Why Hasn’t My Home Sold?

Why hasn’t my home sold? When people talk about their home-selling experiences, there’s a wide range of stories, and usually we remember the most outlandish ones. “I sold my home in a week for $10,000 over the asking price, with multiple offers!” or “my house was on the market three years before I sold it, and I had to decrease the price three times before I got any offers” are two extremes of the same spectrum.

Why Hasn’t My Home Sold?

The number one reason why your home isn’t selling comes down to two variables:

  • Price
  • Time

What’s a seller to do to ensure their property sells for a good price? The answer is in their timing. If you have time on your hands and your home is priced a bit higher than comparable recent sales, you have the luxury of waiting for a buyer who sees something unique in your home and makes an offer close to your asking price. You also have the luxury of waiting for the market to catch up with your home’s price. On the other hand, if you don’t have much time, you’re going to have to find another solution.

Why hasn’t my home sold? Image via PNWR.com.

3 Solutions For Selling Your Home

  1. Making improvements
  2. Renting your property
  3. Pricing more competitively

Making improvements to your property to increase its value is one way to help it sell, although it requires more investment of work and/or finances. Renting requires less work (although it is still labour intensive). Often, getting a tenant is the only choice for sellers who need to wait for the market to improve so that they can get a certain return on their sale. You know what the other solution is: a lower price – pretty straightforward. Any REALTOR® worth her/his salt will give you several pricing options and work with you to get your home sold according to your goals.

For more assistance with selling your home enter here.

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