Sometimes when marketing a property the house doesn’t sell and it just sits there and gains little interest. Naturally this is every Real Estate Agents worst nightmare.
I have found that generally if a home doesn’t sell it comes down to one of the Biggest Home Seller Mistakes that I have written about in my free report, actually normally there is a combination of the mistakes that are made.
To boil it all down and simplify things, it really comes down to four key issues with seven move forward strategies.
Why a House Doesn’t Sell Reasons (in no particular order)
• The House
• The Agent
• The Marketing
• The Price
If we look at all the individual steps and decide if there is anything that we can do sharpen up each level.
Is your home presented in the best possible light? Are you keeping the home clean and tidy for open homes? Do you need assistance on presentation with one of my property presentation plans?
Often the easy scapegoat… however we do need to look at it. If you have employed a weak, lazy or unprofessional agent then you need to review this. Urgently. If your agent is not being proactive with you, giving you regular communications and having strategy discussions with you this is an issue.
PS – If you are one of my current clients, or considering if you should be, please know that if at any point you are not completely satisfied with my service, please tell me where. I am very open to constructive criticism and always want to improve where ever possible to give you the best possible service.
There is the old saying of ‘You can’t sell a secret’. It is very true. Has the correct target market being selected? Are the photos matching the text? Is the property being marketed in a mixed media campaign? How are the internet hits stacking up vs buyers coming through the open homes and/or enquiring?
This is by far the biggest reason that a house doesn’t sell. If the bait is wrong, the fish won’t come. The same is true for the price and buyers. Your Agent should have given you a comprehensive assessment at the time of listing – this is a legal requirement.
Solutions For Why a House Doesn’t Sell
There is a solution to every problem, and in this case the solutions are quite simple. First check off against all the first three points. Once you are satisfied with those then it can only come down to price.
At this point we have seven options to take for moving forward when a house doesn’t sell:
1. Adjust the Price. First complete an updated market assessment
2. Remove the Price. Remove any objection on price and initiate a Deadline sale campaign – tender or auction process. Keep in mind that in doing this you are also removing the top thing that buyers are looking for when searching for property. Your Real Estate Agent will be able to discuss this in more detail.
3. Improve your Marketing reach. (Only if you do 1 or 2) If you are not gaining interest at your current pricing levels and you improve your marketing spend, you are basically wasting your money.
4. Options 1 + 3
5. Options 2 + 3
6. Wait and see what happens. Keep in mind that by doing this approach you risk the property going stale on the market.
7. Terminate the agency agreement and remove the property from the market.
As a top performing sales team we often get calls when a house doesn’t sell, we have experience in over 850 successful sales and I would welcome your contact if you need some informed advice.