Problems Selling in a Seller's Market?
It’s no secret that most of the country is experiencing a strong seller’s market. With more homebuyers than inventory, most sellers have been delighted to sell quickly and often with multiple offers. Yet, some homes are still sitting on the market and these sellers may be wondering why.
Here are 6 reasons why your home listing is not selling:
1. Overconfidence – While many homes are being snapped up on day one, this does not mean you can avoid the basics of good marketing, professional photos, and open houses.
2. Overpriced – In a seller’s market, home prices do advance, but a dramatically overpriced home will still sit unnoticed.
3. Appearance – With low inventory, homebuyers will compromise on some issues, but properties in need of major TLC or extensive deferred maintenance will not hold mass appeal.
4. Title Problems – Title issues are more common than you think. Old judgments or messy probate can take time to resolve and in a fast-paced market, buyers will often just move on.
5. Stinky – Smelly homes simply do not sell. Fortunately, there are professional options that can eliminate most odors.
6. Lazy Agent – The hard truth is that in a seller’s market, some agents just get lazy, assuming the home will sell without much effort. Your agent should still be doing all the right things – open houses, listing pictures, follow-up, and personal showings.
A seller’s market is exciting for homeowners ready to move. If your listing is just sitting without much activity, it is time to take a hard look at what you’re doing wrong and make changes.