4 key reasons why your home isn’t selling?

So your property has been on the market for a while, all the media you’re reading is saying properties are being snapped up left, right and centre, so why isn’t your place selling? This is a common question but the answers aren’t that much of a mystery.

Here’s a look at four of the most common reasons why properties don’t sell.

You haven’t priced your home to sell?

Your home is probably your most valuable asset, so making the most out of the sale is paramount to you. But to sell your home in a reasonable time frame, the price must be right, it must reflect what the market is prepared to pay for it.

A bad first impression

You only get once chance to make a first impression so you want to make a good one. With competition high in the market, to help make your property stand out from the crowd, and attract more buyers you need to spend time styling your property to sell.

Property styling isn’t as hard as you think. It’s all about employing design and presentation techniques to create a visual marketing tool which will increase the potential of your home attracting the most amount of buyers and ultimately a quicker and more lucrative sale.

Poor photographs of your property

Most people’s first impression of your home will not be up close and personal, it will be through the photographs you present in listings. To really put your home a cut above the competition, it’s vital to capture your home’s best side on film. One of the easiest ways to get this done is to hire a professional photographer to really make your home look like a star.

This means you can get crisp, clear, stunning imagery right through your photoset. A higher-quality set of photos is more likely to attract buyers, and is a must when selling. We buy houses in Hot Springs

You haven’t invested appropriately in marketing and advertising

Marketing your property is an essential part of achieving a successful sale. If your property isn’t selling, have you spent enough on the marketing plan to ensure your property has had maximum exposure in the market?

To work out how to price your property consider the following

Your initial appraisal

At the beginning of your campaign your agent would have appraised your property.

To get to this figure they would have conducted a comparative market analysis and looked at similar properties that have sold within the last 90 days. They would have considered current competition, wider market trends and your properties structure and conditions to arrive at a value that they believe you could achieve if you sold your property at that point in time.

Buyers sentiment

Understanding buyer sentiment is important when setting your price. Talk to your agent and see if there are any passionate buyers, what does the agent think they would be willing to spend, what is the general feeling at the open homes?

Advice from your agent

Your agent is at the coal face of your marketing campaign, they are hosting open homes, fielding calls, sending contracts, following up attendees after inspections. They know how much interest there is in your property plus any positive or negative feedback. They know what the market is thinking about your property and are an important resource to tap into when setting your reserve.

Any offers and market feedback

It is important not to get sentimental about your property and set an unrealistic reserve. It is very important to talk to your agent, to review any offers and listen to market feedback from your agent.

Over the course of a sales campaign, even a 3-4 auction campaign, the property market can fluctuate and it’s important to factor these changes in when setting your price. You want to be “in the market” not “on the market”. Consider carefully are you prepared to sell for what the market is prepared to pay?