How Much Money Do You Lose from a Stagnant Listing?
Having a house listing on the MLS is no guarantee that it’ll sell, let alone for the price that you want.
For the first few weeks, it’s not unusual for your house to receive a lot of offers and visits. But, as times goes by, and the weeks turn to months, you’ll notice the number of qualified buyers going down significantly. Most of the time, this is because, majority of them have already seen how long your house has been listed and will most likely assume that there’s something wrong as to why it hasn’t been sold just yet.
It’s not like you can just drop your asking price, either.
Continually decreasing the price of your New Jersey property that’s up for sale can make you seem desperate, and before you know, you’ll find yourself settling for a selling price that’s significantly lower than you expected.
That’s why it’s important to make sure that, not only your house is listed, but that it’s not listed for a long time.
Why Is a Listed House Not Selling? How Can You Make It Sell?
There are multiple reasons as to why a house that’s been listed on the MLS is not selling.
- High asking price
- Bad photos or description
- Decor is too personal
- The house looks uninviting
- Unresponsive seller
- Too many repairs or renovations required
And the lies goes on and on.
As already mentioned earlier, just because your house is listed, doesn’t mean that it’s going to sell. You’ll have to wait for weeks if not months to find the right buyer, and even then, that doesn’t mean that you’ll be able to close the deal just yet.
Until both parties have signed on the dotted line, the house is considered to still be up for sale.
So, “how do I sell my house?”, you ask. After all, waiting for a listed New Jersey house to be sold can be quite tiring. Plus, you’ve got bills to buy as well, and you may need to move away soon.
In such cases, you’re better off working with a cash buyer or a real estate investor.
Direct buyers work on a cash-to-cash basis and will buy houses as is. If you’ve read ads about people who say that, “We buy houses NJ in less than a month as-is”, then that’s what cash buyers are all about.
They’ll buy your property outright without asking for commissions and repair costs. Not to mention, in case you get curious, there no obligation. You simply have to call them and let them know the details of your property. So, at most, you’ll get a fair value offer for how much they’ll be willing to pay for your property, and if it’s too low for what you’re asking for, you can get back to either continue listing your house or making a couple of changes before relisting the property to help make it sell better and faster the next time around.
Remember, selling a house is much easier said than done.
If you’d rather avoid the costs of listing your house and watching its value go way down than expected, you’re better off selling your New Jersey property to a direct seller.