There are times when a property doesn’t sell the first time it’s listed for sale, even when the market is favourable; almost 20%-3% of homes fail to get sold. Regardless of what the reason for this is, it’s important for a seller to prepare himself/herself for the possibility that their marketing efforts will fail. In case it’s something that happens to you, here are some tips on what you can do:
Relook at Your Price Strategy
This is one of the first things you should be considering. You need to ensure that the sale price you have listed is an accurate reflection of the home’s value as well as the existing market sentiment. You won’t benefit in any way, if you continue to stick to an unrealistic value which isn’t in sync with the market conditions. In fact, this could be the reason why your house hasn’t sold. This is why it’s important that you relook at your price strategy.
Conduct Some Research
You can check websites such as onthehouse.com.au and see which other comparable properties have been listed there and the prices they had been sold for. You can also get a free profile report on the property; this will give you a better idea about what the value of your property really is. It’s crucial that you keep the psychology of selling when it comes to setting a price for your home. For instance, your property is likely to attract more interest if you price it for $399,000 rather than $401,000.
Check Whether Your Agent is Doing His Job Right
Your real estate agent works for you and you need to make sure they are providing you with the level of service you are paying for and expect from them. If you are concerned about progress and aren’t happy with the pace at which things are going, there’s nothing wrong with voicing this concern to your agent; the sooner you do this, the better it will be. It’s crucial that you conduct research on the agent even before you hire their services- check online reviews and testimonials and ask them for references before hiring them.
Revisit Your Marketing Campaign
Regardless of how good your property is, if people don’t know of it, the house won’t sell. Ideally, your real estate agent should be able to provide information on the number of online views your property has had and the number of inspections that have been carried out. This will help you get a clearer idea about whether your marketing campaign is working the way it should. When you revisit the advertising campaign, it will help you identify loopholes and fix them in conjunction with suggestions from your agent.
A good real estate agent will work closely with you to ensure that your home is presented well and that it’s listed on all the right platforms. If you are looking to buy or sell real estate, contact Stefon Bertram, the most reliable and reputed real estate agent in Sydney, at this number- 0404 071 51.