Selling a home can be nerve-wracking, especially if you haven’t received an offer or even a request for a showing. You might’ve thought that luck just isn’t on your side, but you can actually do something to turn things around.
Before we discuss the solutions, let’s identify the cause of the problem. Here are five possible reasons why your home isn’t selling.
- The price is not right
Your home’s curb appeal might grab the attention of buyers, but the selling price is what makes them stay. Your property might be overpriced, thus driving away potential home buyers.
In this case, don’t adjust the price of your home for the sake of getting it off the market. Price it to sell. Re-examine the comparative market analysis (or request for one if you haven’t) and zoom in on the recent comparable sales in your area.
Based on these figures, adjust the price of your home. Ideally, it should be less than the most recent comparable sale. For instance, sell your home for $550,000 if the last three homes fetched for $600,000. You can modify the price accordingly based on the square footage and location of your home.
- It’s not up to par with other homes in the market
Perhaps the reason your home isn’t selling is because it can’t compete in the market. It could be that it’s old and in a less-than-stellar condition. The curb appeal might be lacking. Your home’s features might also be dated and just not up to today’s standards.
A home inspection can help you identify areas you need to update or repair, but for your home to stand out in the market, visit houses for sale in the area that are currently under contract. Find out what these properties have that yours lack.
Armed with this vital piece of information, you can get to work. If you need a second opinion, sit down with your agent and determine the updates that have the most returns on your investment.
- You’re working with the wrong agent
Maybe you picked the wrong real estate agent to work with. It happens. It could be that that your agent doesn’t specialize on your neighborhood, or they focus on specific types of properties.
If this is the case, don’t feel bad about letting your agent go. Then, set your sights on someone who will help you meet your goals. Want to sell your home fast? An expert on quick turnovers will do great. If you want to leave the rest of the work to the professionals, work with a full-service brokerage.
- Your listing photos could be better
The house might not be getting the attention it deserves because the photos that represent it are lacking. And in this day and age, when most home buyers begin their search online, it’s important to make a great first impression on the internet. Beautiful listing photos would help.
You don’t need to hire a professional photographer to do the job. Use a high-megapixel camera (your iPhone might do the trick!) with wide-angle lens to take photos of your home. Showcase its best features. Stage your home a little and rearrange some of the furniture to show more space. Take pictures of all the bedrooms in the home, and don’t forget to show off the yard and landscaping.
The final touch would be to add a short but sweet descriptive text to each photo. Tell the story of the space, and what it would be perfect for.
- You’re not doing enough marketing
Maybe your home is not selling because you’re simply not doing enough market. If this is it, it’s time to double down on your efforts to let know buyers know your home is up for sale.
There are several options you can explore. Printing and distributing flyers, pamphlets, and four-color postcards can help you attract prospects. For potential buyers living outside the state or abroad, a virtual tour would help them get to know your property better.
You can also host open houses regularly, preferably on the same days other properties for sale are showing. The people can simply walk to your home after they’re done with the other viewings. Ask your agent to get feedback from the attendees about what they like and don’t like about your home so you can make adjustments.
The Las Vegas real estate market is hot right now
The demand for homes is high, so if you’re planning to sell, now is the perfect time. Contact me today at 702.419.3212 or loralee(dotted)wood(at)cbvegas(dotted)com if you’re looking for a realtor in Las Vegas.