My Home Didn't Sell! Now What?

Are you a homeowner stuck with a property that hasn’t sold? Maybe your listing expired, or you withdrew it from the market because the lack of progress so disheartened you. Or perhaps you tried to sell your home on your own with no results.

If that’s you, you’re in the right place! Read this guide to learn…

• The top five reasons a home doesn’t sell

•  Action steps to overcome each of these issues

This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker.

If your home didn’t sell after several months on the market, timing could’ve been a factor. Markets are driven by the law of supply and demand, and real estate is no exception.

When demand outpaces supply, it’s considered a seller’s market and homes get snapped up quickly. In a buyer’s market, however, there are more homes for sale than active buyers. This can cause homes to sell for less money and to sit on the market for a longer period of time before receiving an offer.

Now What?

In most cases, buyers can be motivated to act with a combination of improvements, incentives, and pricing. If you suspect timing played a role in your inability to sell, consult with a knowledgeable real estate agent. We can estimate how long a home like yours should take to sell given current market conditions.

Did your home get a steady stream of showings when it was on the market? If not, you may need to try a new promotional strategy.

Take a look at your listing description and photos. A clear description and high-quality photos are crucial. Many buyers use these to decide whether or not to visit your home. Another factor to consider is whether your listing reached the right audience. Some properties require a more robust marketing approach to be found by the most interested buyers.

If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property.

Start with your home’s structure and systems. Are there any “red flags” that could’ve scared away buyers, such as large cracks in the foundation or water stains on the ceiling? What about neglected maintenance and repairs? Finally, was your home properly prepped to maximize its appeal? A clean and decluttered space helps buyers more easily picture themselves living in your home.

It’s possible your home’s original asking price was set using sales data from before a market shift. But regardless of the economic climate, pricing a home is always tricky because so many factors can impact how much buyers are willing to pay.

Many homeowners are reluctant to drop their listing price. But the reality is, buyers may not seriously consider your property if they think your home is overpriced. If your home sat on the market for months without an offer, then chances are good that your asking price needs to be reevaluated.

If you suspect that your previous real estate agent didn’t do enough—or used the wrong approach—to sell your home, you’re not alone. Many sellers whose listings languish until they expire or are withdrawn feel this way.

Or, perhaps you chose not to hire a listing agent at all and have been trying to sell your home yourself. That can be an equally frustrating experience—and research shows it can actually cost you time and money in the long run.