Why Am I Not Getting Offers on My House?

If your home isn’t getting offers, or if the offers fall far short of your expectations, it’s time to talk options with your agent. It’s crucial to quickly figure out the 'why' so you know how to respond.

Speed is of the essence, because the longer a home is on the market, the more likely it is that buyers will suspect there's something wrong. How long is too long? That depends on your market and your home. If comparable places are selling within a few weeks, but your home isn’t generating much buzz, schedule a serious chat with your agent.

Here a few things to consider that might kick-start interest and offers.

Price and marketing

To make sure your price is still right, go through the CMA your agent prepared. Has something major shifted in your market? Did either of you miss something about your home or your location?

Also, factor in any feedback buyers give at your open houses. If they’re obviously turned off by something, you can address it. If you didn’t clean, declutter and stage your home, buyers have trouble picturing themselves living there.

Take a close look at your listing photos and description on Zillow. If the photos are poorly lit or shot, or you have only a few images, buyers might feel the home isn’t inviting. Consider having a professional photographer take new pictures and record a video walkthrough to let buyers see how the floor plan flows together.

Does your listing description do your home justice? Does it highlight the best features of your home? If not, ask your agent to rewrite it for you.

Consider updates

Is your home making a good first impression? Does it send the message that it was cared for and is move-in ready? If not, get out the cleaning and painting supplies, or consider hiring some professionals. Unless you’re selling a fixer-upper, buyers are drawn to a fresh coat of paint inside and out, clean carpets, shiny hardwood floors, and kitchens and bathrooms in good working order.

You and your agent may have decided it wasn’t worth updating appliances, light fixtures or other elements. While they may be small things in the grand scheme of things, they make an impression on buyers. Talk with your agent about whether a small investment in updates might pay off in increased buyer interest.

You might even consider taking the home off the market for a few months to fix and update the home as needed and then put it back on the market once the work has been completed.

Add financial incentives

Buyers are motivated by many things (stainless steel appliances come to mind), but foremost is saving money. Here are a few ideas you could consider:

Pay points: Offer to 'buy down the rate' of the buyer’s interest rate. Banks offer buyers an interest rate based on the market at the time they apply. If they want an even lower rate, they can pay an upfront fee, called a point. Paying upfront is called “buying down the rate,” and you can offer to do it for the buyer.

Pay bonus commission: A listing agent often markets homes to other agents to encourage them to show the properties to their buyers. You can offer a bonus commission — a 0.5 or 1% commission — to the buyers agent to bring awareness to an aging listing.

Credit for 'close by' date: If you’ve already found your next home or need a quick closing for any reason, you could offer a small bonus or credit for meeting a specific closing date. It might appeal to a buyer who’s also motivated to complete a quick transaction.

Make sure you and your agent are on the same page

If you and your agent can’t seem to agree on how to move forward, perhaps it’s time to look for a new professional partner when your listing agreement expires.