After weeks or months of being on the market, you may start asking yourself, why hasn’t my property sold? I’m sure your agent will be giving you every reason under the sun on all the objections of why, but unless they are about the price, marketing and presentation of your property, they are just excuses.
Price, marketing and presentation are the main three reasons why properties take a longer period to sell. If the market firstly thinks your price is too high, then you will experience less to no people coming through your open homes, a serious lack of internet and phone enquiry and a consistency of low offers from multiple buyers, if anyone is offering at all. These are clear indicators that your price may be slightly top heavy and an adjustment is needed to ignite the interest levels in your property.
Even, when you get the price right, how you put it out there will determine on whether you have the right amount of traffic coming through your property. Not only does traffic create competition, which leads to greater prices, it also just increases your chance of selling your property. The old saying ‘you can’t sell a secret’ is as relevant today as it was when it was first said. The investment you put into marketing your property and attracting all buyers from active to passive, will also determine on whether you sell your property and for how much.
In the end, once you’ve got price right and the right marketing plan, it can all fall apart once the prospective buyers get to your property. How your property presents, can determine on whether people with make offers in the first place and how much they will offer. A poorly presented home increases the possibility of objections which can quickly turn someone off a property altogether. Some buyers can’t see past an poorly presented home and will keep searching for their perfect property, while others will use the presentation of the home against your offer and bring a much smaller offer to the table for you to consider. If you take the small effort to present your home like a display home, you will minimise objection, which will in turn create more interest that turns into a competitive buying nature and leads to stellar results.
Simply put, be honest with yourself, invest money in helping people find your biggest asset and take the necessary steps for your property to look its best and you’ll start winning your potential buyers hearts over. By getting these three steps right, you will give yourself the best chance to set the next record in the street.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.