It's one of the most frustrating situations that a homeowner can face. You've decided to move, yet you can't make that move until your current home sells. Then, for one of a number of reasons, buyers just don't seem interested in buying your home. It happens all the time, and though it's frustrating, the reasons are generally fairly straightforward. Here are several of the most common reasons that homes sit on the market longer than they should. First, your asking price may be too high. This is the most common reason that a home doesn't attract buyers. Homebuyers are often some of the most savvy shoppers in the world, because buying a home is generally the most expensive purchase a person will ever make. That means they shop hard and they know what homes are worth in their target area. If yours is out of line with those prices, it will sit on the market while others are snapped up by eager buyers. So check your price regularly against the competition. Make showing easy. Sometimes the difficulty lies in how hard it is for potential buyers to view your home. If you or your listing agent insists on being home each time it's shown, that means many viewing opportunities will be missed. If you want your home to sell quickly, it needs to be seen by as many buyers and selling agents as possible, so make it convenient for them to visit if you want a faster sale. Another common reason a home doesn't sell is its condition. Homebuyers know what they can get for their money, and they have an idea how much it will cost to repair or upgrade a home. So it your home needs work, you have a couple choices. You can either make the necessary repairs or adjust your sales price to reflect what it will cost to make repairs. Either way, you'll improve your chances of selling your home more quickly. However, be aware that many people won't look at a house that's advertised as a fixer-upper or as-is. The vast majority of folks want to be able to move in and begin enjoying their new home without having to do any substantial repair or upgrade. Therefore, it's generally more desirable to make the repairs before you list your home. That way, you can use the upgrades as a selling point to encourage a faster sale. Finally, you may need to come up with some creative marketing techniques to help sell your home. Believe it or not, the most effective means of selling is still the good old tried-and-true method of putting a sign in the yard. However, you can increase your chances of interesting potential buyers by attaching a plastic bin to your sign that offers flyers buyers can take home and study, offering details about your home's price, amenities, terms, schools, and anything else a homebuyer would like to know. Creative marketing techniques include home staging and advertising psychology. Kick your home staging up a notch with more than the usual deep cleaning, decluttering, and adding flowers. Consider your target buyer and stage suggestions of activities. Kick your advertising up a notch with sales copy that gives benefits to the buyers. Don't just list the features of your home--turn those into strong benefits to the buyer. The bottom line: if your home hasn't sold within 60 days, you may need to look at one of the above situations to see if you can improve your chances of attracting a buyer. Copyright 2006 Jeanette J. Fisher |
