Sellers Want to Know - Why Isn't my House Selling?

There's a lot of time and work that goes into buying and selling real estate but the economics is fairly simple.  Value equals what a buyer is willing to pay and a seller is willing to accept.  Determining the market price is complex.  Taking time to become educated on the local market and enlisting the services of a professional agent can help you get closer to that magical sales price.  However, if a seller goes with what they "feel" their house is worth, they could potentially be making a big mistake.  An even bigger mistake for sellers is choosing a real estate agent solely on the basis that the agent claims she/he can sell your house for more money than other agents think.

What a seller wants to net from the sell of a home means absolutely nothing to buyers or the marketplace.

Most sellers think their house is the best in the neighborhood, but honestly, a sellers opinion doesn't carry any weight with a potential buyer.  Only the buyer's opinion matters in the end.  It just doesn't matter if a seller's neighbor sold for x amount last year and you want x amount more because you think your house is better.  It just doesn't matter, so don't fall into this trap; it could cost you more in the long run resulting in your home sitting on the market.  Ask yourself, what were the market conditions at the time your neighbor sold compared to what they are at the time you are putting your home on the market.  Did the market drop or go up?  Keep emotional feelings and ego in check.

If you think that you will price higher than the market, because you believe someone will come along who just has to have your home, well, the chances of that in a down market bloated with inventory are slim to none.  Buyers will think your price is unrealistic and so you probably are too and will be reluctant to deal with you.  Your home lingers on the market and then buyers think there's something wrong with it.

Price is not always the reason your home isn't selling but it's always related to the reason(s) your home isn't selling.  Buyer's perception is real and if they perceive imperfections in your home, they want a discount.  A buyer has to believe that your price at least equals the value they see.  If there are maintenance issues, a buyer will automatically discount the price. Sellers tend to attach a much lower discount to the price than buyers.

Beyond your Control
The seller is not always to blame when a house doesn't sell.  Maybe the market keeps changing or a developer is offering lower prices on brand new homes with incentives. Maybe banks are discounting distressed properties at a rate private seller's find impossible to compete with.  And maybe an agent has given you bad advice.  

A seller must take all of these reasons into consideration when establishing an effective marketing strategy designed to succeed in getting your home sold.