The market in North Texas is beginning to lean toward a neutral market, in which homes aren’t selling quite as fast as they were. According to “The Balance” website, the best definition of a neutral market is that the market is balanced, meaning it is neither a buyers or sellers market, that interest rates are affordable and the number of buyers and sellers in the marketplace are equalized.
That being said, there are many reasons your home may not be selling. If your home hasn’t received an offer after 6-10 showings, it’s time to look closely at your strategy and consider where the weaknesses in your home and/or marketing might be. Hint: it almost always comes down to two variables – price and condition.
If your home is priced right, it will sell, regardless of condition. A home that is not updated will sell, but only at a price that reflects its condition. Keep in mind that buyers expect discounts for dated kitchens, old plumbing, bad paint colors and even clutter.
You only have one shot to make a good first impression. Check your curb appeal, how cluttered your home is and does your house show as bright, light and airy?
Other possible reasons your home might be turning potential buyers off are:
The home is dark: closed drapes, dark walls & paneling, excessive dark leather furniture might not be as cozy as you think it is – it’s just dark! Lighten up your space by painting walls & cabinets white and remove big furniture and clutter.
Buyers can’t get into see your home: Be wary of setting up roadblocks to buyers who want to see your home. Restricted viewing hours, too much notice required for a showing, unavailable listing agents for questions – all will turn off prospective buyers. Make the process EASY for buyers in any way you can!
Photos are not good. The internet is often the first place buyers go to determine which homes they want to visit. If your photos are poor, or your home is too cluttered in the photos, it will turn buyers off.
So, what can you do if your home isn’t selling?
Talk to your realtor! Realtors are experienced home sellers and they’ve seen first-hand the other homes your house is competing with.
Keep an open mind! Selling your home is a business transaction, not an emotional transaction. Try to keep that in mind and weigh your realtors’ advice from a business & marketing point of view.
Short of a complete home remodel, which can be costly and time consuming, your realtor can give you valuable advice about pricing, staging, curb appeal and other factors that will get your home off the market in no time.
Information provided by The Seay Realty Group, dedicated to service and exceeding your expectations. We would love to help you sell your home. Call us today!