A rash of solid offers after the first viewing is every property seller’s dream – but things don’t always play out that way. Even in a buoyant market, some dwellings take longer to sell than others. So, what are your options if yours is proving slow to shift?
Property marketing strategist and Revolutionary Real Estate founder, David Kaity, has some suggestions.
Check the numbers
It can be natural to fret when you’ve staged a few open houses without getting a bite. Investing in a suburb report may provide you with some perspective with data such as median price for your suburb and the average number of days on the market.
“Homes up to and around the median price will tend to sell sooner than those significantly above it,” Kaity says.
“It’s important not to have unwarranted panic and get desperate – wait until you’ve seen your home go a couple of weeks beyond the norm before concluding there’s a problem.”
Ideally, you should have your property looking picture-perfect before it’s listed. If it’s been languishing on the market longer than you’d hoped, it might pay to invest additional effort into its presentation.
Tidy gardens, a fresh coat of paint and a ruthless declutter will increase the appeal of most dwellings, while anything that’s broken or damaged should be repaired or replaced.
“People buy a home for two reasons – perceived value and the way they feel inside it,” Kaity says.
“The better they feel, the higher the perceived value will be and that means you need to focus on presenting the property to appeal to their senses – sight, sound, smell and touch.”
Upgrade your advertisement
It’s hard to get your property noticed if it pops up on page 10 of a suburb search. Upgrading your advertisement on online real estate platforms can push it to page one, where it will be seen by more potential buyers.
“This costs money, but it can really make a difference if you’re selling in an area where there are dozens of similar homes,” Kaity says.
Adjust your expectations
Meeting the market means just that. If you’re receiving offers but they’re below the price you anticipated, it’s possible your expectations need adjusting.
Ideally, you’ve positioned the property in a price range rather than naming a specific sum – that way there’s no need to publicise the fact you were overly optimistic, Kaity advises.
“Reducing your price publicly sends the wrong signal – potential buyers think you’ve got it wrong and are getting desperate.”
Try again later
When it comes to marketing a property, changing tack midstream can be challenging. In some circumstances, pulling the pin and starting afresh a few weeks later is your best bet for securing a solid sale.
“The longer you’re on the market, the more people will think there’s a problem with the property and it develops a stigma,” Kaity says.
“If it’s been too long and you’ve made mistakes that you can’t easily rectify, pause the ad, carry out the necessary improvements, have new photos taken and relaunch.
“In two or three months’ time, the market will have forgotten and there’ll be a new cohort of buyers.”
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