Nashville is still A HOT real estate market. So hot, I recently spoke to two agents who expressed concern over their listings. One was on the market for 10 days and one had only been on the market for 3. Now, I told them and I will tell you.. 3 to 10 days is still normal 🙂 Now that being said, there are still some homes that continue to sit on the market for extended periods… And in a hot market you can avoid that.. So I decided to write out a list of reasons why homes don’t sell. Now, this information below is NOT for the listing that has been sitting for 3-10 days or for multi-million dollar homes, but if your home is not selling and has been on the market 2 plus weeks and hasn’t received an offer AND isn’t getting showings it is time to start wondering why.
WHY IS MY HOME NOT SELLING?!
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REASONS YOUR HOME IS NOT SELLING IN THE NASHVILLE MARKET
- Listed too high – The number one reason homes sit on the market is it is listed TOO high. First ask yourself (and your agent), how did you come up with this number? For my clients, I do an extensive Comparative Market Analysis where we look at similar properties nearby to see what they sold for and the competing properties. Be honest with yourself – do you really think your 3 bedroom house is going to sell for the same amount as the 4 bedroom house down the street with a larger lot? Now, sometimes I hear push back of well lets list it high and see what offers we get. Well that is great in theory but when searching for homes, people input budgets into the searches. So let’s say you priced your home at $420k – although it should be more like $380k… someone (who may be the best buyer) with a budget of 400k may NEVER see that property. Similarly, in this market, if you price the home right it can lead to multiple offers thus driving up the price and sometimes with more concessions. Letting your property sit at a higher price point – does nothing but decrease your chances of getting the most money. List it right the first time.
- Not listening to feedback – We ask every agent who comes in our clients home for feedback regarding the property – you can use this feedback to sell the home. Obviously, the home won’t be right for everyone BUT if we hear something multiple times.. “like the paint color was distracting” or the “the home smelled like pets” “the home was cluttered – we couldn’t even go in the basement” – we can work to correct these items. However, if you hear this feedback and disregard it, you may be looking at a sitting listing or a price reduction in your near future.
- Showings (Not allowing/being present at) – You need to be flexible when it comes to showings. If you only allow showings for 2 hours a week – people are not going to be able to see your home. If people can’t see your home – you are already putting yourself at a disadvantage. I tell all my clients to try and accept EVERY showing. Similarly, please LEAVE your home for showings. Showings with sellers present are almost always super awkward and cut short. The goal of a showing is to make the buyer feel at home – and you don’t want a seller hovering during that time.
- Not being marketed properly/pictures – Before listing your home, make sure you know exactly how your agent plans on marketing it. They should be able to provide you with a full blown marketing plan. Similarly, if they are not bringing in a professional photographer – you may want to call us. 615.310.8661 – If you have time scroll homes for sale – you will know what I am talking about. Professional photographs are a must and get people in the door and get homes sold.
- Unpleasant smell – Honestly this is something that is hard to overcome. Many times a buyer can love everything about a home but an unpleasant smell can kill the deal. During our consults, we help our sellers by being honest about pet, smoke, and other odors. This is something you will want to rectify before listing the home. Don’t list your home will carpets filled with cat urine – just don’t do it.
And as always, if you need help listing and more importantly selling your home – give us a call or text us at 615.310.8661 and lisa@nashvilleonthemarket.com.
xoxo,
Lisa Stigliano
Greater Nashville Real Estate Agent
Co-Owner Nashville on the Market Group
