– My home’s been on the market for quite a number of months now. Why isn’t my home selling?
– Well, I’d look at a few things obviously, when I’m evaluating a property and I’m giving advice to clients.
First thing I look at is the price. Is the price at a level which is competitive with other similar properties on the market? Because buyers are looking at that naturally. So often if you’re above the market by even five or 10 percent that might mean that you stay on the market longer and have to realign that price as you go along to meet the market.
The second one, presentation. I always say to my clients when you put your property on the market it’s like being in a beauty pageant. You know you want to be the best in that lineup. You want to stick out from everyone else, and to do that it’s just got to look absolutely perfect.
Promotion’s another thing. Now often people in a really good market, under-promote their property. They naturally think buyers are going to just orientate towards their home and it’s going to be all done and dusted really easily. Quite often it’s not the case. So a key to it is not to under-market the property. So you want to cast the net far and wide. You want to get on people’s shopping lists. You want to make sure if they’re on the internet, if they’re looking in the paper, if they’re in the local area that they’re always going to come across your home. And the other thing with that is you have to have it available for people to come through and inspect. So I always suggest open homes. Make sure that there’s a time that people can put in their calendar to say okay I’m going to come along to this home for half an hour, have a walkthrough, and if I like it we can negotiate from there.
Now lastly is representation. Just making sure that your agent’s capable. He’s really exhausting all those avenues; buyer leads, database management, promoting the property in a way that’s going to attract those buyers to you and also giving you the right advice. Making sure that if there does need to be a price reduction because it has been on the market for a couple of months that you actually take that on board and he can show you why. All of those things all put together mean you’re going to catch the majority of the buyers in that market place.
If you’re asking yourself “why isn’t my home selling?” that’s really all you need to do.