It can be frustrating to see that after months of your property being on the market, it hasn’t sold. You may be asking yourself ‘why hasn’t my home sold yet?’ Here are some possible reasons as to why you haven’t gotten the right offer.
Overpriced
The first and most obvious reason is that your property may be overpriced. Most of the time, vendors will have an emotional attachment to the home that can make it hard to see what the market is telling you the house is worth. Unrealistic reserve prices at auction, as well as an unrealistic price guide can result in a home not getting the attention and offers the vendor desires. With the market in a constant state of change, it is important to be communicating with your agent and listening to the updates and research they are making on the current market. Be sure to keep an eye on what has recently sold in your area, for how much, and how that compares to the price of your own property.
Poor Marketing
Marketing can be the make or break of a property sale. Strong marketing campaigns will ensure that you are reaching each and every potential buyer and will result in a successful sale. Poorly taken and unflattering photos, lack of social media attention and poor communication on your agents’ behalf just won’t cut it; especially in a ‘soft’ market.
Poor Street Appeal
Most buyers will do a drive-by before they come to the inspection. When it comes to homes, first impressions last, and if the street appeal doesn’t get buyers through the door, unfortunately not much else will. Be sure to give the front of your home some attention by ensuring the gardens are watered and well manicured, windows are washed, the front door is clean, and everything over-all is well maintained.
Poorly Presented
Homes that are poorly styled, not completely clean or are under or partly renovated will most likely deter buyers. A bigger portion of properties being bought in recent times are by younger, first home buyers. With this being said, it’s important to tailor your sale to them. Ensuring your home is well presented and virtually ready to move in to will attract buyers and assist them in being able to visualise themselves in the home. People will pay for convenience.
Choice of Agent
Sometimes, it isn’t your home that’s the problem; its the agent. Good agents will communicate a realistic price and offer comparable properties to back up their statement, offer a good marketing strategy, give you updates after every inspection, answer your questions and communicate freely and efficiently. At Aurora, we focus on customer service and ‘the process’. By working with integrity, we can ensure honest and reliable feedback on your home, which gets the desired results. At the end of the day, only honest, hard-working and reliable agents will get you the results you deserve.
About 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.
Article by Andrew Nguyen
