Ideally your house sells in the first few weeks as that is the time you are most likely to obtain a premium price. But what can you do if time is passing and your house still hasn’t sold?
The three main factors we talk about are pricing, presentation and marketing. Get these right and your house has a very good chance of selling quickly. However, there are also cases where the house is difficult to price or some other reason has stopped it from getting offers in the ‘honeymoon’ period.
Get feedback from the market
Your salesperson should be canvasing the opinions of buyers who are looking at your home. They should also be regularly communicating with you so you can continue to adjust the marketing plans as time passes.
You will hear from the market if it’s overpriced or if there are other negative elements that are holding a property back. It may be that the wrong aspects are being emphasised in the marketing, the photos might not do it justice, or the presentation is not good enough.
Many of the negative elements that buyers mention can be adjusted. Presentation can be improved, better photos can be taken, or the marketing can be changed to focus better on the ideal type of buyer.
Price is the most important factor that may have to be looked at, but it’s not the only element. It’s important for your salesperson to be attentive and for you both to make tweaks as needed.
Hopefully the price of your home was given careful consideration before you launched onto the market. But it’s still possible the pricing was wrong. This is more likely when your property is unusual or in a low volume bracket (i.e. over $800,000 in value) as there are fewer sales to refer to, to aid the salesperson’s market appraisal of the property.
Not adjusting price on a property that’s not selling can be a real negative, so it’s good to move on this as soon as it becomes obvious that the pricing is incorrect.
Getting your property sold
It’s always advisable get everything planned well, before the home goes on the market. But if it doesn’t sell right away, that doesn’t mean you have to just sit back and hope. You can still be proactive and make the adjustments necessary to get your home sold for a good price and in a reasonable time frame.
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