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Why Is Your Home on the Market for So Long?

By RealtyBiz News | November 17, 2022

To successfully sell your property, you must shift your mindset from being a homeowner to a businessperson. Focus on the property's strongest features and how to highlight them to potential buyers.

If your home is not selling off the market despite your best efforts, consider reevaluating your open house and listing strategies. If a house has been on the market for so long, the owner may need help pinpointing the problem. Good news: we can help determine why your properties have been on the market for a while.

Modern Home for Sale with sign in front yard
Closeup view of Modern Suburban Home for Sale Real Estate Sign in front of modern home

The price is too high

A home's inability to sell quickly is typically due to an overpriced asking price. Many active Buyers will likely visit a newly listed property soon after it becomes available. To avoid losing potential buyers, selling it at a reasonable price is essential. 

If it's too high, it may not get any attention or lose out to other more competitively priced properties. Regardless of how much you cut the price later, the initial wave of buyers has already calmed down. Plus, the house's status had already taken a hit after sitting on the market for a while.

Minor flaws

It's crucial to consider minor details to attract more buyers. Fix any imperfections that might be noticed. For instance, to ensure a welcoming atmosphere during showings, make sure to repair air conditioners if they need them. 

Additionally, a home can be updated without breaking the bank by painting the baseboards and trim, touching up the walls, and replacing the old light and switch plates. Other low-cost upgrades to make your property stand out include painting the walls and cleaning the carpets.

The home's condition

Buyers are put off by investing time and money into repairing a property already in poor condition. Before listing their property for sale, homeowners must take care of several necessary repairs, such as those to the building's structure and mechanical systems, landscaping, and any necessary cosmetic touches.

Making an offer and inspecting the home is an efficient approach to see if it is in poor shape. If the home inspector discovers serious issues with the house's systems or appliances, the seller should be able to factor them into the asking price.

Inefficient staging

Sometimes, it's possible that the house just isn't staged well. A skilled interior decorator or home stager may assist the seller. To attract more buyers, other sellers must make showings more convenient. The seller may need help getting the house ready for showings or clearing its schedule if it has been on the market for a long time.

You can have your agent specify showing dates or a "by appointment only" policy in the listing, but doing so means you risk losing out on possible buyers. It's no surprise that potential buyers prefer viewing homes after hours and on weekends.

Tenants who refuse to move out or uncooperative sellers can make showings a mess. If the house is difficult to access, there will be many missed opportunities to sell it. This means the property will likely be on the market for some time. The homeowner should vacate the premises and welcome prospective buyers to look around if they want to sell the house quickly.

There are still renters

You have this property that has proven to be a reliable source of supplementary income. To put it simply, you are renting it out. To prepare the house for showings, you can get your renters to vacate early so you can give the place a thorough cleaning and put it up for sale. It is difficult to sell a house when tenants still live in it.

Terrible pictures of the property

Photos that are both professional and clean will do wonders for selling your home. Providing as many high-quality photographs as possible of your home is highly advantageous. Exhibit professional photographs of the front and exterior of your home. Your home's curb appeal must be exceptional for these shots. Professional photos of your entire property, including the front and back yards, patio, and pool, are essential in selling your property immediately. 

Access to social amenities

Many factors influence how long it typically takes to sell a home. However, a property's accessibility to social amenities could be a significant factor. Moreover, a  home's perceived value can be affected by its proximity to amenities such as schools, hospitals, shopping centers, etc.

On top of all, all possible steps should be taken by the seller and their real estate agent to improve the home's condition for showings and highlight the neighborhood's best features.

Conclusion

The length of time a property spends on the market may be an indication of major issues with the home. Consider the surrounding real estate market and have it inspected. And more importantly, opt to employ a professional staging company to get your home show-ready and attract serious buyers.

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