Reasons Why Your Home Is Not Selling and Tips On How to Sell It.

Why do some homes linger on the market for months – or years – while others are snapped up in a matter of days? While much of it has to do with price and local inventory, a whole host of factors can conspire to make a home sit and stagnate on the multiple listing service without showings or offers.

Here are some reasons why your home may be on the market for longer than expected:

Price is usually the overriding factor in any home that doesn’t sell. Whatever its problem, it can usually be rectified by adjusting the price. You know you have hit the right price when you have interest and offers from multiple parties.

Everybody’s taste is different, so less is more when it comes to decor at sale time. Loud patterns and bold colors can be big distractions. Interior treatments such as mirrored walls, cheap wood paneling and 1970s kitchens can turn many potential buyers off.

Condition of property
If a home looks as if it’s going to cost half as much to repair or renovate as it does to purchase, it’s going to take a long time to move. If you don’t fix it, then prepare to reduce a large chunk off the price.

Homes that are close to a power plant, waste-treatment facility or busy freeway will often sit, unless the seller is willing to take a major hit on the price. If the neighborhood has disintegrated, or if crime is up in the area, it becomes progressively more difficult to sell.

Surrounding homes
If you have the nicest, largest and most elegant house in the area, it may be difficult to sell. People are paying not only for the house but also for everything around it. If the homes around yours don’t mirror yours, you might have a hard time getting your price.

So if you want to sell your home fast, then:

1. Be realistic about the price.
Price will overcome any objection. Don’t listen to your neighbors or get stuck on what you think you should get. Look at comparable sales and pay special attention to homes that are similar to yours.

2. Keep your décor neutral.
Everybody’s taste is different, so don’t stage your home as a showcase of your own bold or traditional style. Buyers prefer a minimalist canvas in which to project their own tastes.

3. Chose your MLS photos carefully.
Make sure the photos you submit showcase the rooms or features that are the true selling points. Buyers are making quick decisions about real estate online. Don’t give them a reason to say no.

4. Keep your home ready to sell from the day it hits the MLS.
Your home should be clean, decluttered and ready to show from day one to generate the most interest and offers. If you wait too long, then buyers may perceive a problem with your property.

To learn more about Virani Real Estate Advisors or to discuss a property sale or purchase, email us at [email protected], visit one of our offices, or call 604-913-1000.

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