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Why Do Some Properties Stay on The Market for A Long Time?

Let’s look at reasons why some Properties that have been Listed Fail to get any buyers

Price is Too High

Let’s get straight to the biggest issue: In almost every case, the reason your property isn’t getting showings is because it’s priced too high.

Again, the lack of interest has nothing to do with your property. It has to do with the price of the home compared to similar properties within your market.

Every property should sell at the right price, and if it’s the wrong price, then it will just sit on the market forever. Buyers most likely were excited when the property was put on the market, and after seeing the property, decided to buy something that was a better value. Luckily, a property seller with a property on the market for a longer time may be willing to negotiate more on the final price of a home.

Solution: With Carlton Realtors as your agent, we shall review the local market stats, check out comparable properties in the area with you.

You Chose the Wrong Agent

Property Owners/Sellers choose real estate agents for a variety of reasons, from referrals, memorable marketing or the simple connection felt during the first meeting.

There’s nothing wrong with those reasons, and it’s important to know and trust someone you’ll be working so closely with.

However, try to stay away from family friends or a friend of a friend who just received their real estate license. It can be difficult and sometimes heart-wrenching to turn down a friend or family member’s services, but selling a home is a huge financial decision and can be a source of great income for whatever comes next.

Solution: Do your homework and choose the most competent Real Estate Agents.

Stubborn Seller

Along with this high listing price, the property owner/seller may be stubbornly refusing to lower the listing price.

Solution: Sellers/property owners should be willing to negotiate their prices in order to get their properties off the market.

Hard to Show

Sometimes the property just doesn’t show well. The property owner/seller may need professional designer or staging help. Other property owner/sellers need to open their schedules to let potential buyers view the property. If a property is sitting on the market for months, the seller/property owner may have a hard time getting the property ready to show or making sure their schedule is clear.

Solution: If the seller/ property owner wants the property to sell fast, they should leave the property and let potential buyers come through the property.

Property Market/Economy may be Bad

A long time on the market may have nothing to do with the house itself “it may just be the poor economy or property market.

Solution: Consult with your Real estate agents on how the current Market is and let them advise you on the best time to sell your property

The Home is in Bad Condition

If worse comes to worse, the home may actually be in bad condition. Sometimes sellers/ property owners want to offer buyers credit for repairs that they don’t want to do themselves. This usually keeps buyers away from the property. The best way to see if the property is in bad condition is to make an offer and then inspect the property.

If you’re worried about why a property is on the market still, ask your real estate agent. They will be able to tell you what’s going on with the property.

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