5 Most Common Reasons A Property Fails To Sell Quickly
It can be quite frustrating when your property has been on the market for a while and you cannot get it sold off either because you are not getting suitable offers or as it happens in some cases, you are not even getting showings. Understanding why it happens can help you fix this problem and sell your property off so you can move on to other things.
Why a Property May Fail to Sell
Here are some common reasons we have found that make it impossible to sell off a house as quickly as you may want;
1. Poor Staging
Many people do not consider it necessary to touch-up on their home when they want to sell. That might be a reason why the property fails to sell. The fact that it looks okay by your standards does not mean the buyer will find it appealing. You should consider working on the house to make it more attractive to any potential buyers especially when the issue is that you are getting showings but nobody is offering any price. Clean bathrooms, good lighting, a fresh odor, a well kept exterior and basic renovations are necessities in this regard.
2. Overpricing
What you think a house is worth may not be worth the market says it is worth. If your price is above the market price in your location, then you are not likely going to be able to sell it off seeing as any buyer will prefer the best offer available. Ensure you are valuing your house properly. You may need to consult with an agent in this regard as they are usually more aware of the changing situation of the market.
3. Using The Wrong Real Estate Agent
Handing over your house to a wrong real estate agent can make it impossible for you to get your house sold. Understand that a wrong agent is not necessarily a quack agent. A wrong agent for you could be one who does not have adequate knowledge about the local market or one who has too many houses on his plate at once and cannot commit his attention to your house at the time or one who does not have a track record of making sales of your kind of property. Ensure you do your research before choosing an agent to represent you. You can search for the best real estate agents in Canberra, Adelaide, Perth or whatever else your location may be and choose from the list after careful consideration of what suits you.
4. Advertising
Sometimes, the very thing that should bring a sale, like advertising, can be the reason why you do not sell your home especially when it is not done right. Advertising is not just about letting some people know you have a house for sale but about reaching the maximum number of people possible, and making them see reasons why buying your house is the best deal available. You cannot achieve this with just some front-yard sign or by simply listing your house somewhere. You have to be deliberate about your marketing efforts using sites with the widest reach and showing your house in a state that anybody that sees it wants to come for a showing (even if it means getting professional shots).
5. Flexibility
Not being flexible can make you miss out on a potential sale because chances are that your agent knows when a good offer has been made to you for your property. Sometimes, it may require you to go lower than your asking price. Be flexible and communicate well with your agent asking for feedback based on the buyers' perspectives.
Conclusion
Fix all these and you do not need to sweat for too long again. Your house will be sold before you even know it.
