Are you frustrated with your slow home selling situation in Maryland? Do you feel like you’ve done everything right, but still can’t get any offers for your house? Do you wonder what’s holding you back from selling your house fast and for a good price?
If you answered yes to any of these questions, this article is for you. In this article, we’ll reveal common reasons why most houses don’t sell fast in Maryland, and what you can do to fix them.
Whether you want to know the reasons why your house isn’t selling, or you want to know how to fix what’s wrong, this article will help you. You’ll learn the top three reasons why houses sit on the market for too long, and the tips and tricks to remedy them.
By the end of this article, you’ll have a clear idea of what’s preventing you from selling your house fast, and what steps you can take to speed up the process. You’ll also discover how you can request a cash offer from Creo Home Buyers, a company that buys Maryland houses in any condition or situation.
Ready to sell your house fast and for a fair price in Maryland? Then keep reading!
Disclaimer: This blog post is intended for educational purposes only. As every real estate transaction is unique, Creo Home Buyers recommends you consult with a trusted advisor regarding your specific situation.
Common Reasons Why Houses Don’t Sell Fast in Maryland
You’ve put your house in Maryland on the market, hoping to sell it quickly and move on with your life. But weeks or months have passed, and you still haven’t received an acceptable offer.
What’s going on?
There are some common reasons why some house are slow to sell, and some tips and tricks to fix them.
Here are the top three reasons why your house in Maryland might be sitting on the market for too long, and what you can do to speed up the home selling process.
Reason 1: The house is overpriced
One of the most important factors in selling a house is pricing it right. When listing a home, if you price your house too high above market value, you’ll scare away potential buyers who won’t be able to obtain bank approval to buy your overpriced property. And the longer your house sits on the market the fewer buyers will be interested because they’ll assume something must be wrong with the property.
But how do you know what’s the fair market value of your house? There are some ways to determine it, such as:
- Comparing your house to similar homes that have sold recently in your area
- Getting a professional appraisal from a licensed Maryland appraiser
- Asking a Maryland real estate agent for a comparative market analysis (CMA)
Many home sellers in Maryland rely solely on online estimates or their own emotions regarding the value of their property. Unfortunately, online estimates can be inaccurate or outdated, and your emotions can cloud your judgment. You might think your house is worth more than it really is because of sentimental value or personal preferences.
The best way to price your house right is to use objective data and expert advice. And don’t be afraid to lower your price if you’re not getting any offers or showing requests within the first week of listing. According to a study by Zillow, homes that had one price cut sold for 2% less than expected, but homes that had two or more price cuts sold for 5% less than would normally be expected.
Here is a common scenario of a house that sold fast after lowering the price:
- The house was listed for $350,000 in June
- It had no offers or showings for two months
- The seller lowered the price to $325,000 in August
- It received multiple offers and sold for $330,000 in September
Reason 2: The house needs repairs or updates
Another common reason why homeowners find that their houses don’t sell fast in the state of Maryland is that they need too many repairs or updates. Buyers today are looking for move-in ready homes that don’t require much work or money to fix up. They want homes that are clean, modern, and functional.
If your house has any maintenance or repair issues such as a leaking roof, peeling paint, or a moldy basement, consider fixing them before listing your house.
Repairs or updates can boost the appeal and value of your house, and make it stand out from the competition. They can also reduce the time on market and increase the final sale price.
According to a report by HomeLight, the top five home improvements that can help you sell faster and for more money are:
- Decluttering (95% of agents recommend it)
- Cleaning (93% of agents recommend it)
- Painting (89% of agents recommend it)
- Landscaping (83% of agents recommend it)
- Staging (83% of agents recommend it)
Here is a common scenario of a house that sold fast after making some repairs or updates:
- The house was listed for $300,000 in July
- It had some minor issues such as stained carpet, chipped tiles, and outdated fixtures
- The seller spent $10,000 on repairs or updates such as replacing the carpet, tiles, and fixtures
- It received multiple offers and sold for $320,000 in August
Reason 3: The house has poor marketing or exposure
The third common reason why houses don’t sell fast in Maryland is that they have poor marketing or exposure. Marketing and exposure are essential for attracting buyers and generating interest and offers. You need to make sure that your house is seen by as many people as possible, and that it looks good online and offline.
Some of the effective marketing and exposure strategies that you should use are:
- Professional photos and videos that showcase the best features of your house
- Online listings on popular platforms such as Zillow, Trulia, Realtor.com, etc.
- Social media posts and ads that reach your target audience and drive traffic to your listings
- Flyers, signs, and brochures that advertise your house in your neighborhood and community
- Open houses and private showings that allow buyers to see your house in person
But don’t try to do it all by yourself. Marketing and exposure can be time-consuming and complicated. You need to know how to use the right tools and techniques, and how to optimize your listings for search engines and buyers.
