5 Reasons Your Home Isn't Selling

Are you currently thinking of selling your home? Are you working with a real estate agent who is trying to sell your home? Or, are you trying to sell your home yourself? If you answered yes to any one of these questions, this blog post is for you.

Selling your home can be a monumental challenge, and there are several risks and factors involved. To make sure you have the best chance of selling your home, make sure to be aware of these five factors that will slow down the sale of any home.

1. Price

As a homeowner, you have the authority to declare what price you would like to set for your home. Real estate agents will give their recommendation for a most likely selling price, but the homeowner has the final say. That being said, a homeowner (and a real estate agent) cannot determine the final sales price of a home – the market dictates at what price your home will sell. It is best to first list your home for sale as close to a fair market price so have the best chance of attracting the most buyers in the shortest amount of time possible. Set the price too high, and you won't get any buyers. Set the price too low, and you won't get the money you're looking to get.

2. Terms & Conditions of a Sale

Beyond the price of a home, homeowners have the ability to determine their own terms and conditions of the sale of the home. A homeowner who has restrictive language in his or contracts or does not make efforts in good faith to successfully sell a home can significantly delay the selling of his or her home or even run the risk of losing the sale completely. 

3. Supply and Demand

While you as a homeowner can set the price of your home and the terms and conditions of the sale, you cannot control how many other homeowners are looking to buy or sell their home at any given time. If you are trying to sell your home in a buyer’s market or when the economy is down, you will have difficulty selling your home at the price you want.

4. Availability of Financing

Most buyers require financing when purchasing a home, and easy access to this financing varies depending on the status of the economy. If interest rates are high and home affordability is low, selling a home can be difficult if there are fewer buyers in the market for a home.

5. Marketing Efforts

When selling your home, the critical piece a real estate agent plays in the transaction is the advertising of your property. The more places online and the more ways in person an agent markets your home (and the better the agent does this), the better chance you will have of selling your home at the price you want.

Making sure to stay away from these six pitfalls will be the best way you can sell your home for the most amount of money in the shortest amount of time possible with as few headaches as possible.