The selling process can be excruciating and take months, and if the home does not sell, it can result in frustration and financial loss. Several things can hinder the selling process, like curb appeal, natural light, or your furry friends.
In this article, we will discuss pricing strategies, staging, the house’s condition, and other things that deter potential buyers. We will also share tips on making your home sell faster, like emphasizing the good school districts.
Pricing and Market Value
The main issue homebuyers experience is pricing, which may exceed their budget or feel like it’s not in line with the property’s market value. Here’s what you can do to help your house sell.
Overpriced Homes
Setting the asking price too high is the most common deal-breaker for home buyers. Your pricing strategy should aim to capture your home’s value and attract buyer interest.
If you’re struggling to sell your home, the price of the real estate is the first thing to re-evaluate. Check the prices of similar properties in your areas sold in the last several months. Pay attention to size, location, and the property’s condition and appeal.
If you want to attract more buyers and are unsure if you set the right price, get an online evaluation or speak to a real estate agent who is well-acquainted with the local market (Do you need a realtor to sell a house?). Make sure the listing talks about your house in the best light, such as mentioning the home gym, so shoppers know it’s worth the asking price.
Failing to Adjust to Market Conditions
The price you set and the perceived value of your house should be adjusted to the local real estate market conditions. If you’re not sure what the issue is, consider the following factors:
- Seasonality – The time of the year can impact buyer activity. You can generally get higher prices in spring and early summer, with the opposite true for winter months.
- Supply and demand – Higher prices may be feasible in a seller’s market with lower inventory. In a buyer’s market, you usually need to drop the price.
- Interest rate changes – Rising rates can reduce buyers’ purchasing power, while lower rates typically drive demand.
- Days on the market – It takes 62 days to sell the average Texas home. If your house sits on the market for too long, people may start to think something is wrong with it and that the price is too high. [1]
Condition and Appeal of the Home to Potential Buyers
The property’s appeal and condition are the second-most common reason your house may not be selling. Here’s a more detailed look into these problems.
Needed Repairs and Maintenance
If prospective buyers see obvious issues such as broken tiles, leaky faucets, or peeling paint, they may think the house has hidden, more serious issues. Any problems that need repair can point to a lack of maintenance and leave a negative impression on the buyers.
This also applies to curb appeal. If your outdoor space is unkept or poorly maintained, it can reflect poorly on the rest of the house. This can be true even for smaller issues such as overgrown lawns. Pressure washing and new paint can immediately make your property look well-maintained.
Clutter and Poor Staging
Your potential buyer has to be able to see themselves living in the home. This is why it’s essential to remove personal items, declutter, deep clean, and stage the house to appeal to a wider range of buyers.
Also, if you have any pets, it is better to send them to a park or a daycare during open houses to make visitors feel more comfortable. Visitors may have allergies that you don’t know about.
Outdated or Unattractive Features
Outdated kitchens, bathrooms, or other unattractive features may force many buyers to look elsewhere. These expensive fixes are seen by the buyers as a liability that takes away their money and time.
Marketing and Exposure
Bad marketing measures can deter buyers from noticing or visiting your property, even if the home itself is in good condition. Fixing this process can increase your chances of selling it at a better price.
Poor Quality Photos and Listings
Real estate agents know professional photos, listings, and descriptions can help. All people now start their home search online, so make sure your home doesn’t lack in any of these aspects:
- Professional photography – Hire a professional photographer to avoid using unappealing, low-quality, grainy, or unclear photos.
- Descriptions – Listing descriptions that are inaccurate or not detailed enough can decrease interest or frustrate buyers.
- Online presence – Limited online presence is a serious mistake. Your listing needs to be on popular real estate websites, directories, and social media.
Limited Marketing Efforts
A limited marketing strategy can mean advertising to the wrong buyers, failing to reach a broader audience, or missing out on opportunities. At the least, your strategy must contain:
- Open houses – Open house events can generate buzz and let multiple buyers explore the property at once.
- Online listings – These are essential, together with high-quality photos and descriptions.
- Agent networking – Real estate professionals can connect with other agents’ clients.
If you think your agent isn’t doing enough, you can speak to them about ramping up the marketing efforts or, in some cases, sell your house another way.
External Factors
Some factors are out of your control — current market conditions, competition, and neighborhood issues. Still, you are not completely helpless in these situations.
Economic Conditions and Interest Rates
Economic downturns and rising interest rates are crucial factors that can shake buyer confidence and slow the housing market. Buyers may hesitate to invest when the economy weakens, fearing job instability or declining property values. Similarly, rising interest rates make mortgages more expensive.
As demand drops, homes may stay on the market longer, forcing sellers to lower their prices, increase their marketing efforts, or offer concessions to buyers.
Competition from Other Homes
A high inventory of similar homes for sale in your area creates competition and makes it harder to sell your property. With more options available, buyers can afford to be selective, leaving fewer buyers interested in any home.
An experienced real estate professional can use comparative market analysis to help you price your home correctly and make it stand out.
Neighborhood Issues
High crime rates, poor schools, or undesirable developments such as loud industrial facilities or overcrowded apartment complexes can all prevent a successful sale. Home buyers will often look for another property.
What you can do about it is set a lower price and highlight your home’s (and the neighborhood’s) positive features.
Seller-Related Issues
The home sale process is sometimes hindered by unrealistic expectations, lack of flexibility, or lack of energy and motivation. If you find it exhausting, look for other solutions, such as working with agents or selling your home for cash.
Unrealistic Expectations
Unrealistic expectations about the listing price can create frustration and cause your home to lose value if it sits on the market for to long. On the other hand, if you expect to sell quickly, you should be aware that many homes in Texas take months to sell, even if they’re in excellent condition.
Lack of Flexibility or Motivation
What stops a house from selling is often the seller’s lack of motivation, time, or unwillingness to negotiate. For example, a buyer may ask them to make a small investment in repairing something, but they do not have the energy or resources to handle it.
While you shouldn’t agree to all buyer requests, if several of them complain about the same thing, getting advice from a professional may be best.
Difficult to Work With
First impressions matter, and if potential buyers find the seller on a bad day, they may be deterred. Another important thing buyers notice is responsiveness. Responding to messages and calls the same day or the next is best.
Selling to a Cash Home Buyer
Pandering to potential buyers is often exhausting, and it’s even worse in slow markets. If you’re tired of open houses and people knocking at your front door with low offers, consider selling to a cash buyer.
Overcoming Challenges that Hinder a Sale
If you want to sell your house faster and spend less money on listing photos, cleaning, repairs, and staging, a cash home buyer like A-List Properties can help.
We buy homes for a living, and with us, you can get your home sold in weeks, if not days.
Benefits of a Cash Offer
With A-List Properties, you get a fast, easy sale. You don’t have to worry about curb appeal, as we buy houses as-is.
With us, you needn’t worry about financing contingencies or appraisal issues. There’s also no need for a real estate agent, as we purchase homes directly, and you get exactly the amount we agreed upon.
For a free quote, call or text (972) 526-7042 or write to us on our contact page.
References: [1] Texas Housing Insight
Zach Shelley
Zach Shelley is a seasoned real estate investor with a diverse network spanning across the nation. As the founder of his own real estate venture, Zach is committed to offering innovative solutions to homeowners facing various real estate challenges.. Through his dedication and strategic approach, Zach continues to make a significant impact in the real estate industry, providing homeowners with alternative pathways to navigate their property transactions.
