Have a property on the market that isn’t getting the interest you had hoped for?
When you put a lot of effort into listing a property it can be a very frustrating experience when it isn’t pulling in any offers. But no matter the situation it’s important for sellers not to lose hope.
There are usually a number of options available to help turn things around and get a property sold.
- Rethink your advertising
If you’re not getting a lot of buyer enquiries then ask yourself how effective your advertising campaign is.
Most buyers will be doing their property research online and will be drawn in by captivating online listings. This means that you need to have high quality images that highlight the best aspects of the property.
You may need to take new ones if your old ones aren’t doing their job, perhaps highlighting different angles or using new styling.
A detailed property description is also important and can go a long way to entice buyers.
Discuss with your agent who your target market is and other ways in which you can help your property gain more exposure.
- Make improvements
It’s possible that the property’s appearance is turning people away. If you think your property might look a little rough around the edges then consider a cosmetic renovation.
A fresh coat of paint can help to make the property look fresh, as can new landscaping and an overall neat and tidy appearance. It may also be worth bringing in a professional staging service to give your home the updated look it needs.
Get honest feedback from buyers first to help assess what may be turning people away. You don’t want to spend money on improvements that aren’t going to make a big impact.
- Review pricing
Incorrect pricing is a common reason why properties stay on the market. If you hope to sell then you need to price the property to meet the market. If a price is too high it may prevent interested parties from making an enquiry.
Research comparable property sales in your area and ask if what you are asking is reasonable.
Remember that the price you set needs to reflect the current market it’s in and not the one that you bought in.
- Take a break
If you’re not in any hurry then it could be worth taking your property off the market for a little while to see if you have a better chance of selling in a different market.
Eventually a property listing can become stale and buyers will start to pay less attention to it, instead favouring new properties that hit the market.
So if you can afford to take a short break from selling it can be worthwhile and it will allow you time to reassess and refresh your campaign, while also giving you a shot at hitting the market again with a new group of buyers.
- Be open to feedback
Have a chat to your selling agent about what the issues could be. Generally they will have a good idea of why you may not be getting the right kind of offers and will be able to offer suggestions to help turn your luck around.
Sometimes the feedback you get may not be what you want to hear but its best to have a clear vision of what is happening so you know where you might need to make changes.
Overall, try to stay positive and take your time if you can. There is always something that can be done to help you on your way.