3 Reasons why your home isn't selling

There are many reasons why a house does not sell easily for each property, but they can basically be divided into "property," "price," and "timing."
Since the causes of each are often intertwined, the first step is to confirm which reason your case falls under.

Reason #1: Less attractive than surrounding properties.

The fact that the house you currently own is not selling may be attributed to the fact that it may have less attractive features compared to other properties.
When those who are considering purchasing compare properties, they largely consider "location/environment" and "land/building."
Location and environment are the basic specifications of a property that are basically beyond your control, such as the area where the building is located, the surrounding environment, distance from the nearest station, the zoning of the land, and building conditions.
Land and building are the size of the land and building, structure and layout, age of the building, and facilities and interior design tastes.
Except for rebuilding, the size, age, and structure cannot be changed, but the floor plan and interior design can be modified depending on the situation.

Reason #2: The price is set too high

If there are no inquiries or applicants to view the property itself, the price you have set may be too high.
It will be necessary to reconsider the price while looking at the market rate.
As a seller, you may want to sell at a high price, but if you are missing the right time to sell because of this, you are missing a precious opportunity.
On the other hand, if there are inquiries and people who wish to view the property but no contracts are signed, it is possible that the selling price is not balanced with the attractiveness of the location, surrounding environment, land, building, floor plan, interior, etc.

Reason #3: Bad Timing

In a nutshell, "timing" has several factors.
The most significant timing is real estate market conditions.
Real estate prices are closely related to the economy.
The economy always ebbs and flows, and it can be difficult to perfectly match the timing you wish to sell with, as luck also plays a role.
The second factor is seasonal timing.
The home buying and selling market is not as pronounced as the rental market, but there is still a lot of activity around January through March in preparation for the April move-in (for Japan).
If you can control the timing of when you sell, one way to do so is to take advantage of this kind of timing.

What to do when your home isn't selling

So what measures should you take if your house is not selling?
The measures to be taken to sell a house vary from case to case.
If there are few viewings, review the timing and conditions of the sale.
If there are viewings, but the house is not under contract, you need to devise ways to improve its impact.

Measure #1: Conduct an inspection

One of the measures to take when a house does not sell is to conduct an "inspection," which means a home inspection or building condition survey.
In an inspection, a specialist visually inspects and measures the main parts of the structure and the parts that prevent rainwater infiltration.
In addition to inspecting the current condition of the property, only an architect can provide advice on areas that need to be repaired and when, as well as cost advice.
This not only allows the seller and buyer to determine whether the selling price is appropriate, but also has the advantage of allowing the seller and buyer to conduct transactions with peace of mind and preventing problems after the sale.

Measure #2: Sell the house with Housing Defect Warranty Liability Insurance included

When you sell your house, you are liable for contractual nonconformity.
If you purchase "Housing Defect Warranty Liability Insurance" at the time of sale, you will not have to pay repair costs and other expenses within the scope of the insurance.
Although an inspection by a specialized agency is required to join the insurance, the contractual nonconformity liability can appeal to the buyer for peace of mind because the buyer has the right to make a claim for five years after learning of the defects.

Measure #3: Do a thorough housecleaning

Property viewing is the act of showing the inside of a house to prospective buyers.
Therefore, if the kitchen, bathrooms, toilets, and other water features are dirty, the impression will be bad, and this will lead to difficulty in selling.
Therefore, it is necessary to use house cleaning services to clean up even just the water areas.
Many of you may have already done so, but if you have not, it would be a good idea to implement house cleaning even if just for the water related areas.

Measure #4: Sell at a different time of year

If you have the time, we recommend putting the house on the market around January to March, when there is more activity in the market.
During the new fiscal year and school term, many people move to places that are easier to commute to work or school due to employment, transfers, or children entering or transferring to new schools, so many people tend to buy houses from January to March in preparation for moving in April.

Things NOT to do when your home isn't selling

When a house does not sell, it is understandable that you will get anxious. But there are some things and behaviours that you should avoid if possible.
Here is an explanation of actions to avoid when a house does not sell.

Things NOT to do #1: Leave the property unoccupied and neglected

If you are still living in your home and it doesn’t sell, you may be tempted to move out and leave it vacant.
However, if the house is left vacant because it cannot be sold, the tatami mats may deteriorate or the flooring may corrode.
When a typhoon or other disaster occurs, the house may collapse, and the possibility of damage to the neighborhood cannot be dismissed.
In addition, if left without maintenance, the earthquake resistance of the house will deteriorate.
If the house is still occupied, it is easier to give property viewers a concrete image of living in the house, and the house is less likely to be damaged.

Things NOT to do #2: Do a full renovation or remodel

Although sellers may think that one way to sell a property may be to do a full remodel or renovation, it is not recommended because it requires a large amount of money.
Even if full remodeling does manage to increase the property value, it is risky because it is difficult to add all the remodeling costs to the sale price.
Also, you should not fully remodel from the beginning because it may not be to the liking of prospective buyers and they may remodel the house to their liking after purchase anyway.

Things NOT to do #3: Demolish the house

This is limited to houses, not condominiums, but we do not recommend tearing down the house and leaving just the land.
This is because special measures for property tax are provided for land with a house, but if the land is cleared, the special measures will no longer be available and you may wind up paying more in taxes.
In addition, it is advisable not to clear the land just because the house cannot be sold because of the construction costs involved in clearing the land.

In conclusion

One reason why a property may not sell is influenced by the features of the house itself as well as the timing of the sale.
If the property remains unsold, the property value will continue to decline, and maintenance and taxes will still need to be paid.
However, it is not advisable to leave the house vacant or to fully renovate it.
If the house does not sell, you can change the price or timing of the sale, or conduct an inspection before putting the house on the market, and you can expect a quicker sale.
Practice the measures described in this article to successfully sell your home!