There are some homes on the real estate market today that sit and sit, well they sit for a long time and many home sellers wonder why their home or house is not selling. As an experienced real estate agent, I know that generally there are three reasons why a home does not sell quickly:
- Price is not in-line with the market
- Condition is poor, not up to date
- Location is undesirable
Other Reasons Why Your Home May Not Be Selling
Even though those reasons listed above are the basic three reasons why a your house may not be selling, it’s quite possible that other factors could be contributing to home buyers’ lack of interests in your home. Of those less common factors, these are conditions that could also affect the saleability of your home:
- Accessibility or lack there of. Ex: If you have pet(s) that prevent the home from being shown, select hours, no lock box on the property, have instructed Agents and Realtors to pick up a key at your broker’s office before showings or uncooperative tenants who prevent the house from being shown . . .are some of the issues regarding accessibility.
- Agency relationship and how your home is being marketed. Ex: No MLS exposure (FSBO Listing), lack of photos, lack of compelling copy of the best features of your home; limited details highlighting the best features of your home; lack of website syndication, virtual tour, etc.
- Short Sale Listing Ex: Buyers may not want to preview or entertain the idea of purchasing a home that is subject to a third party approval(s).
- Lack of communication and feedback from your agent who interacts with the buyers or the buyer’s agent who visit your home.
- Inexperienced Real Estate Agent
- Your home is cluttered, does not show well
- Overabundance of homes on the market –
- High Market Absorption Rate – Number of months it takes to sell a home. 5-6 months is usually referred to as a normal market. Under 5 months of selling time, it’s a seller’s market and a market with 7 months or more of housing inventory is considered a strong buyer’s market.
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