Ready to sell your New Orleans home? There are times when we list someone’s home for sale that it sits on the market longer than others. Home sellers then call us to ask, “Why isn’t my house selling?” There are other times it happens and we have no explanation. But, the vast majority of the time – we know why.
Most of the time your New Orleans house isn’t being shown or getting any offers is due to some specific reasons. Take a look below for the most common problems to why your house isn’t selling:
#1. The price is too high.
This is almost always the reason that your house isn’t getting any showings. Unless you’re in a buyers market and it takes houses much longer to sell (ask your agent what are the average days on market for your neighborhood), then your house should have showing requests.
If you’re getting showings and no offers, consider dropping the price. Even if you think it is priced well, the market is telling you that it isn’t.
If you’re not getting any showings or a very limited amount, it’s likely the house is priced too high.
Talk with your top New Orleans real estate agent about what to do to entice more buyers through the door.
#2. The location isn’t great.
Are you located next to the highway? Are you positioned on an extremely busy street? Is your neighborhood not walkable? Is the flood insurance extremely high where you live?
There are all kinds of reasons that your location may not be the best. This doesn’t mean that your house won’t sell. But, you will have to factor this location issue in.
Is your house in need of major updates and repairs? Buyers factor in these renovation costs. And while they don’t expect you to upgrade the whole home, you have to price to house according to the condition.
Just because Sally down the street got X amount of dollars for her house doesn’t mean yours is worth more. Homes with older roofs, HVAC units, and in need of modernizing always sell for less than the neighbor’s house that is updated.
If you updated in 2009, it’s not considered updated to today’s standard. We aren’t asking you to give your house away – we just want you to be mindful of it when we list your home for sale.
If you hired a New Orleans real estate agent who only took cell phone photos and listed it on the MLS and calls that marketing – fire them immediately. Team Be New Orleans doesn’t care if your house is $100k or over a million dollars, professional photographs are ALWAYS necessary.
Some houses need a unique marketing plan and require more than just photos. Talk to us about the plan for your house.
What if the marketing is great, location is desirable, and the condition is superb?
Drop the price.
Here’s the situation:
Buyers don’t want to insult you with a low offer. (Well, not all buyers…) We need you to quit saying “I am open to all offers!” and just price the house according to what the market is telling you. Numerous price drops don’t bode well for a house and typically your first offer is the best offer.
Once your house has been on the market longer than all the surrounding competition, it’s a red flag that your house is overpriced.
How to avoid numerous price drops and lingering on the market:
Listen to your New Orleans real estate agent and price it right the first time, fix the little things that have been annoying you for years and consider staging your home. Staged homes statistically sell faster and for more money.
Ready to list your New Orleans home for sale? Schedule a meeting!