Most of the United States is experiencing what is called a buyers' market.
Simply put, this means there are more houses available for sale than there are buyers who are able and willing to buy them.
That being said, there could be any number of reasons why YOUR home is not selling.
Without seeing your home and studying your market, it's difficult for me to give you any specifics on your home.
For sake of discussion, let's take a look at some factors that are within your power to influence.
The sales process - no matter what you're selling - starts with awareness.
Do buyers even know that your home is for sale? At least some awareness has been achieved if your home is being shown by your agent (or if you're selling it on your own, you're getting calls or inquiries).
If no one is calling or coming to see your home, you have an awareness problem.
Your home is not getting enough exposure.
This can be corrected by posting in for sale on-line on both free and low-cost web sites.
Make sure it's listed on the MLS, the Multiple Listing Service for your area.
Any and all on-line postings must have pictures.
It's not just a cliche that "a picture is worth a thousand words.
" Buyers are very visual, and most of them begin their search on-line.
If your home has no picture, there is nothing to grab their attention (the next step of the sales process).
Also, make sure you have for sale signs or even a banner in your yard and on either end of your street to attract attention to your home.
People who are not actively searching on-line or who may be able to refer a potential buyer will notice your home this way.
Another reason people may not show up even when you've covered the awareness factor is due to price.
If you're doing all the above and people are still not coming to see it, chances are your home is priced too high for the neighborhood.
Buyers spend months educating themselves on home prices before they actively begin looking.
They are wise to over-priced homes.
Let's assume you're getting the buyers to take a look, but they're not spending much time in your home and they're not making any offers.
If you're using a real estate agent, you may not know how long buyers are spending in your home.
You could ask them to take notes on that, or you could park down the street and time the visit yourself.
It goes without saying that someone who is truly interested will spend more time in your home.
One real estate agent I know says she gauges a buyer's interest in a home by whether or not they use the bathroom when they're there.
A high percentage of those buyers end up making offers on the home, at least according to her experience! If buyers are in and out of your home quickly, the trouble may be due to a seller's blind spot.
You see, most sellers have a blind spot when it comes to seeing their home objectively.
It's not surprising; it's human nature.
Whether it's a cobweb in a difficult to reach (but easy to see) corner or a few broken tiles that "you'll get around to" fixing, eventually our eyes become so accustomed to seeing it that we DON'T see it anymore.
However, a potential buyer who is not used to your home will likely spot every little detail that needs tending.
In the buyers' eyes, they are like big red flags! They are getting a lot of practice in this area since there are so many homes to choose from.
In your eyes, it may not seem like a big deal.
Chances are, though, buyers will use these things to eliminate your home from their list.
They need some way to narrow down all their choices.
This "blind spot" encompasses all the senses, not just sight.
Buyers will smell the garlic and onions you cooked for dinner last night and the "eau de Fido" of your four-legged friend.
They will also hear the squeaking screen door and the creaking stairs and feel the paint spatters that you didn't bother to wipe off the counters when you last painted.
If you are currently living in the home you are trying to sell, you may also have an emotional blind spot as well.
We tend to believe that our home is better than our neighbors.
It's an ego thing.
It causes us to overestimate our home's positive features and underestimate the impact of our home's negative aspects.
This is why many homes are initially over-priced.
Blind spots can be corrected in two ways: you can fix the issue or lower your price.
You may need to do both.
Simply put, this means there are more houses available for sale than there are buyers who are able and willing to buy them.
That being said, there could be any number of reasons why YOUR home is not selling.
Without seeing your home and studying your market, it's difficult for me to give you any specifics on your home.
For sake of discussion, let's take a look at some factors that are within your power to influence.
The sales process - no matter what you're selling - starts with awareness.
Do buyers even know that your home is for sale? At least some awareness has been achieved if your home is being shown by your agent (or if you're selling it on your own, you're getting calls or inquiries).
If no one is calling or coming to see your home, you have an awareness problem.
Your home is not getting enough exposure.
This can be corrected by posting in for sale on-line on both free and low-cost web sites.
Make sure it's listed on the MLS, the Multiple Listing Service for your area.
Any and all on-line postings must have pictures.
It's not just a cliche that "a picture is worth a thousand words.
" Buyers are very visual, and most of them begin their search on-line.
If your home has no picture, there is nothing to grab their attention (the next step of the sales process).
Also, make sure you have for sale signs or even a banner in your yard and on either end of your street to attract attention to your home.
People who are not actively searching on-line or who may be able to refer a potential buyer will notice your home this way.
Another reason people may not show up even when you've covered the awareness factor is due to price.
If you're doing all the above and people are still not coming to see it, chances are your home is priced too high for the neighborhood.
Buyers spend months educating themselves on home prices before they actively begin looking.
They are wise to over-priced homes.
Let's assume you're getting the buyers to take a look, but they're not spending much time in your home and they're not making any offers.
If you're using a real estate agent, you may not know how long buyers are spending in your home.
You could ask them to take notes on that, or you could park down the street and time the visit yourself.
It goes without saying that someone who is truly interested will spend more time in your home.
One real estate agent I know says she gauges a buyer's interest in a home by whether or not they use the bathroom when they're there.
A high percentage of those buyers end up making offers on the home, at least according to her experience! If buyers are in and out of your home quickly, the trouble may be due to a seller's blind spot.
You see, most sellers have a blind spot when it comes to seeing their home objectively.
It's not surprising; it's human nature.
Whether it's a cobweb in a difficult to reach (but easy to see) corner or a few broken tiles that "you'll get around to" fixing, eventually our eyes become so accustomed to seeing it that we DON'T see it anymore.
However, a potential buyer who is not used to your home will likely spot every little detail that needs tending.
In the buyers' eyes, they are like big red flags! They are getting a lot of practice in this area since there are so many homes to choose from.
In your eyes, it may not seem like a big deal.
Chances are, though, buyers will use these things to eliminate your home from their list.
They need some way to narrow down all their choices.
This "blind spot" encompasses all the senses, not just sight.
Buyers will smell the garlic and onions you cooked for dinner last night and the "eau de Fido" of your four-legged friend.
They will also hear the squeaking screen door and the creaking stairs and feel the paint spatters that you didn't bother to wipe off the counters when you last painted.
If you are currently living in the home you are trying to sell, you may also have an emotional blind spot as well.
We tend to believe that our home is better than our neighbors.
It's an ego thing.
It causes us to overestimate our home's positive features and underestimate the impact of our home's negative aspects.
This is why many homes are initially over-priced.
Blind spots can be corrected in two ways: you can fix the issue or lower your price.
You may need to do both.
Source...