Houses usually sell, even if not on the very first try.
It's a seller's market, your house is excellent, and you know that you'll practically have bids before you've driven the for-sale sign all the way into the soil of your well-manicured yard. Then a few weeks go by, maybe even a month, and you're starting to have a few doubts. What happened, and how can you fix it?
There's never a guarantee with any house. It all depends on the buyers. What do they want, how much do they want to pay for it, and how does your house measure up?
First, Don't Panic
It's true that after about two weeks on the market, buyers tend to think of houses as distressed or market worn. They wonder why someone hasn't snapped it up. It is too expensive? Is there something lurking inside? There has to be a reason, and new buyers might take inactivity as a sign that they shouldn't even bother.
If your house has floundered for a while, you're not out of options. More on that in a bit. The most important thing is to decide whether to stay the course for a little longer, or back out now and regroup.
Ask your agent about the current average time on the market for homes in your area. Maybe there's a downtrend, which means your house isn't floundering but adjusting to it. If you can manage, think about waiting it out about a month or maybe even three, says Realtor.com®. If not, it's time for Plan B.
Think about hiring a stager, who can make your house look its best.
Plan B Requires Evaluation
If you need to switch gears, keep your eyes and ears open. You're looking for any possible thing that might be wrong, from lowering the asking price down to finessing every way that your agent marketed your house.
Are the photos merely OK? That can spell immediate turnoff for today's online shoppers. Is your home filled with personal items? Those need to go. Think about bringing in a home stager, or at least getting advice from one. There's a great article about that titled, 'Just Because it's a Seller's Market Doesn't Mean Your Home will Sell Itself.'
Ask your agent for information about who viewed your house, and what they ultimately bought (plus how your house compares). Did anyone leave feedback? That's important info, too. How about your advertising? Without a strong, professional and compelling online listing, you might as well be invisible. And if any of your agent's ideas about selling your house don't gel with your plans, it's time to find a new agent.
If you're not thrilled with your agent, you can always find and work with a new one.
Renting Might be an Option
It's probably not your favorite idea, but renting out your home is another option for houses that linger too long on the market. And it's probably better than paying mortgages on two houses. That's another recommendation from realtor.com.
If the idea seems palatable, also consider something a little different. You could offer a trial rent period with a buy option later. Or you could list your home for rent and for sale at the same time. Whoever snaps it up first is the lucky winner.
No one can ever truly say why any house doesn't sell. For some, it might seem obvious. Maybe the house is way overpriced, or maybe it needs a lot of repairs. Houses with fewer bedrooms might not sell as fast in areas with a great school system, as buyers tend to have larger families.
All of this takes research and a determined approach. Try to flesh out what's really wrong, and work to correct it. Until then, know that every house eventually sells.
Pricing and amenities are two big factors in buyer interest. And those are areas where eppraisal can really help. With a free report, you'll see your home's estimated value and learn the value of other homes in your area. You can also compare amenities, see which houses are selling, and find out how long those sales took. It's all as easy as a click of a button. Get your free property valuation today.
