Houses can fly off the market when inventory is low and there’s strong buyer demand. In fact, these sellers’ markets are typically the BEST time to list a house and get top dollar for it.
So, why don’t all homes sell in a seller’s market?
Here’s why.
5 Reasons Houses Don’t Sell in Sellers’ Markets
When the market’s hot and available houses are simply NOT getting attention:
- The issue is usually related to the home or listing.
- There may not actually be a “problem,” per se, but buyers’ perceptions matter.
In most cases, at least one of the following factors is at play when a house sits around on the market, with little to no offers.
1. The listing price is too high.
Buyers are often willing to pay more for homes in a seller’s market, but there’s a limit. So, overpriced homes can be an easy ‘no’ for buyers in the earliest stages of their search. In fact, if the house is priced too high, some buyers may never even see or consider it because it’s outside of their price filters in online searches.
This is one reason why it’s so crucial to price houses just right when they first go on the market. Sellers who overshoot the mark may end up getting far less for their home in the long run, especially if they have to drop their asking price multiple times.
2. The location and/or condition are undesirable.
Is the house in a remote area or an unpopular neighborhood? Is it right next to a noisy commercial property, a high-traffic interstate, or another potentially unwelcome feature?
If the location isn’t an issue, the condition of the house may be. Specifically, buyers can be turned off by visible roof damage, dented siding, peeling paint, and poor curb appeal in general.
While an experienced Realtor® can address these issues in more detail, sellers may start to clue into these problems if they aren’t getting any interest in showings despite having their listing up for a few weeks (or more).
3. The house is poorly staged.
If prospective buyers are showing up to tour the house and then sellers hear nothing after, there could be an issue with the condition of the home (as discussed above) —OR it could be a staging issue.
Home staging refers to the process of preparing a house to be shown to potential buyers. As such, staging a house can involve doing things like (but not limited to):
- Removing personal items
- Deeply and thoroughly cleaning the house
- Reorganizing furniture to create a better flow
- Adding plants, mirrors, and/or lighting to open the space up more
If a house hasn’t been thoughtfully staged, it can be challenging, if not impossible, for buyers to see themselves living there. And that gives them another easy reason to pass up one house and move on to another.
4. The seller is difficult or scaring buyers off.
Selling a house can be emotional for some homeowners, especially those who have deep personal connections to a home. Still, that sweet sentiment can come across very differently to buyers, especially if sellers do things like (but not limited to):
- Hovering over buyers as they tour the house
- Telling buyers all of their personal stories about the home
- Insisting the property is in perfect condition when it clearly is not
Beyond that, sellers can also be difficult if they make it impossible to see a house or if they only offer tours during very small windows of time. Any of that can be enough to drive interested buyers away.
5. The house has sat on the market for a while.
Unlike fine wine or cheese, listings for homes do NOT age well. In fact, the longer a house sits on the market, the more likely it is that buyers will question why. They’ll wonder:
What’s WRONG with that house?
There must be something wrong with it if it’s sat around for so long. Otherwise, someone would have bought it already!
And thoughts can be enough to send them looking in other directions, even if there’s absolutely nothing wrong with the house.
Experienced Help Selling Your Texas Home & Cash Back at Closing
If you’re getting ready to list a home in Texas, getting a little help from a pro upfront can go a long way to setting the sale up for success!
To get experienced help selling your house — and you can get cash back at closing — work with the 5-star Realtors® at New Home Gurus. We can guide you through the process, helping you with offers, negotiations, and closing. Plus, we’ll split our commission with you at closing!
Home sellers who work with New Home Gurus can get back an average of $4,500 to $12,000 at closing.
How Much Cash Can You Get after Closing?
Call (281) 668-8124 or Contact Us to Find Out Now
We are standing by, ready to answer your questions and explain the details of our commission-sharing program.