When trying to sell your home, a house that sits on the market for too long will only end up working against you. In our latest post, we will help you learn how to sell quickly, avoiding a dreaded stagnant listing.
When a house sits on the MLS for weeks or months at a time, the odds of it selling decrease astronomically. It will drop down the list of available properties, getting viewed by more and more people. When it sits stagnantly for a period of time, people will begin to assume there is something wrong with it. Even if it is in great shape, properties that stay on the MLS for a long time often become overlooked. On the MLS and listing sites such as Zillow, 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.
If your home has been sitting on the market without any serious offers, you’re losing money every day. Here’s why your house may not be selling and what it’s costing you.
Why It’s Not Selling
Priced Too High
If a home is priced too high initially, people will pass on by. The listing will slowly make it’s way down the list so even if you drop the price to something more reasonable, you won’t have as many prospective buyers seeing the listing. Overpricing is a common mistake that scares away potential buyers. A competitive price is key to attracting offers.
Bad Photos or Description
Poor-quality listing photos or vague descriptions can make buyers scroll past your home. Any aspect of a bad listing or advertisement will make people look the other way. Quite often, you will see a listing with bad or limited photos. 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 opt to bring in a professional when needed. Paying a little upfront will make a big difference in how your listing is received. You should also make sure the ad copy is on point. Highlight the positive features and amenities of the house, being sure not to leave anything out.
Dark and Dreary
Homes that lack natural light or have outdated decor may not appeal to buyers. 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
If your home needs significant repairs, buyers may be hesitant to make an offer. Many lenders won’t grant loans for people to buy properties in need of major repairs. If your property is run-down or needs a good amount of cosmetic 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 idly, the more the house ends up costing you. You will be sinking money into the house for 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 MLS, sometimes all for naught.
- Mortgage Payments – The longer it takes to sell, the more mortgage payments you’ll have to make.
- Property Taxes & Utilities – Even if your home is vacant, you still have to cover property taxes, electricity, and water bills.
- Maintenance Costs – Routine upkeep, landscaping, and potential repairs add up over time.
- Lost Time & Stress – A prolonged sale can be emotionally and financially draining.
What You Can Do About It
Avoid The MLS Altogether
Many people in Florida and across the country are opting 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 Cash Home Buyer Florida, we are a team of direct buyers who can make an offer on your house almost immediately. 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. Listing on the MLS isn’t your only option. Selling directly to a cash buyer eliminates delays and uncertainty.
Upgraded Marketing
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. If you’re committed to selling traditionally, invest in professional photography, virtual tours, and compelling descriptions.
Set The Price Right From Day One
Avoid overpricing. A competitive price attracts more buyers and leads to quicker offers. 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 in as little time as possible.
Do you have a house you want to sell in the Florida 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 Florida houses!
If your home isn’t selling, it may be time to consider a direct sale. At Cash Home Buyer Florida, we make fair, fast offers and eliminate the hassle of a stagnant listing. Contact us today to sell your home quickly and move on with peace of mind!