If your home sits idle in a seller’s market, it’s time to get to the root of the problem. Even if you’re under-pricing it, it’s important to remember that buyers are more and more picky these days, and that most of them are hunting with their dream home in mind. The farther away from someone’s dream home yours is, the more work you’re going to need to do.
It’s a seller’s market in Nashville, there’s no doubt about it. If your home is in one of those areas, say Germantown, or 12 South, and isn’t getting offers, something’s wrong. The good news? Knowing there’s a problem is the first step toward resolving it. However, there could be many reasons your house isn’t selling. We’ve asked real estate professionals and agents from all over the country what those top reasons might be — and they’ve provided some sound advice on how to remedy each situation.
High Price
In a seller’s market, a seller may feel comfortable pushing the asking price a bit higher, but this is often a huge mistake. If your home is listed at a price that is above market value, you will absolutely miss out on prospective buyers, and your home will be on the market for longer. Always get an analysis of your real estate market with a professional agent, comparing solid homes, and looking at specific market trend data.
Home Improvements
It can be a bitter pill to swallow to pay for home improvements that you may not enjoy for long. But if you want to sell for full asking price, you might need to get your house in better condition. Buyers want the most house for their money. If yours doesn’t stack up to comparable homes in the area, that’s a problem. And sometimes, simple additions can make all the difference. A pull-down goose neck faucet for example, or an upgraded ceiling fan, a double-bar towel rack can all help.
Title Issues
When I say title, I mean the document that shows ownership. One reason a house won’t sell is because there is a problem with the title to the house that spooks buyers.
Poor Property Photos
90% of buyers start their search online and make a decision about whether to come see your house based on a quick skim of your listing photos. If there are few or no photos, or if the photos look bad because they weren’t professionally taken or because the house is cluttered, most buyers will move on to the next listing. When there are a lack of pictures, it’s true that potential buyers often assume the worst.
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