5 Reasons Your Home Is Not Selling In A Hot Market

The market can be challenging for people who want to sell their homes as quickly as possible. There are plenty of options available for buyers out there, so they can afford to be picky when it comes to finding their dream home. If your home has been on the market for a few weeks, don’t worry because you are not alone. There are a few small factors that play a big role in why another home sells more quickly than yours does. However, those things are easy to fix and once they’re addressed your home will fly off the market. Here are five reasons why your home is not selling in a hot market.

Pricing Concerns

One of the main reasons that homes don’t sell quickly is because they are overpriced or inaccurately priced. The first thing people notice when they’re searching for a home is the price, they know their price range and most people can’t, or won’t, stray from their budget. Most buyers think that because they paid a certain price for their home in the beginning and put some pricey improvements into it, that they are entitled to put their home on the market for a much higher price than what they paid. The economy is still tough, so people aren’t as willing to pay for the extra things if the home isn’t accurately priced according to the average price range of other homes in the area.

So, what can you do to make sure you’re home is accurately priced? You should consult more than one real estate agent and ask them how much they think your house is worth based on comparable homes that they have seen. Even if you think the price is too low, don’t ignore them or your home will continue sitting on the market without selling. You might have made some pricey upgrades, but if other homes in your neighborhood don’t compare, people won’t want to dish out the extra cash.

Marketing

Marketing your home means a few of things, and the lack of marketing can be a big factor in why your home has been on the market for so long without selling. The exposure your home gets to potential buyers is one thing and how you market your home once somebody enters it is another. Most people think that placing a for sale sign in your front yard is enough, but it isn’t. People won’t just drive by, see the sign and place an offer. You need to get your home out there in the virtual space and let people know about all of the details that make your home better than other ones that are currently on the market.

To give your home more exposure, consider hiring a professional photographer to take pictures of the main selling points in your home. Utilize online advertising to sell your home because let’s face it, it’s free and you would be silly not to take advantage of it. You want to give your home as much exposure as possible to potential buyers and give people a reason to want to see it in person. As long as you market your home adequately, you will draw buyers in. After you add curb appeal and some home staging techniques, your house will market itself.

Curb Appeal

The lack of curb appeal can be a huge factor that is causing your home to sit on the market for so long without selling. The curb appeal of your home is very important and plays a huge role in how quickly your home sells because it is the first thing potential buyers notice when they pull up outside. If your lawn isn’t trimmed or there is clutter on your front porch, some people might think that the rest of your home isn’t worth seeing because if you don’t put any work into the exterior, the interior is probably a disaster. Additionally, if there is absolutely nothing that draws them in, there is a chance that they will walk away right then because they see it as a project that they will need to put work into. Most homeowners want a home that is move-in ready, not one that they will have to work on right off the bat.

There are a ton of simple and inexpensive ways to add curb appeal to your home that will make it more attractive to potential buyers. For starters, trim the grass and the bushes. This doesn’t cost any extra money, it just takes time. Taking the time to make the lawn look well kept will pay off in the end. To add something extra, planting flowers in a variety of colors is a great way to make the landscaping look more visually appealing. Flowers will give your home the extra pop that it needs to attract potential buyers. Lastly, if you have the space on your front porch, add a bench or chair. It is a little something extra that makes the outside of your home look beautiful and welcoming.

Lack of Staging

The lack of staged rooms in your home can also be a factor in why your home is not selling as quickly as you would like. Staging a room, or a few rooms, is easy and can be as inexpensive as you need it to be. By making a few changes, you can make the space inviting and grab the attention of any potential buyer. The people who are viewing your home want to be able to picture themselves in it and staging rooms is the best way to help them do that.

How do you stage a room, you might ask? It can be as simple as making a few minor changes. First you want to get rid off all the clutter that might be in the space. This will help you kill two birds with one stone because you have to pack up your belongings sooner or later. You should also do your best to neutralize every room in the house. When you live in a home you want to customize it and make it your own; but when you’re selling, you want to remain neutral so the potential buyer can consider what they would do with the space.

After you’ve de-cluttered and neutralized your home, it’s time to get to the fun part. Add colorful throw pillows to the couch and rearrange your furniture to make the room more inviting. You should also consider styling your dining room table. A bare table can often look plain and uninviting. Create an inexpensive and colorful center piece with flowers and set the table with plates, glasses and silverware, along with napkins that match the color scheme. Staging rooms will make a plain space pop and catch the attention of any potential home owner.

Accessibility

Your home might not be selling as quickly as you would like because it isn’t easily accessible and there aren’t many suitable times for potential buyers to view it. There are few things worse than a potential buyer wanting to see a home and a real estate agent coming back with, “A viewing doesn’t suit the vendor.” If you want your home to sell, and sell quickly, you need to make it accessible and work on other people’s terms. A great way to do this is to hold an open house. Ask your real estate agent to give potential buyers a two or three hour window of time to come out and view your home. An open house has the potential to create a buzz and encourage earlier offers from potential buyers.

If you’re selling your home without a real estate agent, that also has the potential to be a speed bump in the road to accessibility. Unless you know what you’re doing, leave it to a seasoned professional. A realtor know what is selling in the area and for what price; the expertise and knowledge you will receive will pay off when there is a “Sold” sign in your front yard.

A hot market is a great market, and the perfect one in which to sell your home. Once you realize what you’re lacking or doing wrong, it is all up hill from there. With a few small adjustments and improvements, your home will get the exposure it needs to be off the market and in the hands of a new owner.