Are you a homeowner trying to make a home sale but struggling? If you keep asking yourself, “Why isn’t my house selling?” there could be a few reasons to explore that will help you sell your home in no time.
Luckily, home sellers having difficulty selling their homes are in the right place to get to the root of the problem. Let me, Kimmie Fine, an expert Tampa real estate agent, help you understand why your house isn’t selling and how to sell your home in Tampa!
Why Isn’t My House Selling: Common Issues
The most common reason your house isn’t selling is because the price is too high. Though the current market conditions say it’s a seller’s market, where homes are selling quickly (and for record prices) because of low inventory, it’s still essential to price your home based on its current market value.
When the asking price is too high, it turns buyers away. To determine your home’s value, compare it to similar homes. Look at the listing prices and price per square footage for homes in your neighborhood with comparable features.
If you conclude that the price is too high, the best thing to do is consider a price reduction. However, relisting at a lower price sometimes doesn’t look good and can possibly give prospective buyers the impression there’s something wrong with the property.
Thus, it’s best to price the house correctly from the beginning to avoid this situation. While setting a fair listing price is vital in a seller’s market, it’s even more important in a buyer’s market, where more properties are available than buyers. If you overprice in a buyer’s market, you can expect your home not to sell for a prolonged period.
1. Your Home Isn’t Making a Good Impression
Most buyers want a turnkey property, one that needs minimal work. Since the median sales price for single-family existing homes in Florida in August 2023 was a sky-high $415,000, it’s imperative to show off your home’s best features.
The Solution
Start by decluttering, especially the living room and kitchen, where interested buyers and buyer’s agents are likely to spend the majority of their time during an open house.
Then, consider home staging. This can help buyers imagine how they would feel living in the home. When buyers come to the house in person and walk through the front door, they should instantly feel at home.
The listing description should highlight the home’s best features, whether the newly renovated kitchen or the massive yard. And use a professional photography expert to help you capture those features!
Lastly, don’t forget about curb appeal. Invest a little in making the landscaping better to show off the home’s exterior.
2. It’s an Unusual Property
An early 2023 report on the Central Florida housing market shows that inventory is still low. Although rising interest rates have some potential buyers reconsidering if they want to enter the real estate market, there are still plenty of interested home buyers.
Yet, if you live in an unusual property, selling will be more challenging despite the market conditions. Maybe you have a six-car garage or a tree in the middle of the living room. Finding an interested buyer who loves the property’s uniqueness as much as you do will take time.
The Solution
To sell the home, consider alternative marketing. You may need a more targeted strategy to find the right buyer, which a real estate professional can help you craft.
Additionally, use social media to show off your home. Hashtags can help attract the perfect buyer.
3. You’re Working with the Wrong Buyers
If you need to find a buyer urgently, or your house has specific problems that need renovation, you need to find a particular type of buyer, someone who can close quickly or is open to handling renovations. You cannot expect most buyers to agree to these terms.
The Solution
Sellers who understand that most buyers have a stretched budget and offer move-in ready homes to buyers are at an advantage.
But that doesn’t mean you can’t find buyers willing to purchase something that needs home improvements. If your home needs a little TLC, there’s a buyer for you. Some lenders even offer special mortgages that help home buyers cover the cost of extensive renovations.
Your real estate agent or brokerage agency can help you find the right buyer for your home, whether it’s an investor, iBuyer, or home-buying company.
4. You’re Getting Bad Advice
You can avoid nearly any issues you face while trying to sell your home by working with a top local real estate agent. If you ask yourself, “Why isn’t my house selling in a hot market?” it’s time to find a new agent.
The Solution
Taking advice from an inexperienced agent or trying to sell a home yourself can be a massive headache. Find someone who can give you better advice! Many expert listing agents, like me, can represent you and sell your home.
5. The Listing Is Outdated
The listing is the first place most buyers go to learn more about a property. If your listing lacks important details or shows unflattering photos, it’s time to change it.
The Solution
Remember to highlight your home’s best features. If the listing photos make your home look dated, get a professional photographer to take new ones!
You should also follow the other real estate listing tips here to stand out from the crowd and ensure your listing is as stellar as possible.
Why Isn’t My House Selling: Work with Kimmie Fine & You Won’t Have to Ask
It’s time to stop wondering, “Why isn’t my house selling?” and partner with one of the top real estate agents in the Tampa Bay area, myself, Kimmie Fine! With nearly 20 years of experience, I can help you with the home-selling process and find your new home.
So contact me today, and let’s get started working together.