That’s why you should hire a professional real estate agent who can help you with marketing and exposure. A real estate agent can take care of all the details, such as:
- Hiring a professional photographer and videographer
- Writing a compelling description and headline for your listings
- Posting your listings on multiple platforms and updating them regularly
- Creating and managing social media campaigns and ads
- Printing and distributing flyers, signs, and brochures
- Scheduling and hosting open houses and private showings
According to a survey by the National Association of Realtors, 89% of home sellers in 2020 used a real estate agent to sell their homes. And the median sale price for homes sold by agents was $295,000, compared to $217,900 for homes sold by owners.
Here is a common scenario of a home that sold quickly after improving its marketing or exposure:
- The house was listed for $250,000 in September
- It had only a few photos and a short description on one online platform
- It had no social media presence or offline advertising
- It had no offers or showings for a month
- The seller hired a real estate agent who improved the marketing or exposure by:
- Taking professional photos and videos
- Writing a detailed description and headline
- Posting the listings on multiple platforms
- Creating and running social media campaigns and ads
- Printing and distributing flyers, signs, and brochures
- Scheduling and hosting open houses and private showings
- It received multiple offers and sold for $270,000 in October
Tips and Tricks to Fix Your Slow Home Selling Situation
Now that you know the common reasons why houses don’t sell fast in Maryland, you might be wondering what you can do to fix your slow home selling situation. Well, here are some tips and tricks for you that can help you sell your house faster and for more money when it’s time to sell.
Tip 1: Hire a professional real estate agent
As mentioned earlier, hiring a professional real estate agent can make a huge difference in selling your house. A local real estate agent in Maryland can help you with pricing, marketing, negotiating, and closing the deal. They can also save you time, money, and stress.
But not all real estate agents are created equal. You need to find and choose a reputable and experienced real estate agent who knows the Maryland market well.
Here are some tips on how to do that:
- Ask for referrals from friends, family, or neighbors who have sold their homes recently
- Check online reviews and ratings on platforms such as Zillow, Yelp, Google, etc.
- Interview at least three agents and ask them about their credentials, track record, marketing plan, communication style, etc.
- Compare their fees, services, contracts, etc. and choose the one that offers the best value for your money
Tip 2: Consider selling your house as-is to a cash buyer
Another tip that can help you sell your house fast is to consider selling it as-is to a cash buyer. Selling your house as-is means that you don’t have to make any repairs or updates before selling it. You can sell it in its current condition, no matter how good or bad it is.
Selling a house in Maryland as-is can have many benefits, such as:
- Saving you time: You don’t have to wait for repairs or updates to be done. You can sell your house in as little as 7 days.
- Saving you money: You don’t have to pay for repairs or updates. You also don’t have to pay any commissions or fees to agents or brokers.
- Saving you hassle: You don’t have to deal with inspections, appraisals, contingencies, or closing costs. You also don’t have to worry about buyers backing out or changing their minds.
Selling your home in MD as-is might be the best option for you if you’re in any of these situations:
- Facing foreclosure: If you’re behind on your mortgage payments, selling your house as-is can help you avoid losing your house and damaging your credit score.
- Going through divorce: If need to sell your house quickly and fairly, selling your house as-is can help you minimize legal disputes and emotional stress.
- Inheriting a property: If you’ve inherited property that you don’t want or need, selling fast as-is can help you avoid paying additional taxes and maintenance costs.
- Dealing with probate: If you’re going through probate, selling your house as-is can help you avoid the lengthy and costly legal process.
- Relocating: If you’re relocating for work or personal reasons and need to sell your house quickly, selling as-is can help you avoid the hassle of finding a buyer and moving out.
- Facing repairs: If you’re facing major repairs that you can’t afford or don’t want to do, selling your house as-is can help you avoid the headache of fixing them.
Tip 3: Request a cash offer from Creo Home Buyers in Maryland
If you’re interested in selling your own house as-is to a cash buyer, I have some good news for you. You can request a cash offer from Creo Home Buyers in Maryland. We are a local company in MD that buys houses in any condition and any situation.
Sell your home in MD fast and for a fair price, regardless of its condition or situation. Here are some of the benefits of working with us:
- We pay cash: We don’t rely on banks or lenders to finance our deals. We have our own funds and can pay you cash for your house.
- We buy as-is: We don’t care about the condition of your house. We buy it as-is, no repairs or updates needed.
- We close fast: We can close the deal in as little as 7 days, or on your preferred timeline.
- We pay closing costs: We don’t charge any commissions or fees. We also pay for closing costs and other expenses.
- We make it easy: We handle all the paperwork and details. All you have to do is sign and get paid.
If you want to sell a home in Maryland fast for a fair price, request a cash offer from Creo Home Buyers today. Just fill out this form or call us at (410) 870-9228 and we’ll get back to you within 24 hours with a no-obligation offer.
Don’t let your house sit on the market for too long. Avoid the hassle and process of selling a house on the open real estate market. Sell it fast and easy with Creo Home Buyers in Maryland. You’ll be glad you did!