Your house has been on the market for weeks and you see other houses around you selling quickly. You might be thinking , we are in a “sellers market,” – what the heck is happening? In today’s post, we will be going over 6 reasons as to why your house may not be selling, and what you can do to increase the number of buyers interested in your house.

Reason #1, Your Property is Priced Too High. 

Before putting your house on the market, make sure you have a discussion with your real estate agent about the most accurate price of your home. Sometimes, sellers have a personal bias towards the home and think it’s worth more than it actually is. Do your best to remove that bias, and talk to your agent about features of the home, comps in the neighborhood, and other factors to accurately price your home according to the market. If your home isn’t selling after 10 days, it may be time to consider a price reduction to attract more buyers in an expanded buyer pool. Accurate pricing is the most important.

Reason #2, Your Property Lacks Presentation.

You want to give your buyers the best first impression no matter the condition of the home. If the house is empty, consider staging the property. Even virtual staging will help tremendously, because remember, your property is being marketed like a product – Little details go a long way – Open the curtains, let the light in and make the property feel as welcoming as possible. The goal is desirability, you want people to be able to envision themselves living there. 

Reason #3, Your Property Has Poor Photography & Video.

The third reason why your house is not selling is because the online photos are poor. When shopping for homes, buyers look online first, so having high quality online photos is CRUCIAL. Make sure your agent is hiring a professional interior photographer, and they are not using a phone. Don’t get me wrong, phone cameras ARE very good, but they simply DO NOT COMPARE to professional photography taken on a high end camera. Professional photographers know how to capture your home in the best light possible!

Reason #4 Your Property Requires Too Much Work.

The fourth reason is that your property may require too much work.. If the property needs work this can limit your buyer pool. Property that needs updates or major renovations generally takes longer to sell. This is because the property requires specific buyers that have access to flexible financing. That buyer demographic will  flippers, builders, developers or investors. Talk to your agent about their plans and marketing strategy. This will help set realistic expectations and ease your anxieties about selling.

Reason #5 Your Property Is Not Accessible.

Make sure you have an open door policy when you are ready to sell your home. If you aren’t flexible and accommodating with showings, you are only limiting your opportunities.. Make sure you clearly communicate with your agent about your schedule and try to accommodate as many showings as possible. While your property is listed, it’s best  to keep your home in show ready condition, this will help alleviate your stress and allow for short notice requests. 

Reason #6: Your Property Has The Wrong Marketing Strategy.

Every property is different, and requires different marketing strategies to attract buyers! For example, luxury properties have more aggressive strategies and are marketed in different areas like New York Times, or Boston Globe.  Make sure that you do your research on your agent’s marketing capabilities before hiring them. The Fitzpatrick Team has proven marketing strategies to get your home sold, including: high end photography, edited video, drone video, digital walkthroughs for social media, floor plans, virtual staging, and so much more! 

Those are the 6 main reasons as to why your house might not be selling. Every property is different. If your property has not sold, take your personal bias out of the equation and lean on your agents personal opinion. 

 If you’re looking to sell in Rhode Island, the Fitzpatrick Team can help make sure none of these things happen to you. The Fitzpatrick Team sold over 170 homes in 2021, totalling $93 million in sales. This made us the number one team across all brands in Newport County, and the number one REMAX team across the entire state of Rhode Island. With extensive experience and proven selling strategies, we have a reputation you can trust!