Recent statistics reveal that six million homes were sold in February 2022. This is down 2.4% from the previous year. 38 days on the market is average for homeowners as of March 2022. Further, the prices for homes increased dramatically from 2021 to 2022. As of January 2022, the median home price is $357,300. It seems like a great time to sell, but what if your house is not selling? Don’t give up. It sounds like you could benefit from some good house selling tips.
Keep reading this article for brilliant advice that will help you get to the finish line with your home for sale.
Reasons Your Home Is Not Selling
A perfect home may not attract attention, and a homeowner wonders if it is the home.
First, know that it can be more complex than pinning it for just one reason. Sometimes there are multiple factors, and some (or all) are not in your control.
Let’s review a few common reasons to consider, and then discuss how you can solve them.
Price Is Too High
This is the most common reason if you find that your home is sitting on the market for too long. You will want to avoid pricing it too high.
A good real estate agent can help you with this. It helps to evaluate the price of similar homes in your neighborhood.
Listing Is Not Up to Date
Prospective home buyers learn about your property from your home listing. If you are not seeing interest, it could mean that something is missing from your listing. Check to see if there are important details missing or if the photos you have published are up to date.
Not Enough Marketing
You expect that your real estate agent will generate enough interest because it is their job to market your home. However, social media has grown so much that you can market your listing yourself, too. Share your listing on your social media profiles and share it with local community groups, too.
Now that you know common issues, let’s delve into a few solutions to get your home to sell.
Lower the Price
It is best to have your real estate agent advise you on the price to sell your home. However, if you think that the price is causing the biggest issue, you might lower the price. Talk to your agent and let them know your concerns about the price.
Sweeten the Deal
There are a few perks you can add to make your home more attractive to buyers. If your home has been on the market for a while, potential buyers can be wary that there is something wrong with it. You can add an owner’s title insurance policy or a home warranty to help assure them that the property is in good condition.
Take Better Pictures
While potential buyers really need to see a property in person to form a final opinion, the pictures you share online are just as important. They will give a first impression that can make or break a deal. The photos you share should make your property stand out from others in the area.
Equally important is that the photos of the home should match the season to what it is currently. That gives the impression that you are sharing images of the property in its “current” state. Also, you want good lighting, so it may help to enlist the help of a professional photographer.
Postpone Selling Your Home
You can sell your home, but sometimes, it pays to wait and sell. Now may not be a good time. It could be during the holidays when people are not looking at homes or maybe the market is in a slump.
There may be a better time in the market to sell a property, and you want to take advantage of that.
Change Your Realtor
Real estate agents are not all created equally. Some are better than others. You may need to find a better one.
It could be the real estate agent has a lack of experience with your type of property. Personal challenges may distract them. Whatever the reason, you can look for an agent that is a better fit for your situation.
When you make a switch, this can be a simple, effective way to push your house over potential hurdles and get it sold.
Rent to Own
Sometimes you can attract a buyer that may not be ready to buy a home. Lease options and rent-to-own offers may be a way to entice them.
In these types of deals, you can give someone the opportunity to rent the home for a higher price than what the average market is for rent. Later, they have the option to buy. This will be at a specific price.
A rent-to-own tenant will usually take better care of the property than just renting it out without an option to buy. You can make an agreement with such a tenant that they would be responsible for any repairs, which would save you money, too.
Sell the House for Cash
There are real estate buyers and investors that are always hunting for deals, so you could attract cash home buyers at a lower price. In these cases, you do not have to wait long. This biggest advantage is that you can complete a transaction quickly.
It is not uncommon to sell to cash home buyers. You probably see signs on the sides of the road while you are driving. It could be a good option if you are tired of waiting for a buyer.
Memphis Cash Home Buyer
We Buy Memphis Houses commits to helping your community, largely because we are a part of it. Our amazing people have been in your shoes before, and we want to help. We know how stressful it can be to sell or purchase a home.
Sometimes you need another option, something that is simpler. That is where we come in with reasonable cash offers.
We make it easy to achieve your goals. Contact us today to discuss options for your property.