4 Reasons Why Your House Isn’t Selling

May 16, 2020

Have you been asking yourself why your house isn’t selling? No need to panic, here are 4 reasons why your home might not be selling as fast as you would like it to. Fixing these 4 issues will definitely decrease the time spent on the market. 

But first, picture this:

You’re moving to a new job or to be near family. You’re excited for the next phase of your life, but need to sell off your current home first. You set up the listing, reach out to the top realtor in Victoria, BC, and get the home ready, but get no reaction at all. 

 

Maybe you get a few offers trickling in now and again, but they are far below what you are asking. Time starts to pass, and maybe you’re a bit worried about missing a deadline. What do you do? When it comes to why a home can’t be sold, there are some surprise reasons you may not be aware of. Here are some examples.

 

Poor Listings: You know what your house has to offer to a potential buyer, but that buyer won’t, at least, not right away. A real estate listing is designed to help bridge that gap. However, there are quite a few things that can make a real estate listing less than effective. These range from bad image quality to a poor explanation of the home’s benefits in the listing text.

 

Pricing Too High: This is probably the most common reason why your house is getting passed over. Most buyers will research a few similar properties in a given area to determine what the ideal price is. You should do the same before putting up any price on your own.

 

Unconventional Homes: Depending on the layout or features of your home, it may be a bit more “unique” than some of the other options on the market. A good example would be a home built for two separate residents (two kitchens, living rooms, etc.) These aren’t going to fit the needs of every single person, so you and your realtor need to discuss the ideal type of buyer you should target.

 

Market Factors: Lastly, and this may be hard to grapple with, there are always going to be things that are out of your control. Depending on the state of the economy, there may simply not be a lot of people looking to buy homes right now. By the same token, the area you live in may fluctuate when it comes to desirability. The best thing you can do to avoid this is research trends related to real estate in the months or even years before you decide to sell. This may give you a warning to try and delay things.

 

If you’re not happy with the amount or type of offers you are getting for your home, don’t automatically assume you need a massive renovation or to wait until a different time of year. There may be other areas of your strategy that aren’t working right now, and just need a bit of adjustment. This begins by reaching out to the best realtor in Victoria, BC. With our support, you can figure out what’s wrong with your existing strategy, and get an expert to attend to any outstanding issues. Be sure to contact our team today.