You’ve done all the right things, but your property for sale is just not selling. Here’s what to do next.
Your conundrum
You’ve done it: your property for sale has been on the market for far too long, and you’ve had enough, waiting around for the perfect buyer. You’ve done everything you possibly can to sell your property, but the sale seems elusive, and you’re at the end of your tether. Before you do something drastic, assess and analyse some of the factors that could be preventing your property for sale from selling.
Your advertising
Utilising online advertising for your property is an essential, but doing it properly is equally important. Marketing your property the right way online is not too difficult to do, but being strategic and sensible in your approach is vital. You’ll need to:
- Choose the right channels for advertising your property online: If you find very traction from one channel, move on to another one.
- Include the right information: Comprehensive descriptions, and full information relating to your listing, are essential, as this helps property hunters make more efficient choices. Too little information, and they may ignore your listing entirely, and that could mean you miss out on a sale.
- Strike a pose: Clear, current photographs of your property are a critical component of your online marketing efforts. Including a professionally-created video tour of your home can also help. Ask your estate agent about this option when you’re looking to sell your home.
- Be honest: If the property you’re selling needs renovating, you can’t purport to be selling a “just move in!” property.
Your estate agent
If you’re selling your property privately and haven’t yet been able to snatch up a sale, it may be time to consider hiring an estate agent. A reputable estate agent will be best suited to advise you on solving all of your “can’t sell” problems, and will work hard to help your home find a new owner. They’ll coordinate show days, manage the technicalities of the sale, and oversee every part of your property journey. There are big benefits attached to relying on the services of an experienced estate agent. Alternatively, if your relationship with your estate agent doesn’t seem to be bringing in the results, consider changing estate agents.
Read more: How to choose an estate agent.
Your price
Finding that sweet spot when setting your property’s price may require the input of an expert. Using the services of an estate agent to help you set the right price is key, because they have intimate knowledge of your suburb too, and where similar properties may have sold at the right price. Overpricing your property may seem like a clever way to do things, but it could deter serious property buyers from your listing entirely.
Your location
The property you’re keen to sell is situated in one of the most wonderful suburbs, and is easily accessible from the main roads, making its next owner’s daily commute to and from their office a breeze and...it’s still not selling? There must be a reason why the location of your property is putting off potential buyers. Usually, this would be a combination of too high a price, and an imperfect location, but you can’t always assume these things. You can, however, overcome any location-related issues by marketing it differently. If you live near a busy road, then you may want to direct your marketing efforts towards a different audience. If you’re advertising a property for sale that’s located on the outskirts of a suburb, it may make better sense to shift the information listed for it. For example, the sale of a suburban family home and the sale of a house that could be converted into office space, would attract two completely different types of interested buyers. You can’t change the physical location of your property for sale, but you can definitely try and change the buyer it’s best suited for.
Your property
Remember earlier on, when we recommended you be honest? Well, every secret is revealed during the sale of a home, so don’t try and cover up the condition of your property for sale. If your home needs some work, and you’re not keen to do it, then market it as a ‘fixer-upper’ and price it accordingly. You may be quite surprised to find that there’s a large community of interested property buyers, looking to pick up a bargain and imbue their new home with their personal style! Alternatively, if your home is in perfect condition, don’t under-sell it in an act of desperation - that could put off interested buyers who become suspicious that there’s a ‘catch’ attached to the sale.
Your competition
If your suburb has a significant number of properties for sale, especially close to your property for sale, it may be time to give this sale process a big think. There may be a good reason why so many people seem to be selling up: if crime levels have escalated, or substantial developments have changed the nature of the suburb, you may not be the only one no longer enjoying the surrounding area. Ask your estate agent for advice and tips on how to improve your property listing, and make it more attractive for potential buyers. For example, if crime levels seem to have made people want to move away from your suburb, increase the security measures you have installed in your property for sale.
You can’t control these factors
There are some things that you simply cannot control, however, when it comes to marketing your property for sale. A depressed economy, investor concerns, or other circumstances, including property pricing trends, are simply factors you’ll need to account for when trying to sell your property. Try and find the right kind of buyer for your precious home. There’s a home for everyone and, eventually, a buyer for every home.
For more advice on how to market your property for sale, consult your estate agent, or check out our Advice Centre.
