6 Options to Consider if your House does not Sell
You want to sell that house and get it over with, but, no one seems to be interested in it. There could be many factors contributing to your house not selling. So, what are some of the remedies to this situation?
Emomeri Maryanne
Examine the Market
Sometimes, the issue is not your house, it could be that the market is not promising at that moment. It could be the economy is bad or there is saturation in the market for that kind of house. You can do a real estate analysis and determine which houses are in demand, analyze what qualities are in demand and see if you can make adjustments and sell the house. Through the analysis, you will get to know the factors that influence your home value.
- Consider Reducing the Price
If the market is doing great, then you need to consider lowering the price of your house. If the house is in a good location and it has appreciated in value over time, you won’t feel the pinch if you reduce the price a bit. But it is good if you first know the value of your house so you don’t sell it at a lower price.
- Rent
If it’s proving really hard to sell the house, you can rent it instead. This is a good option for people who have to relocate abruptly and may have no time selling the house. Selling a house is a major decision and rushing to sell, may not be a good idea. Renting it out allows you time to come to a reasonable decision, and if you still want to sell, you can look for a buyer while you earn from your house.
- Evaluate your Real Estate Agent's Performance
Your real estate agent may be sleeping on the job, or he may have other clients who are keeping him busy. Before you even embark on selling the house, you need to find a suitable real estate agent. Even though most people take the DIY approach when getting into such a business, a good agent will make your house sell much faster. So if you feel it’s taking too long, it’s time to talk to the agent and see where the problem is, if there’s no solution, you have to get a new real estate agent.
- Consider the Rent-to-own Option
Although this option will delay you from getting all the money at once, it can be a nice option if you know everything about it. With this, the buyer pays a certain agreed amount for the deposit and then the remaining installments are paid overtime. This can take up to three years for the buyer to completely own the house.
- Work on its Appearance
It’s usually said that “don’t judge a book by its cover,” in real estate, it’s not good advice. People will judge and rate your house by its appearance. You need to have it painted afresh if you haven’t done so for a while, fix broken windows, or get new ones, prune the flowers or consider these home staging tips.
- Change your Marketing tactics
Putting a “For Sale” banner or poster in front of your house is just not enough. Your marketing needs to be aggressive enough to convince the potential buyer. For online marketing, you need to get a professional photographer to take the pictures. Professional photographers take in all the components of real estate photography and bring out the best of your house. You need to write the best description, which states how the house is and what it contains. Getting it right with social media could make you sell the house faster than anticipated.
You also have to list your house in trusted real estate or property websites.
