Why Some Homes Do Not Sell

Have you noticed some homes do not sell? I know of many homes that were on the market for years, and they never sold. Eventually the owners let the third or fourth listing expire and did not renew. No one ever talks about this, so that means we have to talk about it here. Don’t all homes eventually sell? No, they do not.

Some Homes Do Not Sell

I knew one home that was built in the ’60’s, and it was still vintage ’60’s. But of course, it was outdated and dark inside because the architecture back then tended to be dark with small windows. The roof needed replacing, the siding was sad, and the entire house needed upgrading inside. But that’s not the only reason it didn’t sell. At the right price, someone will buy anything, right? But this one was overpriced by about $150,000. It was an estate sale, and it appeared the adult children were holding out for big bucks. They never received the big bucks. It was on the market for years and never sold. This is why some homes do not sell.

Another house had three levels, an odd floor plan, and a kitchen and master bathroom that desperately screamed for a complete upgrade. The house boasted a water view in its advertisements, but buyers are pretty smart these days. They could see that the lot between the house and the water view was buildable, and when a house went up on that lot, it would totally block the water view that existed temporarily. This house was also cursed with an unrealistic listing price. It never sold. This is another example of why some homes do not sell.

There are some houses that do not suffer from either of these marketing diseases, yet they do not sell either. Granted, the percentage of houses that appear to be cursed is a very small percentage of the inventory, so these homes do not stand out, unless you are in the business like me. Then you do not forget them. The failure to sell these homes in this third category defies a good explanation. There are a few obvious features that the majority of buyers do not want, and price is almost always a factor, but even then, it is sometimes a mystery as to why a small number of homes do not sell. My theory is that it is a host of small items that all add up to the point of simply turning off buyers. It’s not always one thing that turns buyers away–it’s a host of things that are not ideal for each buyer, and that list is different from buyer to buyer.

Some of the things that turn buyers away are subjective and decided on an emotional level, sometimes even a subconscious level. You cannot measure these variables in advertising, but I can tell you they exist for buyers.