Sioux Falls Real Estate Blog

There are many factors that result in not being able to sell your home. Listed below, are some of the top reasons they don’t sell. Take a look and see if there are any that relate to your home, then if possible use these examples to help you sell your home.

1. Priced to High- Pricing your home to high is the most common reason for not being able to sell your home. Usually, this results from overly enthusiastic listing agents to unrealistic seller expectations. Even if you do get an offer for the asking price, by the time closing comes around the buyer might not have the financing available to go through with the deal. Also, if your home is overpriced, the property may not appraise at the asking price causing financing to fall apart.
2. Doesn’t Show Well- Your home is competing with other comparable homes in that specific market. Most of the time the problem is relatively inexpensive to correct. Usually your home needs a new coat of paint or a thorough cleaning of carpets and floors. The best thing to do when deciding how to spruce up your place, is to put yourself in the buyers’ shoes and ask yourself what they would want done.
3. Location, Location, Location- Every piece of real estate is unique. There is not one lot that is like another. Factors that influence buyers when looking at location are the proximity to schools, surrounding homes in the neighborhood, noise, and crime rates to name a few. The only remedy for homes in a bad location is to lower the price.
4. Market Conditions- Usually if your home is not selling it is because you are dealing with a slow market, also called a buyers market. A buyers market is described as too many homes for sale and not enough active buyers. Some of the forces that determine the market conditions are the local economy and interest rates.
5. Bad Marketing- Make sure your home is easily accessible through multiple sources such as your agent’s website (if they have one), Multiple Listing Service, real estate publications, and the local newspaper. Also, you should try and highlight the features of the home and make it look presentable. A lot of times cutting the grass, setting flowers out in the kitchen, and lighting candles really increase the chances of your home selling.