What to do when you can’t sell?
Your home has now been on the market for ages… by that we mean more than 90 or 120 days. You are probably wondering “what the hell is going on?” and what can you do to finally get a buyer to bite on your property.
Managing Director of Aurora Estate Agents, Andrew Nguyen, says “Sometimes it’s the little things that will help, and others it will be a complete change or relaunch all together. It’s the job of your agent to have the expertise and skill to guide you through the entire process”.
“Obviously take all feedback constructively, but if you feel like you are not getting results because your agent is not working for you, then it might be a time to seek help elsewhere”, he said.
So here’s seven tips to get a sold sticker on your board sooner rather than later.
1. Refresh your advertising
If your ad stays the same and remains unchanged for months on end, the marketplace will notice. Your agent should be looking to change your advertising around if it is not getting results.
Changing your photos around are one of the easiest ways to freshen up the property. You might need to go all out and take different photos or simply rotate the photos around on your internet ad and change the front main shot. Each shot impacts different buyers so if you change your hero shot, you may attract a different buyer.
2. Are You Aligned To The Market?
If you are pricing yourself out of the market, you will end up paying handsomely. All vendors want a great price for their home, but sometimes the reality is that you are asking for too much. Usually, if you have been on the market for a long time and you have had no interest, chances are it is because of price and you should look at adjusting your price as soon as possible and align yourself with the rest of the marketplace.
Price points are psychological triggers for buyers. A few thousand dollars up or down can spark new interest in your campaign. When the market is soft, an interested buyer may avoid your property because it is too overpriced.
Is your agent giving you the right comparable sales data for you to make the right decision? If you have been on the market for a while, work with your agent to make sure you are listing the property at the right price.
3. Go Comparison Shopping
If you haven’t sold, then scope out your competition and see what they are selling for.
Work with your agent to see how your place compares with the rest of the market and then go to some open homes and auctions if they are held in your area.
Comparing means being realistic about your marketplace and seeing what may be impacting your sale. Try not to compare the property itself; have a good look at how other homes are being presented, whether they’re being sold privately or by auction or anything else that may catch your eye.
4. Does Your Property Need Any Changes?
If you have been on the market for a long time, by now, your agent should have provided you with plenty of feedback from the marketplace. An honest agent would have given you the good news as well as the brutally honest news. If your bad news says you need a makeover or refresh, it might be something worth investigating.
Sometimes it might just be the garden or a complete renovation in the kitchen or bathrooms. If you don’t know, then you are none the wiser.
5. Take a break from the market
When you are on the market for too long, buyers start taking notice and begin to avoid the property. Buyers tend to use time on market as a negotiating tool to try and leverage your position to get a better price for themselves.
Try to avoid selling while your house has gone stale; sometimes it might just be good to take a break and start again when you are ready to do it all over when you have a fresh group of buyers to market too.
6. Be open to advice
Make sure you are taking all the advice on board, especially from your agent. It is not pleasant to be receiving news you don’t want to hear, but it might be the truth that helps you get a sale.
Sometimes getting a reality check may be the best thing you can do. Start listening and taking on constructive feedback.
7. Don’t Point Fingers
The simple thing is to blame others when you haven’t achieved a result. Before deciding to change agents, consider if they have been working in your best interests. As the article mentions above, sometimes it’s just changing the little things that will spark new life in your campaign. Consider constructive feedback and make all the changes necessary.
Aurora Estate Agents
Aurora Estate Agents are a new breed of real estate professionals which are highly focused on their core values: integrity, accountability, transparency, client focussed and process driven. Aurora Estate Agents’ dynamic team is a collaboration of effective marketers, residential sales agents and residential leasing consultants.
South East Melbourne, which includes Berwick, Narre Warren, Beaconsfield, Clyde North, and Cranbourne is the country’s property boom hotspot. Aurora Estate Agents is perfectly positioned with a broad spectrum of property expertise to provide the best advice and skills for homeowners, investors and developers to ensure they continue to maximise growth and take advantage of existing market conditions.