Deciding to sell your property is a big deal— then having to choose which real estate agency to go with, marketing options and an acceptable price are all part and parcel of the process. Then comes the BIG question that so many sellers ask their agent. Why isn’t my house selling?
- Plenty of people are turning at open homes but no offers are coming through.
- You’ve received a few offers, but these are all about the same value but nowhere near your asking price.
- The property market has dropped since you initially listed, and you haven’t adjusted your price accordingly.
- Your photos are just awful or non-existent.
- Few people coming to view your home.
- Your online presence contains minimal description / information that doesn’t create buyer interest in your home.
- Your agent’s website receives very little traffic and he/she believes that online marketing simply means having your home listed online.
Open Home / Showing Problem?
- Potential Buyers cannot view your property at a time that suits them.
- Your viewing appointments are heavily restricted: (eg: 15 minutes with a 12-hour notice period).
- You are at home during property open homes (not the best idea).
- Your pets are a nuisance or intimidating as soon as anyone enters the home: (unsecured dog barks, cat leaps forward, etc).
- It is difficult for other agents to book appointments because your agent has no receptionist or answering service.
- Potential buyers cannot quite understand how to use the rooms: (odd furniture placement, room shapes, poor feng shui, etc).
- Distraction caused by too much clutter and/or mess for potential buyers to really see the house.
- You have very unusual or large collections, a shrine or obvious weirdness on display (huge negative distraction)
- Your home is located on a busy road, overlooks train tracks, your neighbour is a hoarder or is unfortunately in an unattractive area.
- Obviously a not so good location is not something you can change— but refer to #1 PRICE as every location sells at the right price.
- You are repeatedly given the same negative feedback about your house from potential buyers via your agent / broker.
- Some problems cannot be fixed (lack of parking, allotment size, etc) — but refer to #1 PRICE as every house sells at the right price.
- Too many neighbours selling at the same time as you.
- It’s Christmas / holiday season which may not be the best time to sell.
- Regulation changes have recently been introduced slowing down the market, interest rates heavily increased, etc.
- The market is extremely quiet with nobody selling property.
Lack of motivation due to not really needing / wanting to sell as you are merely testing the market? The result is that you don’t care what the market tells you because it simply doesn’t really matter. You want your price and if the market won’t meet it; that’s quite okay with you.
Agent / Broker / Agency Problem?
Often, the main reason that YOUR house may not be selling is due to your agent or broker. What are the tell-tale signs to look for?
- No feedback or updates on your own property
- Not regularly advising on what’s happening to other properties for sale in your neighbourhood.
- No new strategy suggestions or adjustments to the shifting market to get your house.
- Your agent/broker simply listed your house on the internet, expecting that it will sell itself.
- No understanding of the power of staging.
- Non-existent or very weak negotiation skills.
Market Value: The Giant Elephant in the Room!
Although the industry uses recent and comparable sales within the neighbourhood to forecast market value— reality is market value is whatever price a Buyer is prepared to pay meets whatever amount the Seller deems is acceptable. However, bank valuation of a property often plays a key role in determining market value but is ultimately dictated by Buyers and Sellers.