Sometimes a great listing hits the market and just doesn’t sell. Sometimes the reason is easy to pinpoint, but other times it takes some work to determine what the problem is. Here are some of the biggest reasons your listing may be stagnating on the market.
Dirt or Clutter
Potential buyers can’t fall in love with a house they can’t see. Make sure your listing isn’t buried under furniture, knick-knacks, and laundry. Also make sure everything from the floor, ceiling, and walls is spick and span.
If your listing is clean and clutter free but not selling, you may want to consider staging. Staging has been found to not only decrease the amount of time a listing spends on the market, but also to increase the selling price. Find staging tips here.
The initial listing price of a home is instrumental in how quickly it sells. Many sellers assume setting the price high and coming down later or being willing to accept a reasonable counter-offer if they don’t get much traction is a safe way to ensure they get the highest price for their home. In reality, starting with a high listing price just ensures that the buyers who are most compatible with the listing either don’t see it or move on because it’s outside what they’re comfortable paying. The buyers who are looking at homes at the price you set will see that there are other houses at the same price with more expensive upgrades.
If your price is right and your listing is clean and clutter-free, there may be a problem with your listing details. For example, an extra zero can turn your $350,000 listing into a $3,500,000 listing, where it’s probably not going to get much traction. Double check to make sure your information is accurate, the description is interesting and informative, and your photos are appealing and numerous.
If everything looks great and you’re getting calls on your listing but haven’t had a lot of showings, there may be a problem with your availability. Look for more ways to accommodate potential buyers when they request a showing.
If everything else seems in order and your listing still isn’t selling, the problem may be the house itself. According to the 2016 NAR Profile of Home Buyers and Sellers, only 19% of buyers were willing to compromise on the condition of the home. Major repairs such as a new roof or updated water heater may be necessary to attract a buyer.
Know of other reasons your listing isn’t moving? We would love to hear from you in the comments below.
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