There is nothing more frustrating than needing to sell a home quickly, and not receiving a single showing or offer. While the seller and buyers markets can fluctuate frequently, the way you’re attempting to sell it could also be a part of the problem.
Below, we’ll discuss reasons as to why your home isn’t selling, and how you can fix them.
Your home needs some improvements.
If 80% of the homes in your market aren’t selling, then your home needs to outshine the top 20%. A good place to start is looking at pending sales data for homes around you that are going under contract. The pending sales data will let you know what the market is looking like now, rather than looking at closed property information that might’ve been delayed in releasing for a few months. After you’ve done your research, get into the nitty gritty of how you need to stand out. For example, if the top 20% of sellers in the market have new flooring, and your flooring is dated, your home isn’t going to sell.
You need better visuals.
Think about when you’ve looked at homes to purchase, or even apartments and condos. Chances are, the ones that stood out to you were the ones that had the best photography. The higher quality photos and videos you have, the better chance you’ll have of selling your home quickly. You can either hire a professional photographer, or take the photos yourself with a high definition camera. If you’re planning to take photos yourself, make sure you shoot wide angles with plenty of light, as it will showcase your home’s best features. Make sure you capture all bedrooms, and highlight areas that are unique to your house specifically. We also suggest moving furniture around to allow for more open space, and using mirrors as a way to open up the room. And last but not least, add descriptive captions to each photo, so the potential buyer has a better understanding of your home’s layout and features.
You need to step up your marketing.
It’s not so much about how to sell your home, it’s about where to sell your home. Oftentimes homeowners aren’t maximizing their presence both on and offline, which means limited visibility for potential buyers. There are a few creative ways you can optimize visibility. Consider distributing flyers or postcards, or hiring a virtual tour company to photograph and upload videos for you. You also might consider holding open houses, because you’ll be able to get feedback from potential buyers in real time.
You need a different agent.
Listing agents are not a one size fits all solution. Every homeowner’s wants, needs, and preferences are different. Be weary of discount agents, as they don’t usually have a lot of time and effort to put into marketing, and they’re paid on salary instead of commissions. Also ask yourself a few questions, like “Do we communicate well together? Are they keeping you informed on a consistent basis? Have they been selling a lot of properties?” If the answers to these questions start entering ‘no’ territory, it’s time to switch.
Your home isn’t priced right.
Incorrect pricing is arguably the biggest reason why homes don’t sell at the rate the homeowner’s think they would. While you don’t want to ‘give away’ your home, you also don’t want to overprice it. In a buyer’s market, your home should be priced at a minimum of a percentage less than the last similar sale. If that price doesn’t sit right with you, then don’t list your home — it’s a set up for disappointment.
If you need to sell your home quickly, Home Buyers Express can help. With just four simple steps, we can purchase your home in Maryland for cash, and avoid all the nuances of traditional moving such as closing costs, inspections, etc. Contact us today!