It can be very frustrating when you’ve got a property that’s been stuck on the market for so long and still isn’t seeing much movement. If a home listing stays up too long, this could even reflect poorly on buyers’ perception of the place. Considering the boom that the real estate sector saw in 2020, now is the time to fix this problem and get your house sold. This is especially true since real estate expert and Zillow CEO Richard Barton shared data that predicted things to taper off by late 2021.
Take a step back and see if any of these reasons below apply to your home, so you can take the necessary actions to make your place a more attractive buy.
There’s a Sore of Lack Curb Appeal
First impressions can be everything, and if your home doesn’t look good when potential buyers are looking at it from the street, it’s less likely to sell. Not only is good curb appeal a way to attract onlookers, but it’s also a representation of how well you’ve taken care of the property. If the immediate surroundings look bad, viewers are more likely to assume that what’s on the other side of the door isn’t much better.
Curb appeal is also one of the main factors you want to focus on because it can make your home stand out in a good way (or bad, if you are careless). A study from the Journal of Real Estate Finance and Economics revealed that higher curb appeal translates to higher sale value for homes on the market. So, make sure the exteriors have a good coat of paint, keep your landscaping well managed and neat, take care of your mailbox, and put up some flowers and lights to highlight the beauty of your property.
The Property Needs a Lot of Work
Selling your house at a huge discount doesn’t necessarily attract the right kind of buyers, especially if the property is a major fixer upper. An Apartment Therapy article points out that 78% of millennials prefer properties that are ‘move-in ready.’ Understandably so, today’s homebuyers don’t want to make major renovations once they’ve moved in. On that note, making the necessary repairs to the foundations, interiors, exteriors, and home systems will make your home more attractive to a buyer.
And don’t forget to make cosmetic changes too. There are several home improvement ideas on HomeServe that won’t break the bank — from putting up an inspiring gallery wall to sprucing up your lawn. If it’s within your budget, you can also introduce a few smart home devices, like high-tech security systems or smart lighting (you can remove these when you move). The point is that these functional and decorative touches help a buyer picture what it’s like to live in such a home, and hopefully, entice them to make an offer.
The Listed Price is Just Too High
As much as you may love your home and think it deserves a high value, you simply have to consider your target market and whether or not you’re going at a “selling price.” If the listing is just too expensive, people will either assume you’re not really ready to part with the property or look for unique factors that justify the price.
If you’re going to stick to a high asking price, make sure you’ve got some unique and beneficial assets that buyers will actually want to pay a premium for. A higher price also means your pool of potential buyers will definitely be smaller. Check out other similar listings in your area that have sold and try to drop your price to at least match something closer.
Once you’ve gotten those issues out of the way, you will have a better chance of selling your home. Of course, you’ll want to make sure you put up lots of listings with enough information and good photos. For more tricks to getting your home sold fast, check out Shawn Morgan’s quick guide on it.