It is incredibly frustrating when you are struggling to sell your home, despite trying your hardest to choose the right real estate agent and sure you have the right strategy for selling it in a timely manner and for the right price. If you are in this position, it is likely that you have spent a considerable amount of time, effort and money in order to position your property in the best possible manner and with the objective of generating the best possible return.
What has resulted in where you are will depend on your individual circumstances, and I am happy to have a discussion with you to inform you of what I believe has been the key factor in your property not selling, however for now I want to share with you the options you have moving forward.
A property usually only struggles to sell for one of 3 main reasons:
- It has not been marketed correctly
- The Real Estate Agent is inexperienced or
- The property is located outside of the Agent’s area of expertise.
If you are in the position where your property is not selling because of one of these 3 reasons, what should you do?
First, review the marketing campaign you have in place. The pictures of your home should promote the aspects of your property that will be attractive to your target market. Have they been professionally done? If not this is a matter for concern and should be fixed straight away.
Has the property been promoted well on online portals such as Realestate.com.au?
Has it been easy for your target market to find it online? E.g. Has your property been a featured listing or just a standard listing on page 15 or so? Your property needs to ideally be featured on the first page or two in order to have the best chance of being seen.
Is the copy about your home engaging to the buyers and does it showcase all of the best points about your property?
Is the copy about your home interesting to read or is it bland and not describing the key features and benefits of your property?
You also need to review the price of your property. Is the price of your property within the range it should be and is the listed price right for your type of property? If your property is priced too high it will attract the wrong type of buyer to your property who is likely to be looking for more than what your property offers. This will typically result in less interest and competition and your property will stand out for the wrong reasons because other properties will be appearing to be better value. If you are unsure of whether the listed price is correct for your property get a sworn valuation done. If you get the price right you will attract the right buyers to your property.
Does your Real Estate Agent Have proven experience with your type of property and have the necessary skill set? Is your Real Estate Agent a proven negotiator and is he/she a local expert in your area with a database of qualified potential buyers?
The Real Estate Agent should not just be relying on cold advertising to find suitable buyers for your property. They should be engaging their database of known buyers who meet the right criteria so make sure they are!
Finally, if you need too then consider taking your property off the market, resting it for a few months and relisting it with a completely refreshed listing. Ensure you have new copy, re-arranged furniture, new photography and a new Real Estate Agent. It can be better to retreat and re-group rather than make too many concessions to just sell the property.
You will have learnt a lot from the first attempt and be stronger for it. Of course it is always better to get it right the first time and not have the stress, however it is also better sometimes to have a break and then sell for the right price rather than selling it for less than what you should receive.