Likely Reasons Your Home Isn’t Selling (And What to Do About It)

The price is too high

A good real estate agent should discuss with you pricing and possible price improvements. Sellers typically believe their home is worth more. Sometimes once the home is listed and feedback received a seller will agree to a price improvement.

2. You have a specific problem to address

If it cosmetic with obvious repairs need you may want to complete the repairs prior to listing. At Coldwell Banker we have Revitalize (https://www.coldwellbanker.com/Coldwell-Banker-Realty-12609c/Tom-Mason-7461293a/pages/realvitalize-0-6606 ) a program that will allow you to complete repairs and pay the cost of the repairs at closing.

Many buyers can be sticklers about home condition. According to a 2020 survey of over 2,000 adults from Coldwell Banker, 80% of Americans say they would prefer to buy a move-in ready home over one that requires renovations. In addition, 70% of millennials and 71% of Gen Xers would be willing to sacrifice the size of their home for one that required no updates.

3. Your home is unconventional

One example is: two complete living spaces under the same roof. A very large, high-end or expensive houses, or homes located in unusual areas or with quirky features and style may also be challenging to sell.

A good real estate agent can adjust their marketing strategy to target people that may be interested in the unconventional. Especially with all the new construction home being built in the Charleston area.

4. Staging:

A home should be staged in such a way that prospective buyers can imagine where their furniture will go. Clutter makes rooms feel smaller. Personal photos should not be displayed since buyers need to picture their family in the home.

5. Curb appeal

More than 75% of top real estate agents across the country say well-landscaped homes are worth anywhere from 1% to 10% more. These same agents say boosting curb appeal is often the most effective action you can take to improve the marketability of your home.

6. Your listing photos aren’t professional quality

I have seen some listings where it is obvious the photos were taken on a cell phone. This is fine when you first list and are awaiting professional photos. A listing agent will handle scheduling professional photos and most at no additional cost to you. Also decluttering is helpful!

7. You are getting bad advice.

Your real estate agent should collaborate on pricing, staging, and curb appeal as well as drive the marketing efforts and analyze the need to make changes based on feedback from showings.

8. You are a helicopter seller

The process works best when sellers just pass off the keys and let a real estate professional guide them through the process,” says Lord. “It seems to flow a little bit better for everybody.” Your real estate agent should keep in constant contact to let you know how showing are going and discuss any issues to address.

9. Increasing interest rates

“MARRY THE HOUSE, DATE THE RATE”

If someone is renting the interest rate is 100%!

No one knows for sure where interest rates are headed. The comments are my opinion based on my knowledge. A good lender partner can work with a buyer to get them the best rate. Since rates have increased from where they were a few months ago buydowns have become a possible solution. For more info on what our partner offers go to: https://www.grarate.com/coldwellbanker.