You’re excited to sell your home and move onto the next stage of your life. The market is hot, you’ve found a real estate agent that you click with. You put it on the market, expecting it to sell fast so the wheels of life can keep on turning.
But it doesn’t sell.
People inspect, they express interest. But no one buys. It’s very confusing, particularly when houses seem to be selling like hotcakes.
So why isn’t your home selling? Today we’re going to take a look at some of the reasons it might not be.
We’ll be honest, when a listing stagnates for extended time, it’s usually because its priced too high. Even if the market is hot, the sky isn’t the limit. Buyers are smart and they’re not going to throw their money at a property that is overpriced, when they can get something similar for a lower price.
Be flexible on price, going in with an open mind and be willing to drop your asking price if the market dictates that. Work with your agent to determine that your initial asking price isn’t too high, as this will immediately turn away interested buyers.
A good agent will look at comparable listings and sales and use their in-depth knowledge of the market to determine the optimum price to sell your home fast at a price that you’re happy with.
The first impression people get of your home is what kind of street appeal it offers. If the façade is drab, the front yard is uncared for and there’s a general dishevelled feel upon arrival, it’s either an immediate turnoff for buyers or they feel they’ll be able to get the home at a price much under what its actually worth.
Upping your street appeal doesn’t need to be difficult. A coat of paint to the front of the home makes a lot of difference. Do any outstanding maintenance tasks such as fixing broken parts of the fence or filling in holes in the driveway. Probably most important though is the landscaping in the front yard. A beautifully landscaped lawn fringed by well-tended flower beds not only looks attractive, it shows you care for your home.
In a crowded marketplace you want your house to be visible amongst the rest of the other listings. If your marketing material is subpar, people are going to think your home is too. A house with crisp, professional photograph, videography and floor plans is going to attract a lot more interest than a home with photographs taken with a mobile phone. