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The House Wont Sell Time to Find Out WhyIf you asked most real estate agents why your house wont sell, I bet a large percentage will immediately say, "Well, you have to lower your price." This is especially true if they are the listing agent of the property.
Although this may certainly be true, there are may be many other reasons why your home wont sell. Lets examine some and also some possible solutions. Just knowing why your house wont sell isn't enough unless you take some corrective action. Right? This site is designed for folks that sell by owner. If you are listed with a real estate agent, changes are you are locked into a 3 - 6 month listing. If your house wont sell, in many cases you don't have a lot of choices but to "stick it out" to the bitter end, unless the real estate agent releases you from the contract. Patience with your real estate agent when you are listed, is one side of the coin when your house wont sell. When you are for sale by owner, the tide turns and it's you that has to be patient with yourself. Here's the problem: You place your house on the market, you have people view the house and no one puts in an offer. Self doubt creeps in. I've seen for sale by owners ready to throw in the towel after 2 weeks! "Oh dear! My house wont sell!" Think about it. If you had the best real estate agent in the world, there is no guarantee your house will be sold in two weeks. It's a matter of staying the course. Keep marketing and showing the property, doing your open houses and wait patiently for the right buyer to arrive. How long should it take to sell a house? I don't know. You don't know. A Realtor® doesn't know. Are you getting traffic through the house? Keep on keeping on. Did you have an Appraisal and price the house accordingly? Keep on keeping on. Are you doing Open Houses? Keep on keeping on. Do you have your house Listed Online? Keep on keeping on. Do you have highly visible Signage out front and good Open House and Directional Signs? Keep on keeping on. Is your house and Property Clean, Tidy and in Good Repair? Keep on keeping on. In other words, the reason your house wont sell, may be just because the right buyer hasn't arrived yet. Don't give up! Just keep doing what you are doing if you have everything in place. Sometimes there are no magic bullets. Just patience and grit. OK? Good! How are the market conditions in your area? Sometimes when your house wont sell, or more to the point, it's taking a loooong time, it's just slow real estate times. Is it buyer's market? There are far more houses for sale than there are qualified, ready to purchase buyers. Is it a seller's market? There are far more qualified buyers ready to purchase than there are house available. Is it a balanced market? The amount of houses for sale are closely matched with the amount of buyers ready to purchase. Is it a mixed market? Perhaps the houses in the lower price range are selling as fast as the come on the market, but houses in the mid to upper range are sitting on the market. Sometimes it's the mid-range that's hot. It also can be the upper priced market. What can you do? Well, first of all, find out and be aware what type of market you are involved with. Drive around your neighborhood and count how many houses are for sale. Count how many have sold signs on them. Check your local newspaper, real estate publication and online to see how much competition you have.
Your list might look something like this:
Like I said before, you can also drive some neighborhoods similar to yours on a regular basis and count the sold signs. If you establish the type of market, you than can see if it is just the conditions, or you may need to make a few changes. Yes, if your house won't sell, it could be the price. Ask yourself these questions:
Side Note: Do I really need an appraisal Doug? Go from House Wont Sell to Why a Certified Appraisal to find out why. If you didn't establish your price using a certified appraiser or the market has changed, then take another look at your asking price.
The ad reads: One of a Kind! Oh, oh. Why your house wont sell may be because it's a unique property. It may not conform to the average person. This makes finding a buyer for your house much more difficult. These properties as a whole, take longer to sell. They may be wonderful houses and property, but they are only suited for a narrow niche of buyers. Will the house sell? Certainly. You might have to be a bit more patient, that's all. When you have your house on the market, it's important that the property looks it's best for every showing. If the beds aren't made, dishes are piled up in the sink and "Rover" just deposited a "present" on the kitchen floor, you may just chase some potential buyers away. "Well, if they can't see past that, there is something wrong with them!" Sorry, a lot of people Can't see past many things. People buy houses that feel good and feel like home to them. If your house is always neat, tidy and in good repair, you can cross this reason off. If it's not, make any improvements necessary and you might just be holding a signed purchase and sales contract in your hand from your next showing. If your house wont sell, is it because you are keeping it a secret? Exposure! Exposure! Exposure! You may need to promote your property using every feasible avenue available to you.
If you aren't marketing your house to the maximum, it may just be why your house wont sell! So in closing, review the reasons above why your house wont sell, discard the ones that don't concern you, and look at improving those areas that you feel where you might be lacking. If you have been using this website's step by step process, then I'm betting it's #1 - Patience! Stick with it and it wont be long before you make that sale! For a look at another view from another site, please go to When Your House Wont Sell Disclaimer Privacy Policy Contact Me |
I would like to thank-you very much for all of the great information on your site.
This is the first time we are selling privately and so far it has gone well.