If your home’s not selling, you’re not alone! The average agent only sells 60% of the homes they list.

Is your Home not selling, here in Charlotte North Carolina? It’s not a seller’s dream scenario: you put your house on the market, hoping for a quick sale — but boy were you wrong. You haven’t received any offers and showing requests have been few and far between, leaving you to ask: Why?

We’ll review 5 of the most common reasons why homes linger on the market and go over actions you can take. It’s frustrating to say the least, but you shouldn’t wait any longer to make some changes, especially if your home’s total days on market is more than a month.

Here are the 5 Reason’s why home’s do not sell:

1. Price

2. Location

3. Condition

4. Marketing

5. Showability

1. Price

Arguably the most important factor to whether a home sells or not is the price.  If you’re wondering why your home isn’t selling, the first thing you need to ask yourself is if your home is priced too high.

These are the factors to consider when determining your home’s value:

1. Location

2. Fair Market Value

3. Economic Trends

4. Condition of Property

5. Market Supply & Demand

6. New Construction 

Sellers often make the mistake of starting with a high asking price, and lowering it later if it doesn’t sell. But this is a terrible pricing strategy. That’s because the first 2 weeks on the market are the most important! The reality is, overpriced homes take a while to go under contract, and often sell for less than market value.

In a seller’s market like ours, the longer a home is for sale, the less desirable it becomes. Buyers just assume there is something wrong with older listings, and they only pay attention to new ones. Plus, the listing gets buried in the second or third page of search results. So an extended number of Days on Market (DOM) is the kiss of death in real estate.

Overpriced homes also attract fewer qualified buyers, reducing the buyer competition. While sellers can ultimately choose the asking price, the market sets the value of a home. Going above or below that value changes the number of buyers who will show interest.

 2. Location

It’s the oldest cliche in the world, but it’s true. When it comes to real estate, it’s all about location! You need to sell your home, but it’s admittedly not in the best location. Despite your custom french doors, chef’s kitchen, or other coveted features, you can’t change the fact that your property backs onto a busy highway or that you’re close to a landfill. 

These are some factors, out of your control, that can affect your home’s value:

1. Located near power lines

2. Located near train tracks

3. Located near an airport

4. Near a major/busy road 

 5. Located near a landfill

6. Bad neighbors

7. Living near unkept, or ‘Zombie’ houses

8. Proximity to certain facilites & businesses

However, with the right strategy, even a house next to a high-voltage power line or smack dab in an airport flight path can attract a buyer and fetch a fair price. Found out how real estate experts suggest tackling the tricky task of selling a home in an undesirable location. 

Many location problems can’t be fixed. You won’t stop trains from rumbling down that track behind your home, for instance, or put an end to crime in your neighborhood. But you can take steps to reduce some location problems.

To muffle noise, for example, you can invest in soundproof windows. (If that’s not in your budget, Garay suggests keeping your windows closed during open houses.) To prevent your home from being an easy target for crime — and to give prospective buyers peace of mind — install a state-of-the-art security system or privacy fence.

5. Showability

To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. Make your home as easy to show as possible. If you turn a buyer away, they may never come back.

If you are unable to accommodate showing the home, then you will loose great showing opportunities, and may miss the opportunity of showing the home to the “right buyer.”

Homes sell every day for less than their potential value, due to the wrong pricing strategy, a lack of preparation, poor presentation, inadequate marketing and promotional efforts, and/or weak negotiations. All of which reinforce the point that who you hire matters—and that’s the secret to getting higher offers. If you’re looking to buy or sell a home, and want an agent who will listen and work hard to get your home sold for top dollar, call or text me at 704-631-3977.

If you are thinking of selling your home, and are considering interviewing agents, watch this video.   In this video we review the 10 questions you should ask your listing agent before hiring them to sell your home. 

If you are looking to purchase or sell a home we would be honored to help find what moves you.

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