyer with the right offer for your home can be a stressful anxiety-filled waiting period. Emotionally, the constant cleaning, organizing and preparing for showings and open houses and the subsequent let down as no offers follow can be draining. People seem to be less patient than they used to be. And when something as significant as the sale of your largest asset is at stake, the sale of a property can be a nerve-wracking experience.
Financially, depending on your unique circumstances, the bills keep rolling in as the days pass. The utilities, insurance, and taxes must all still be paid. And if you’ve had to relocate, you’re now carrying the burden of paying and caring for two separate properties! If the days are transforming into weeks and months, it can become downright depressing as each day passes. So why is your property taking so long to sell? Instead of just one reason, its likely there are many reasons why your house isn’t selling.
Let’s be solution-focused. It may be time to make a change! When a listing lingers on the market, something isn’t quite right with your listing. And when something just isn’t working, you fix it. Given that you have mere seconds to capture the attention of the average home buyer, no one fix is more important than the other. Each element matters when you list your home. By learning these six reasons your house isn’t selling, you can make better-informed decisions and finally reach the goal of selling your home.
Is Your Home Overpriced?
When buyers are researching homes to purchase, they become intimately familiar with the best neighborhoods and locations and educate themselves on pricing. They will almost certainly get a list of similar properties to yours that have already sold. If the features, location, and other determining factors don’t add up to your asking price, then this is most likely the reason your house isn’t selling.
While buyers are willing to make offers lower than the asking price, they don’t want to deal with the discomfort of coming in with an offer so far below the asking price that it would appear insulting. Overpricing equates to starting on the wrong foot with your listing. Setting the price right from the beginning is the best way to limit the time your home sits on the market waiting for a buyer.
We have had experience with realtors who suggest listing your house at a high price because its a sellers market. But if your house does not garner immediate interest or an offer, it will languish on the market. And the longer it sits, the more people will wonder what is wrong with your home. Its best to price your house fairly and generate early appeal from all the house hunters out there. Do not waste the opportunity you get from being the ‘new kid on the block’.
Outdated
When buyers are walking through your home, they have expectations built around the latest technology and most up-to-date modern features of a home. You may need to renovate and update the elements of your home, from countertops to appliances and convenient features that meet the demands of technology. While you may love the wallpaper you’ve had since 1972, it’s turning off your potential buyers and could be the very reason your Edmonton house isn’t selling.
Repairs
If apparent repairs are needed, this is likely why your Alberta home isn’t selling. The majority of buyers seek a home ready for their family to move right into and begin their new life. Additionally, as you may have already learned, bargain hunters typically include contingencies asking for credit against the cost of repairs. These deductions make the offer come in far below the home’s value, even with the need for repairs. Unless your home is brand new, there are likely to be some repairs you’re aware need to be completed. However, being oblivious to a problem doesn’t free you of the responsibility after the sale. You should keep in mind the consequences of failure to disclose in traditional home sales, even when you were unaware, can be extremely costly if you end up in court.
Bad Advertising
Advertising is a multifaceted endeavor. Not only must the photographs associated with your listing be of top quality, but buyers also have expectations of virtual 360 tours, which require the services of professional photographers and drone pilots. The write-up needs to entice them with a fascinating description of the property to keep their attention on your listing. If you or your real estate agent haven’t taken advantage of the vast pool of buyers offered by optimal advertising reach and content, this may be the reason your property isn’t selling.
Staging
Have you removed any personal items? Staging is widely used in marketing homes today because it gives the buyers a blank canvas to imagine themselves occupying the space. If your family photograph is on the mantle, or your favorite color tone of blue is on the walls, it can prevent the buyer from picturing themselves living in the home. Using neutral tones and removing some of your belongings visible during walk-throughs can vastly reduce the time on the market. If it appears to be someone’s home already, this is a potential reason your house isn’t selling.
Availability
All of the steps involve professionals leading up to listing, open house, and showings, and finally, the inspections and appraisal all include appointments. The meetings equate to time out of your busy day, and showings mean prepping the home to look magazine perfect at the drop of a hat. If you’re unable or unwilling to make your home open and available with a moments notice, then you probably found the reason your house isn’t selling
Why wait or worry? Sunrise Home Buyers will pay you a fair price, even if your house isn’t selling in Edmonton, Red Deer, Sherwood Park, Spruce Grove, Stony Plain, Calgary or anywhere in Alberta in between. Find out how we can help solve your problems! Sunrise Home Buyers makes it easy, just call (587) 982-7576 or send us a message today.