You listed your home for sale, crossed your fingers, and prayed to the real estate gods for an interested buyer. Unfortunately, that buyer hasn’t made an appearance yet. Despite showing after showing, your house has been sitting on the market for weeks, and try as you might, you can’t seem to figure out why. What gives?
If you’ve been waiting and waiting for an offer that seems like it’ll never come, it’s time to make some changes. Let’s take a look at some of the most likely reasons your home isn’t selling and what you can do to turn things around.
The Price of Your Home Is Too High
The primary reason houses don’t sell is because they’re not priced appropriately. And pricing a home to sell can be tricky, especially if you’re selling FSBO. So how do you determine if your home is priced too high? Start by looking at pricing data for recently sold properties that are similar to yours.
If you’re currently trying to sell the house on your own, it may be time to consult with a realtor who knows the market better than you do. Many people price their houses too high simply because they don’t realize what the true fair market value of the property is.
You may have a degree of attachment to the place, but you can’t let your emotions factor into the pricing. The value of the house is what it is, and if you’re not sure what that looks like or how to determine it, get expert help.
The Market Is Slow
Like any other market, the real estate market has highs and lows. If you’ve been waiting for an offer for a long time and there’s nothing wrong with your property or the pricing, the issue may be the market itself.
Generally, spring and summer are the peak seasons for real estate sales, so if you’re trying to sell in fall or winter, that may be the problem. Or, it may be a buyer’s market right now, which means the supply of for-sale properties outpaces the demand. The best way to avoid a slow market scenario is to list your property strategically. If you’re not sure how to do that, it may be time to consult with a realtor.
Or, if you don’t have time for all that, you may want to consider selling your house to a cash home buyer. The process typically takes less than two weeks, and since cash home buyers are almost always real estate investors, they can purchase your home regardless of its condition.
Your House Needs Work
Traditional buyers are almost never interested in buying a home that needs work. Why? Because they don’t want to deal with expensive, time-consuming projects right off the bat. If your house smells like mildew or needs a few major repairs, that’s almost certainly the reason it’s not selling.
You can fix the issue by handling any work that needs to be done, but be ready to invest a considerable amount of money and time into sprucing things up. If you’re not ready to do that, it may be time to consider selling your house to a cash home buyer. Since these types of buyers purchase homes in as-is condition, they’ll buy your house no matter what’s wrong with it.
Your Listing Needs Some Help
Whether you’re selling with a realtor or FSBO, your listing should make an excellent first impression. After all, 90% of buyers begin their search online and it’s the listing that entices them to come take a look at the property itself.
If your listing doesn’t look as professional as it should, there’s a good chance that’s the reason your house is being passed up. You might have bad photos, ineffective listing copy, or poor property staging, all of which can make your listing look subpar. To fix the issue, hire a professional photographer and/or stager who can help you make your listing really shine.
Your Marketing Is Lacking
When you’re trying to sell a home the traditional way, you need to ensure your marketing is on point. Your home should have a listing on all the major real estate websites, and if you’re working with a realtor, it should also be listed on the MLS.
Flyers, brochures, and other marketing materials can also help boost your property’s exposure, so consider implementing those too. If your marketing is lacking, how do you expect to build interest in your property? If no one knows it’s for sale, how can anyone buy it?
Need to Sell Your House Fast? Get in Touch With Purple Mountain Holdings
If your Colorado Springs home isn’t selling, it may be time to consider working with a cash home buyer to sell your house. At Purple Mountain Holdings, we buy houses in any condition for cash, and we can close on your sale in less than two weeks if necessary. To get started or learn more about how we work and what you can expect, give us a call today at 719-476-2727. You can also request a cash offer online, and we’ll be in touch promptly.