The Seller's Guide: Top Reasons Why Your Home Isn't Selling
/If your home has been listed on the San Diego market for +30 days, you will likely be asking yourself, what's the deal? As inventory is low in most areas, majority of homes are selling quickly, and while that may be common, it’s not the case for every home. See the top reasons why your home might not be selling, plus some tips on how to resolve.
Photo by Joshua Clay on Unsplash
1. The price is not right
You’ve likely spent a significant amount of time in your home, making memories that will last a lifetime, which equates to you that the house itself is priceless. However, buyers don’t have this same sentiment for your property.
In most cases (9 times out of ten) the number one reason a house stays on the market is because the listing price is too high. Even if it is a seller’s market, don’t be tempted to raise your price. Listing it at the best asking price will make it desirable to the most prospective buyers possible and, if the market is competitive, could lead to multiple offers that are above your asking price. Listing it too high initially could scare away buyers who would otherwise have been interested in seeing your home.
Photo: Julie Soefer Photography/Courtesy of Marie Flanigan Interiors
2. Updates need to be made
Look at homes in your price range and area that are on the market or have sold recently. What features do they have that yours doesn’t? You may need to update your appliances, put in new flooring, add a fresh coat of paint to your walls, etc.
There are ways to make upgrades to your home without spending all of your money. For example, check out this article from Architectural Digest that shows what a significant difference paint can make. Also, before you start on any updates, be sure whatever you invest your dollars in can easily be made back when the home sells. Sometimes it’s true what they say: You have to spend money to make money. Don’t be hesitate to ask me for advice on what updates could realistically help the sale of your home.
Photo by Brooke Lark on Unsplash
3. Your listing photos were not professionally taken or edited
Every single listing on the MLS (Multiple Listing Service) can be viewed online, which means buyers are shopping and developing opinions about your home before they even think about going to see it in person. If your photos make the home look dark, small, dirty, or otherwise undesirable, buyers will refuse to step into it even though your home may not be any of those things in person. It pays to use a professional photographer because it will ultimately lead to more buyers walking into your home, increasing your potential for multiple offers, resulting in a higher final sales price.
4. It looks too lived-in
Are your personal belongings and memories visible throughout the home? Buyers want to be able to imagine themselves in your home and de-personalizing and de-cluttering can help them do just that. Having issues getting organized? Check out this YouTube video from The Style Insider to get you started. She has some great, easy tips that you can start applying today to help you get things in order. Another option if you have too many belongings to stow away is to think of renting a storage unit that will allow you to begin packing your things now. That way, when it is time to move, you're already one step ahead of the process.
