So, your house has been on the market for months now, but the only interest it seems to be getting is from spiders building their webs on the ‘For Sale’ sign out front. As a seller, there is nothing more frustrating than a property that won’t sell, and you may begin to sniff your armpits, check your breath, or wonder if your house is mysteriously infected with contagious disease.
Well there’s no need to go sloshing disinfectant around your home (unless you’ve been operating a petting zoo from your lounge room), because there are some key reasons why your home may not be selling. In some instances, the real estate market may be experiencing a bit of slump in sales, where it is possible for a house to sit on the market for several months or even a year before a sale is finalised. But if this is not the case, we’ve put together six other reasons why your home may not be selling.
This is one of the most common problems with a house sitting idle on the market. Looking at your house from a buyer’s perspective isn’t always the easiest thing to do, especially when it’s a home full of love and cherished memories; but if your sale price is clouded by sentimental value, there won’t be too many buyers nibbling at the bait. The market is constantly changing and you need to be realistic with your price. Regardless of your personal feelings, the reality is that your property is only worth what someone is willing to pay for it.
2. Poor condition or presentation.
Been putting off maintenance or repairs? Could it do with a coat of paint? Is the garden overgrown with weeds? Any of those annoying jobs you don’t want to deal with means that a future buyer does, and unless they’re intentionally shopping for a fixer-upper - ain’t nobody got time for that! It can be a bitter pill to swallow having to pay for home improvements that you won’t enjoy for long, but a little TLC can mean the difference between getting your asking price, and watching potential buyers bail out the front door quicker than you can say ‘but it adds character…’ Nope. It just adds to their job list.
3. Inadequate marketing.
Putting an ad in your local classifieds may have been an effective marketing strategy 20 or so years ago, but in today’s digital world, your house will be unlikely to find its target without a clever web profile. Having a strong marketing campaign is key to reaching every potential buyer and achieving a successful sale, and real estate agents are highly skilled at implementing effective marketing techniques. Advertisements and mail drops are still a great idea, but if you really want your property to be seen, get an agent to establish a web profile and consider adding a video tour of the home to create an extra dimension for your online listing.
4. Dodgy listing photos.
Smart phone cameras have proven to be a valuable tool in our snap-happy society with their myriad of purposes; however, photographing your sale property should never be one of them. You only get one shot (quite literally in some cases) and a matter of seconds to make a big first impression, and if your listing photos don’t wow a potential buyer, they will skim straight over them and move on to the next. Having professional photos and videos highlighting the best features of your property will reel the buyers in - hook, line and sinker.
5. Hiring the wrong agent.
It’s not me, it’s you. If the price is good, the marketing is adequate, and the property is in a competitively presentable state, then it may be time to break up with your agent. Sometimes there’s nothing wrong with house at all, you may have just hired an agent who either doesn’t seem to care, or is turning people off. Be sure to pick an agent with personality and good client rapport-building skills, and do some thorough research to find an agent with the experience and drive to help you sell your home.
6. You’re not motivated to sell.
If all else fails, it may be time to ask yourself a few key questions. Do you know why you want to sell? If you don’t have a clear idea on your ‘big why’, then chances are you’re just not motivated to sell your home. Sometimes a seller’s desire to retain ownership of the property means their asking price fails to align with the current market, even when it’s booming. Being under-committed to the sale is not uncommon, you may just need to reassess the reasons why you’re selling, and think about what realistic price you’d be willing to accept to give up ownership of your beloved home.
And just to completely cover all bases, it might be a good idea to wear deodorant and pop a Tic Tac - just in case!
If you've been thinking about buying or selling your home feel free to contact us for more information at email@example.com or call us on 0431 366 364.