What is the most common reason a property fails to sell?
The most common reason a property fails to sell is an unreasonable asking price by the seller. An asking price that's too high is the surest way to increase your days on market and have a "non-starter" listing that buyers simply ignore.
That's why it's so important to price your listing based on an objective review of your property and local market data:
- what is the condition of your property?
- what are similar homes selling for? (see comps)
With this additional perspective, you can make an informed and confident decision to price your listing at a point that will get as many qualified buyers as possible to take the next step in the transaction process: schedule a tour or submit an offer.
Pricing your listings is an art and a science, and when done correctly you attract enough interest to generate multiple competitive offers -- in many cases above your asking price! When you list your property on our marketplace with our Get Offers service, we provide you with the research and data to make a smart pricing decision.
Here's a short list of common reasons a property fails to sell:
- unreasonable asking price by the seller
- major structural issue(s) dramatically reduce your pool of buyers
- area with low demand (i.e. rural or otherwise undesirable)
- unique property with limited pool of buyers
Our friends at Ownerly put together a helpful article, My House Won't Sell: 10 Reasons Why, which we recommend giving a read.
We're committed to empowering everyone to buy and sell real estate without agents or commissions. If you have any other questions, message us!