You have prepared to get your home on the market, carefully selected your realtor and launched it on the market... and then... and then... NOTHING. While we all would love a quick sale when we list, the reality for some sellers is that their homes may sit on the market much longer than others. If your home is on the market for sale and you aren't getting much showing traffic or you are getting traffic but no offers, below are some reasons that may explain why.
First, it is worth acknowledging that when a home isn't selling like others in the immediate area, there are usually a couple of different culprits, but typically there is one dominate one. Now, if other homes are also not selling, there may be market influences that are causing slower sales in your area.
Not priced right
Pricing your home if always a bit of a challenge because we only have history to help with these decisions... and we all recognize history is not always the best predictor for the future. While we would all love to get as much as we possibly can, one of the main reasons why a home doesn’t sell is because the price is too high. I was once asked by a customer why buyers didn't just come and look at overpriced homes and make a low offer. The reality is that buyers are busy with a lot of homes to choose from and often don't want to "waster" there time on homes that are priced out of their reach or in situations where they may believe a seller has unrealistic expectations.
Your agent should be able to help and guide you on an appropriate price based on the local comps, the condition of your home, and any recently sold homes in the neighborhood. But if no one is interested in your home at the price you want, it’s best to reevaluate what you’re asking for. Cutting the sale price can attract a refreshed batch of potential buyers that may have been previously disinterested.
The home not showing it's best
When it comes to selling, you’ve got to make sure your home or property has a certain allure to it to as many buyers as possible, especially if it’s been sitting on the market for an extended period of time. While you don’t need to resort to remodeling or tearing down walls, make sure it’s clean, there’s no clutter, and if you can make small cosmetic improvements to those areas that might not be at their best.
For the vast majority of those looking to buy, an unattractive home will not entice potential buyers through your front door. Your agent can provide some suggestions on what you can do to add a little ‘oomph’ to your home, especially if there’s no current interest in it. Generally speaking light and bright spaces that are clean and uncluttered tend to allow potential buyers to visualize what it might be like for them to live in a home. Homes that have a number of noticeable areas of wear and tear cause buyers to start calculating the physical and financial means it will take to get that home the way they want it... that will scare a good number of buyers away.
Poor listing photographs
With a large number of buyers beginning their home search online (an estimated 90+%), it’s imperative to you as a seller to have quality listing photos of your property and the immediate community. Whether you like it or not, many potential buyers will judge your home off the listing photos alone, so you’ve got to make sure what you put on the Internet shows your house in its best possible light. Don’t take pictures on your phone; make sure professional photographer who specializes in buildings takes your listing photos.
You also want to make sure you have a good amount of pictures, especially of the most important rooms in the house as well as any items that could act as a highlight for the home. A walk through video may also help give online buyers a feel for the layout of the home, which is important. In the Naples area, the community is also a big factor in home selection, so make sure you have some good shots of the setting of your home and the community around it. Pictures are a huge asset when it comes to selling, so make sure your pictures are exceptional.
Tough to show
A lot goes into selling a home, especially on the part of the seller: prepping for the sale, keeping the home clean, accommodating open houses and showings, and a slew of other tasks and duties that take time and are not generally easy. When it comes to selling, flexibility is key. If you’re unwilling to accommodate showings throughout the day (specifically in the evenings and on the weekends), it’s going to be very tough for buyers to see what you have to offer. Buyers want to see a home when they’re truly interested in it - if you prevent them from having a personal peek at your property, you could possibly be turning away someone that wants to buy your house. I tell people all the time, a buyer isn't likely to wait for your home to be available. And, as much as we might post that 24 hours notice is preferred, they may still ask to see it the day or or moments before. They will pass it by in consideration for other properties. Be flexible and don’t make it extremely difficult for a potential buyer to check out your home. Having it in constant showing condition is tough but will pay off in the long run.
Being too attached
If you have a large emotional attachment to your home, it can be hard to remember that you’re selling ‘a house’ and not ‘your home.’ Emotions play a big part in homes and families, and when the family home is on the market, it can cause some emotional issues. When these come into play, it can be hard to accept offers that might not seem ‘good enough’ or don’t match the personal value you’ve attached to the property.
When you sell your home, you’ve got to remove the emotional attachment. You may feel inclined to keep all your personal items out and on display, because they’re part of you and your family, but too much personal clutter can deter even the most ardent buyer, and it doesn’t help you separate the ‘home’ from the ‘house.’ Minimize pictures, trinkets, knick-knacks, and other personal items that are hindering you from accepting an offer, and maybe hinder a buyer from seeing the house as their home.
If your home has been on the market for a while and hasn’t garnered a lot of interest, it may be time to reevaluate your current strategy. If you know you’ve fallen victim to one of the items listed above, take some time with your agent and determine what the best course of action is. There are buyers out there that want to buy your home, you just need to find the best approach to getting them through your door.
NAPLES REAL ESTATE BLOG
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