One of the most difficult times in real estate for both the realtor and the homeowner is when a house won’t sell. There are countless reasons that a home won’t sell, and if you listed your home in the Spring and are still waiting to find the perfect buyer, you are not alone. It is easy to feel defeated when you are not receiving interest from buyers, especially during the “hot” real estate season, but now is not the time to lose hope! There are several ways to regain momentum and entice buyers to finally get you the offer you deserve.
Like most people trying to sell their home, you will have an open house and countless showings for potential buyers. During these events, realtors will collect and provide feedback about what the buyers liked and didn’t like about your home. After several months of showings, you will have tons of feedback that you can use to make more updates that will entice future buyers who walk through your home. For example, if you get a lot of feedback about needing new appliances or hating the paint color, it will likely be worth it to invest in these updates so other potential buyers are not distracted by these “flaws”.
Reduce Asking Price
“Nationwide, 12.9 percent of sellers reduce the price of their house at least once. If you’re thinking about doing a price reduction, consider this: the longer a home is on the market, the lower your odds are of selling it for list price” (Zillow). When you select the initial list price of your home, you are obviously aiming for the most profit possible, but you might quickly realize that the price is too high. Buyer feedback will often let you know if price is the one thing scaring them away, so meet with your realtor and come up with a new, lower price that will still leave you feeling successful after the sale.
Manage the Unmanageable
Some buyer feedback might point to problems that cannot be fixed, i.e., low ceiling height or small bathrooms. If this is frequently happening, do your best to manage these “flaws” by masking them however possible. Often, a few cosmetic touches – think light paint colors or re-purposing a room – will help cover up these small things that potential buyers just can’t see past.
It is important to remember that selling your house takes time and not every home sells in the first week. Be sure to practice patience and focus on the ultimate outcome: selling your home at a good price so you can move on to your new dream home!