Has your home been on the market for a long time?
Feb 21, 2007
Author: Family Realty LLC

Has your yard started to overtake the “For Sale” sign? When you listed your house, a Democrat was in the White House. Did you just get an invitation to your real estate agent’s retirement party? Hmm. Maybe your house is taking a little too long to sell.

So, what’s taking so long? Here’s a few reasons why you property may not be moving.

Your home is just overpriced…

The truth is that Buyers, not Sellers, determine the market value of a home. You might think your home is far more valuable than comparable properties nearby, but if there’s no buyer willing to pay that price… then it’s not worth that price.


Overpricing is probably the most common reason a house is slow to sell. A home priced right in a normal market will move in a reasonable amount of time. And if your house remains on the market too long, then it buyers may begin to suspect there are other problems with the home that they did not detect. Eventually, other agents will just slow down or stop showing the house.


Your home doesn't 'show' well…


Your home is competing against shiny new houses in the hot new subdivisions or quaint little lake front homes in new developments with incentives and community amenities. Even a great older home may need a little makeover to compete.


Usually, most of the work is just cosmetic (including a thorough cleaning). A good agent can probably give some advise on where your time and money are best spent.


You're in a bad location …


Location rules in real estate. When your house is in a bad location, your options are limited. A good agent may be able to move the sell along by accentuating the home’s positive points. But the best way to compensate for a bad location is to reduce your asking price.

You have a lousy listing agent…

Oh, there are bad agents out there, and their bad advice can cost you money and time. It may difficult sometimes to detect a bad agent, but there are some warning signs you can look for. If your agent keeps you in the dark during the whole process, be warned. A very sure sign is if the agent is unresponsive to other agents wanting to show your home (if they sell their own listing, they don’t have to split the commission). If your agent is not friendly, helpful and easy to work with, then prospective buyers may not want to deal with them… and thus not buy your home.


You are battling competition or market conditions…
We've all heard the terms "buyer's market" and "seller's market." In real estate, market conditions are affected by any number of external forces, some of them predictable (the weather, sort of), some of them unpredictable (the local economy, interest rates, public optimism or pessimism).

If you're trying to sell in a flat market, you're not only competing against all that vacant new construction, but against rentals as well. In this case, be prepared to settle for less than top dollar, or wait to sell until the pendulum swings once again in your favor.

You have ineffective marketing…

Today's top performers launch a multilevel marketing plan that includes aggressive newspaper advertising, open houses, listings in real estate publications and staying very visible in the community.

According to the National Association of Realtors, today more than one-third of all home buyers use the Internet for house hunting. Suffice it to say that if your real estate agent isn't listing your home online through their Web site as well as with the local Multiple Listing Service, you are probably not be getting the exposure necessary to find a buyer.