Have you ever wondered why some homes sell within a blink of an eye while others languish on the market for months? Perhaps you are grappling with this very issue right now, and despite your best efforts, your property simply won’t sell. If this sounds familiar, you’re not alone. In this post, we’ll delve into some potential reasons why your house may not be selling and explore actionable steps you can take to address the situation.
Selling a home is no easy feat. It requires careful planning, meticulous attention to detail, and a bit of luck. In order to secure a successful sale, you must ensure that your property, pricing, and marketing strategy are all aligned with the current market trends and buyer expectations. If you’re struggling to attract potential buyers, it may be time to take a critical look at your home and evaluate whether your asking price is appropriate for the current market conditions.
Why Isn’t My House Selling in Minnesota
Don’t Be Overly Ambitious With Your Asking Price
One of the biggest mistakes people make when selling a property is failing to take into account the true amount they will walk away with. It’s easy to fall into the trap of simply guessing at the value of your home and adding a bit more for commissions and other listing costs. However, this approach rarely yields accurate results and can cause sellers to grossly overestimate the value of their property.
To avoid this pitfall, it’s important to have a realistic understanding of the value of your home before listing it for sale. One effective way to do this is by running comparative market analyses (CMAs) to determine the sale prices of similar properties in your area. You might even consider hiring an appraiser to conduct a professional valuation of your home to gain a more accurate picture of its true value.
If you do find that you need to lower the price of your house to attract buyers, it’s important to do so strategically and with caution. Continuously dropping the price can signal to potential buyers that there is something wrong with the property, leading them to question its value and desirability. Instead, consider lowering the price in small increments and be sure to highlight any updates or improvements that have been made to the property to demonstrate its worth. By pricing your property realistically and strategically, you’ll be more likely to attract serious buyers and secure a successful sale.
Your Clutter is Off-Putting
No matter how cute you think your stuff is, it’s still YOUR stuff. How can someone imagine your extra bedroom as an office if there are teddy bears everywhere?
- Put away any personal items.
- Clear away paperwork from tables and desks.
- Take pictures down.
- Put away things like your robe, your razor, and your toothbrush.
And while you’re at it, give it a thorough cleaning. To be blunt, your typical cleaning habits may not be on par with some of the people viewing your home. Now is the time to channel your inner neat freak.
You Aren’t Able to Compete
If you’re considering listing your property in the Twin Cities area, it’s important to have a clear understanding of the local real estate market and your potential competition. This means taking a good look at properties currently for sale in your area, as well as recent sales of comparable homes. By doing your research, you can gain a better understanding of what your neighbors are asking for their homes and what buyers are actually willing to pay.
To gather this information, start by checking out popular listing sites as well as your county appraiser’s office. Pay close attention to the sale prices of homes similar to yours, rather than simply focusing on the asking price. This will give you a more accurate sense of what buyers are willing to pay in your area.
It’s also important to consider the demographics of potential buyers in your area. For example, if there are many families in your neighborhood, consider making your yard more conducive to outdoor play and showcasing any family-friendly features your home may have. On the other hand, if your area is popular among young professionals, consider highlighting an area of your home as a home office or gym.
By taking the time to do your research and catering to the specific needs and preferences of potential buyers in your area, you can increase your chances of selling your property quickly and at the right price.
It Needs Work
Honesty is key here. There are things you might have been overlooking for so long, that now they just seem normal. Get an outside opinion on what repairs should be made. Ask friends for candid opinions. Ask your agent. And consider doing an inspection on your own. Fixing the things in need of repair will improve your selling chances, and lower your potential buyer’s bargaining power over repairs.
People use the internet to buy homes. In our opinion, nothing can destroy a listing faster than bad photography. On the flip side, well done, professional photos can make your listing skyrocket. Don’t settle for an agent who takes a picture of your home from the car. And going back to the above, there should not be ANY clutter in your photos. Seriously. Nothing. Even if you put everything back after the picture is taken… putting some effort into great photos will make or break your listing.
Your Agent isn’t Doing All They Could Be
Some agents will do the bare minimum and cross their fingers for a sale. They might have gotten their license in hopes of making a quick buck. Then there is Matt Buys Houses MN. We are real estate professionals that genuinely want to help people! We believe everyone should love the real estate they own.
It is very difficult to sell a property with liens or other title problems. Maybe your great aunt gave you the property, but it was never properly put in your name. (AKA, transfer without conveyance.) To sell a property in Minnesota do whatever you can to clear this up before you list.