What To Do When Your House Sits on the Market Too Long: Strategies to Sell
Selling a house can be an emotional and financial rollercoaster. When your property lingers on the market longer than expected, it can be disheartening. However, there are effective strategies you can implement to rejuvenate interest and ultimately secure a sale. Here’s a comprehensive guide on what to do when your house isn’t moving as quickly as you’d hoped.
- Assess the Situation
Evaluate Market Conditions
Are you in a buyer’s market or a seller’s market? Know the average days that a home in your area is sitting on the market. According to Rocket Homes, as of September 2024, the average number of days on the market in Sarasota was 71 days.
Evaluate Pricing
One of the most common reasons a house sits on the market is overpricing. Research comparable homes in your area to see if your price aligns with the current market. If your house is priced above similar properties, consider adjusting your asking price to make it more competitive.
Remember, the market dictates how much your house is worth.
Analyze Feedback
Make sure that your real estate agent is collecting feedback from showings. Constructive criticism can provide insight into what potential buyers dislike about your home. Common issues may include the home’s condition, layout, or even neighborhood factors.
- Improve Curb Appeal
Landscaping and Exterior
First impressions matter. Invest in landscaping to enhance your home’s exterior. Trim overgrown bushes, plant flowers, and keep the lawn well-manicured. Consider a fresh coat of paint for the front door and shutters to make your home inviting.
Declutter and Stage
A cluttered home can turn off buyers. Remove excess furniture and personal items to create a more spacious environment. Professional staging can also make a significant difference, allowing potential buyers to envision themselves living in the space.
- Make Minor Repairs and Updates
Fix What’s Broken
Address any maintenance issues, such as leaky faucets, squeaky doors, or cracked tiles. Minor repairs can significantly improve your home’s appeal.
Consider Updates
If your budget allows, consider making updates to kitchens and bathrooms, which are crucial selling points. Even small updates like new cabinet hardware, fresh paint, or modern lighting can make a big difference.
- Reevaluate Your Marketing Strategy
Enhance Online Listings
Ensure your online listings are appealing. Use high-quality photos and write compelling descriptions that highlight the unique features of your home. Virtual tours can also attract more interest.
Leverage Social Media
Utilize social media platforms to promote your listing. Share engaging posts and consider targeted ads to reach a wider audience.
Host Open Houses
If you haven’t already, hosting an open house can create buzz around your property. Make it a special event with refreshments and marketing materials that highlight your home’s best features.
- Be Flexible with Showings
Accommodate Potential Buyers
The more accessible your home is for showings, the better. Be flexible with your schedule and consider allowing showings at different times, including evenings and weekends, to accommodate potential buyers’ needs.
- Consider Creative Incentives
Offer Buyer Incentives
Attract buyers by offering incentives, such as covering closing costs, offering a home warranty, or including appliances in the sale. These incentives can make your listing more appealing compared to others.
Rent-to-Own Options
Consider offering a rent-to-own arrangement, which can be attractive for buyers who may not have the immediate means to purchase.
- Consult with Professionals
Seek Expert Advice
Sometimes, bringing in a home stager or real estate consultant can provide fresh insights and strategies tailored to your specific situation.
You can also reach out to our experienced team for assistance. Call our office at (941) 376-9551
“Having your house sit on the market for too long can be frustrating, but it doesn’t necessarily mean that you won’t be able to sell your home eventually,” says real estate attorney, Michael Infanti.
“By reassessing your pricing, improving your home’s appeal, updating your marketing strategy, and being open to suggestions, you can create a renewed sense of urgency around your property.
With patience and the right approach, you will be well on your way to closing the sale.”
Need additional resources and help with selling your home? Download our free listing guide HERE
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