When selling a home, oftentimes offers don’t pour in right away. While we look for answers to why at always boils down to price. The only reason your home isn’t selling is it’s priced too high. Let me explain.
Below are several excuses for why your home isn’t selling, but it always goes back to price.
The location isn’t great.
Location, location, location, right? That’s what we’re all told matters most about real estate. Yes, this is true, but if your home isn’t in a great location and your home isn’t selling. You priced it too high and the market is telling you to lower the price.
The home is in bad condition.
Yeah, it is. Look around at some of the homes on the market right now and you’ll find a lot of “fixers”. This is just a nice way to say get ready to drop a ton of money into getting this place into an acceptable condition. Yeah, your home is in bad condition, so if it’s not selling, you’ve priced it too high.
It’s a slow time of the year.
There is a way to find the best time of year to sell a home and I wrote about it in an old post here. While you can find the month of the year where most buyers are out looking to purchase a home, if your home isn’t selling, there is one way to get it sold. Can you guess? Yeah, lower the list price!
My agent isn’t working hard enough to get it sold.
While this probably has some merit, let’s be real. In 2019, the heavy lifting for marketing is done via automatic syndication of MLS data to third-party sites, such as Zillow or real estate brokerage sites. While you may have an agent more interested in posting cute Instagram photos than talking to potential buyers for your home, the agent isn’t really doing much more to get it sold. The internet is marketing your home. That’s why you may want to check out sites like Haus to sell your home yourself and save thousands in the process. Nonetheless, the main reason your house isn’t getting offers is it’s priced above the current market price. If you want to get it sold, you may want to consider a price drop. Or, excuse me, a “price improvement”. You don’t want to look desperate!
Remember, this is a really simple concept. Price is the only reason your home isn’t selling. So, if you really want to get it sold and you aren’t getting offers… That’s right, lower the list price.