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3 Reasons Your Home Isn’t Selling

Shanna

6 December 2007

General Information, Selling Tips, Tips and Ideas

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With your Buy Owner advertising, your home is showcased to a national audience of potential buyers. You’ve custom-designed your marketing package with the help of a qualified consultant, highlighting your home’s features, appearance, and location.

Now, after your ad is just the way you want it and it’s available to view, you are left waiting for the buyer. Maybe you’ve been bombarded with calls since your ad went live, or maybe you’ve had just a few trickle in. What does this mean? And, more importantly, what should you do if your home hasn’t sold yet?

Even in today’s market, there are three main reasons that homes don’t sell—reasons that you can do something about. Take a look at these factors, and consider what you can do to quicken your sale:

1. OVERPRICING

Inflating the asking price is the most common reason that homes don’t sell. Think about it: when you overprice compared to similar homes on the market, you’re moving your home into a higher-priced bracket of potentially more impressive homes. Suddenly your home looks like the poor performer, and buyers are turned away.

Also, prequalified buyers know what they can spend. If you overprice, you may eliminate a buyer who could afford a more reasonable rate. Meanwhile, your home sits waiting.

You want to be sure your price is fair and right in line with what an appraiser would estimate. Otherwise, even if a buyer does make an offer, the appraisal conducted at that point will show the truth.

2. POOR SHOWABILITY

Don’t underestimate the power of a well-prepared home. Everything you can do to improve your home’s showability will be worth the effort. It will dramatically affect buyers’ first impressions, their overall appreciation of your home and, most importantly, their ability to imagine themselves in it. See these Buy Owner Blog articles for more information about showing:

Preparing for a Showing
Smile for the Camera: Staging Your Home
Tip: Tidy Up the House!
Creating a Backyard Oasis

3. NOT ENOUGH EFFORT

Your Buy Owner advertising is a wise investment and a crucial first step in finding a buyer for your home. While the Buy Owner website draws millions of views, it is still not the only way to draw buyers. Use your Buy Owner tools to make the most of your advertising. Create brochures to hand out at local establishments, tell your friends and do absolutely everything you can to get the word out about your advertisement. (Hint: See “Tips for Drawing Buyers”). The more people who view your home online, the better chance you have of finding the right buyer!