Are you having trouble selling your home on the MLS in Tulsa, OK? There could be many reasons why that is the case. Perhaps you have an older property with lots of needed repairs. Maybe your home has chipped paint, overgrown vegetation, and other unsightly features. These are all things that could cause a home not to sell amongst traditional buyers. But even if your home looks attractive, there might be too much competition in the marketplace for it to stand out.
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Let’s explore all the possible reasons why your home won’t sell in Tulsa, OK.
1) Listing Price is Too High
Tulsa real estate agents have a habit of encouraging sellers to set higher prices on their listings. Sometimes these prices are much higher than the market values of the homes. As a result, the homes stay on the market for months because they are too overpriced. Sellers end up incurring holding costs in the meantime.
If you want to increase the chances of selling your property, you must reduce the listing price to make it stand out more. However, it is not always a good idea to reduce the price of an active listing because it sends a bad signal to other buyers and their agents. They will assume the home has problems because no one wanted to buy it for the previous price.
The best thing you can do in this situation is usually to remove your listing from the market. But then, you would have wasted all that time, money and effort on a listing that was never going to be successful.
When there are too many listings on the market in Oklahoma, it will be difficult to make your home stand out amongst the rest. It will require you to spend extra money on marketing your property so that more people can take notice of it. Not only that, but you’ll have to spend extra money cleaning and staging your property to really make it shine. If you don’t have the cash to invest in these aesthetic improvements, then it will be virtually impossible to get ahead of the competition.
3) Repairs Needed
Traditional home buyers are not usually looking to buy a fixer-upper house. They want a home to move into for themselves and their families. They have no plans to buy a home and fix it up first. Therefore, you will have no choice but to make the repairs yourself if you want to sell your home on the market. Otherwise, you must contact a professional home buyer and sell your home to them directly. Professional home buyers don’t care whether a home needs to be repaired or not. They will purchase a home regardless of its condition.
Do you have tenants living in your Tulsa home? It is extremely difficult to sell a home that is currently preoccupied with tenants. You may not have the ability to show your property to buyers if tenants live in the home presently. And even if the tenants agree to let your potential buyers look at the property, the home won’t be cleaned up. It just makes property viewings a nightmare all around. You’d have to wait for the tenants’ lease to expire so that you can kick them out before listing the property for sale.
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5) Bad Neighbors
You have very little control over the neighbors living next to your home. If you have unruly neighbors who make a lot of noise or say bad things, a potential buyer might get turned off from your home. There is no telling when these unfortunate incidents with your neighbors will occur either.
Just imagine yourself in a buyer’s position. Would you want to deal with the neighbors around your home if you were the buyer? If the answer is “no,” then it won’t be a good idea to list your home on the MLS because no traditional buyer will want to touch your home. Only a professional buyer can be persuaded to buy it.
6) Too Much Time Listed
When your home is listed on the MLS for extended time periods, buyers and their agents will start to lose interest. If a home cannot sell after a couple of months, it likely won’t sell at all. Buyers want to find in-demand homes which are attractive to a lot of people. They don’t want to settle for some unwanted home that cannot be sold.
If you’ve already tried selling your home with a realtor, then it may be time to try a different route. Just wait until the listing agreement expires so that you can try selling your home to a professional buyer without a realtor being involved at all. Then you can avoid commission fees and closing costs. Contact We Buy Houses in Oklahoma for more information about how a professional buyer can save you both time and money on the sale of your home.
Now you know all the possible reasons why your Tulsa home is not selling. You might find your home attractive, but it doesn’t mean an MLS listing is suitable for it. There are never any guarantees with the MLS. Many sellers end up waiting months for buyers to contact them simply because they house needs so much love that not many people are willing to take on the project besides an investor.
Time is of the essence. Sell your Tulsa home to us and receive a fair cash offer on it. There are no closing costs, repair expenses, commission fees or closing costs. We cover all of these expenses for you.
This website does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact an attorney directly.