Property

Selling Tips: 5 things to do if your property doesn’t sell

Your house has been dwindling on the market for months, even years, yet nobody wants to bite. What’s going wrong – and more importantly – how can you turn it around?

If your property has been on the market for a long time and you’re just not able to move it, here are seven things you can do to get out of the rut and get that sold sticker.

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1. Refresh Your Advertising

Most buyers are looking at properties well in advance of purchase. If your listing and property details remain unchanged for months on end, your potential buyers will notice – and not notice you as a result.

Shake up your advertising if it’s not working for you.

Photos are one of the most important ways buyers spark interest in your house. Try taking new shots, updating your property description and finding new ways to sell your place to the uninitiated. Work with your agent and be creative in content and approach.

2. Change Your Price

You’ll pay the price if you end up stubbornly attached to one.

The three most important factors in selling a property are location, presentation, and price.

Price points are psychological triggers. One to five thousands dollars in the right direction can spark interest and make a buyer feel a purchase is possible.

If you’ve had your property listed for some time, the market will have shifted around it, reassess based on comparable properties in today’s market terms and re-advertise at a price buyers can confidently respond to.

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3. Take a Break from the Market

If your property has been on the market for three months without any solid offers and if you can afford it, giving your property a rest for a few months means you’ll have a whole new crop of buyers ferreting out their perfect place. They’ll never have met yours, so you’re in with a fresh chance!

4. Give Your Property a Makeover

Get the lowdown from your agent and buyers who’ve passed on your place. Ask them to be brutally honest about what turned them off. Determine if a refresh is in order.

Ideally you’ll get some specifics that will help you focus any improvements you need to make. Look at low cost, quick facelifts, like a new coat of paint or a better clean up inside.

It might be that a more substantial renovation is needed, and if it will increase your odds of sale and a good price, it’s probably a better alternative than sitting on the market indefinitely.

5. Go Comparison Shopping

You may have done a ton of homework on selling your house, but forgot to scope out the competition.

• Work with your agent to get a handle on how your place measures up against similar properties in the area; in size, bedroom and bathroom numbers, proximity to amenities, quality of interiors, style of presentation, and everything in between.

• Comparing doesn’t mean making your property conform to everyone else’s. It’s about getting in touch with the reality of the market in your area and price bracket. It’s staying abreast of trends or contexts that might impact your sale.

• And it’s being able to ask a price you can justify. When you can compare apples with apples, you’re ready to set up shop.

>> Check out which properties in your neighborhood are on the market now!

Source: realestate.com.au
Author: Venessa Paech