When you try to sell your home, especially if it sits on the market for too long, the time works against you. This blog post gives you the information you need to sell quickly, to avoid the dreaded stagnant listing.
When a house sits on the MLS for weeks or months at a time, the odds of it selling decrease exponentially. Virtually, the amount of increasing time will cause your online listings to drop down further in popularity on the lists of available properties; as it continues getting views by more and more people, sitting stagnantly for a period of time, people begin to assume there is something wrong with it. No matter how amazing your home is , a property 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 lowering your price can make you appear desperate, inviting prospective home buyers to feel as if they can offer a low price and you will accept. Read on for some insight about why your house isn’t selling and what you can do about it.
Why It’s Not Selling
Priced Too High
If a home is initially priced too high, people will pass on by. The listing will slowly make it’s way down the list so even if you later drop the price to something more reasonable, you won’t have as many prospective buyers seeing your listing.
Bad Photos or Description
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. For 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. If you know your photos aren’t popping and only look average, or if you’re wondering about it at all, it’s good to consider professional photography. Paying a little upfront will make a big difference in how your listing is received. Also make sure the ad copy is on point. HIghlight positive features and amenities of the house and be sure not to leave anything out.
Dark and Dreary
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. Better light produces a more positive mood. Your prospective home buyers will feel more comfortable in an open space as opposed to a confined and dark area.
Major Repairs Required
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 much cosmetic work, a direct sale might be a more realistic decision.
What A Stagnant Listing Is Costing You
The longer your listing fails to produce favorable results, the more the house ends up costing you. You pay more money into the house for the continued expenses such as utility bills, homeowners insurance, and property taxes. Consider as well, the time and money you will spend getting the home ready for the MLS, sometimes all for naught.
What You Can Do About It
Avoid The MLS Altogether
Many people in Minneapolis and across the country are opting to sell their homes to direct buyers. The process frees them from commissions, repair costs, and uncertainties about closing. At Fast Cash Homes MN, 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.
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.
Set The Price Right From Day One
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 Minneapolis 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 Minneapolis houses!