Sometimes the real estate market is fickle, but other times there’s usually an issue that keeps buyers away. In this article, we’ll take a look at some common problems that could make your home more challenging to sell.
The Most Common Reasons a House May Not Sell
1. The Price
One reason your home may not be selling is the asking price. If a home is priced incorrectly, it will not sell quickly. A home’s price is determined by two main factors: the home’s location and the price for condition.
Selling your home isn’t easy, and you may be especially attached to it. But that emotional attachment could be hurting your home’s sale, especially if it’s priced too far above the market value of the home. One way to avoid/fix this issue is to take a look at real estate portals and check the prices for homes similar to your own near the same location.
Search through the real estate prices in your area, focusing on homes that are similar to your own. Estate agents offer guidance on the best sale price based on your property’s location, similar properties nearby, and the state of the property market. However, potential buyers could be put off if the price is either too high or too low.
Your house may not be worth as much as you think it is. It’s best to set emotions aside and consider having three valuations to determine the right price for your home in the current real estate market.
2. The Photos of Your Home May Be Poor Quality
Many homebuyers start their search online. They come across the agent’s site or a real estate portal and find pictures of several homes they’d like to consider.
The pictures used in the home’s advertisement are the first impression potential buyers have of the property. If the photos are poorly done, your home could be more difficult to sell. The goal is to show your property off in the best way possible.
If the photos seem to be the problem, it’s a good idea to have a professional photographer photograph your home. If that’s not possible, then it’s clearly time to request that the estate agent retake the photos.
Make sure the images don’t contain cars, garbage bins, and other items. It’s also a good idea to ensure the grass is mowed, any weeds are removed from the garden, and hedges are trimmed neatly.
Inside your home, it’s a good idea to turn on all the lights before the pictures are taken. Make sure your home is clean and tidy, too. All of this can make a big difference in the quality of the photos homebuyers will see.
3. Are There Other Ways to Advertise?
If you’ve hired an estate agent, it’s essential to ensure they list your property on the main real estate portals, such as Rightmove, Zoopla, and OnTheMarket. The benefit is that your home is viewed on several different portals and reaches more potential homebuyers through each site.
You may also want to consider advertising your home for sale in the local newspaper as well as on social media.
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4. Is The Home Neat and Clean?
If your home isn’t selling, but you’re receiving viewings, there could be something putting off buyers after they’ve seen your home. The problem could be that your home isn’t in good order. For instance, dirty dishes in the kitchen sink can put people off. Another issue is dirty clothes lying on the bedroom floor, and more.
Before each viewing, go through your house and make sure that everything is clean and neat. That means all beds should be made; the bathrooms should be clean, the kitchen should also shine, and more. Every part of your home needs to be clean and tidy.
Some people even put some cinnamon on to boil or use other methods to make yummy scents come from the kitchen.
Another problem homebuyers shy away from is evident damage to the home. The damage could be a problem with the roof or an interior wall with a crack. These issues could be structural in nature and will put off buyers. Some cracks and other issues are expected with the ageing of a home. If you have cracks in the walls that are not caused by structural problems, it’s OK to fill them and fix any other damage to your home.
All of this is a lot of work, but the efforts could be well worth it if you sell your home!
Overcoming a bad location can also be challenging. Some issues that cause location problems are being located near treatment plants, power plants, the flight path of a major airport, and more. These are issues that can cause a home to be devalued. If your home’s not selling and you have a location issue, it may be necessary to lower your asking price.
6. Is It the Right Time?
Most estate agents know homes sell faster in March, April, and May. So, what happens if your home is up for sale in November or December? The problem could be that your home is for sale during a seasonal slump.
The conditions of the real estate market can also make it difficult to sell your home. These are conditions beyond your control. However, it may be that you have no other choice but to sell your home during this time. That may be the case, but there’s another solution to consider when you need to sell your home fast.
The Solution to Selling Your Home Fast
If your home hasn’t sold and you need it to sell fast, there’s another solution. Sell your home to a cash buyer. With a cash buyer, it’s possible to have a legitimate offer for your home within hours.
When working with a cash home buyer, there’s no need to clean or repair your home. And you won’t have to deal with endless viewings. You also won’t have to wait, wondering when your home will sell. A cash home buyer can make the process stress-free and fast. They can take you from the offer to completion in as little as 7 days!
Can I sell my house on my own without an agent?
While it’s possible to sell without an agent, having one can significantly ease the process and help you navigate potential pitfalls.
How long should I wait before considering a price reduction?
It’s advisable to wait 60-90 days before reducing the price. This allows your house to gain visibility and gather feedback from potential buyers.
What’s the role of a home inspection in the selling process?
A home inspection is essential as it can reveal issues that may deter buyers. It’s better to address these problems proactively.
Are there specific seasons when houses sell better?
Spring and early summer are typically the best seasons to sell a house as buyers are more active during these periods.
What are some low-cost ways to improve my home’s curb appeal?
Simple measures like painting the front door, maintaining the garden, and installing outdoor lighting can enhance your home’s curb appeal on a budget.
Is it a good idea to offer incentives to potential buyers?
Offering incentives, such as covering closing costs, can attract more buyers, but it’s essential to weigh the cost against the potential benefits.