A house that is sitting on the market for too long will only end up adding costs! In our latest post, we will help you learn how to sell your house faster, avoiding a dreaded stagnant listing.
When a house sits on the market for weeks or months at a time, the chances of selling decrease exponentially . It will drop down the list of available properties, getting viewed by less and less people. And even worse, when it sits in the market for a long period of time, people will begin to think there is something wrong with it! Even if it is in great shape, properties that stay on the market for a long time often become avoided. On the MLS and listing sites such as Zillow and Trulia, prospective buyers can easily see price changes and how long it has been on the market. Repeatedly dropping your price can make you appear desperate, making people feel as if they can offer a low price and you will accept. Below, we offer some insight as to why your house isn’t selling and what you can do about it.
Why It’s Not Selling
Priced Too High
That’s usually the number one reason! If a house is priced too high, people will pass on by, and therefore the listing will slowly make it’s waaaay down the list so even if you drop the price to something more in accordance with the market, you won’t have a lot of people actually seeing the listing.
Bad Photos or Description
You never get a second chance to make a good first impression. I can’t stress that enough! Any aspect of a bad listing will make people look the other way. Usually, when you see a house with terrible pictures, or just two or three pictures, it doesn’t get your attention versus a listing that has wonderful pictures (even if the house is not wonderful). In order to have a successful listing, you should take the time to clean the clutter out of the house. Make sure there is a lot of light in the photos and even bring in a professional photographer when needed. Paying a little upfront will make a huge difference in how your listing is received. You should also make sure the description is accurate. HIghlight the positive features and amenities of the house, being sure not to leave anything out.
Dark and Dreary
When people come to view the house, they shouldn’t feel as if they are in a cave. Open all the curtains and let in as much light as possible. Your prospective buyers will feel more comfortable in an open space as opposed to a confined and dark area.
Major Repairs Required
Many financial institutions do not approve loans for people to buy houses that need a lot of repairs. If your property is run-down or needs a good amount work, a direct sale might be a more realistic way for you to go.
What A Stagnant Listing Is Costing You
The longer your listing sits in the market, the more the house ends up costing you. You will be sinking money into the house for the continued expenses such as utility bills, homeowners insurance, and property taxes. You will also have to consider the time and money you put into the house getting it ready for the listing, sometimes all for naught.
What You Can Do About It
Avoid The MLS Altogether
Many people in New Jersey and across the country are choosing to sell their homes to buyers directly. The process will free them from commissions, repair costs, and not knowing when the house will sell. At Orange Sun Investments, we are a team of direct buyers who can make an offer on your house in less than 48 hours! There is never any obligation. If you have tried to sell in the past without any luck, or if you simply want to sell without any cost or waiting, a direct sale is an option you should seriously consider.
If you decide to relist the property, you may decide to do things differently the second (or third) time around. If you are going to do it, do it right. Make the investment in a professional photographer or videographer. Pay the costs for the featured and upgraded online listing options. Do whatever you can to quickly get your house in front of as many people as possible.
Set The Price Right From Day One
Nothing can destroy a great listing faster than an unrealistic price. People will immediately assume the house is out of their league or that you don’t know what you are doing. Either way, your listing won’t be taken seriously. By pricing it right from the start, you will have a better chance of attracting prospective buyers and selling the house as fast as possible.
Do you have a house you want to sell in the NJ area? Whether or not you have tried to list the home in the past, we can help you avoid the waiting, hassles, and costs of a traditional MLS listing. Find out what a direct sale can mean for you! We always make fair and honest offers for New Jersey houses!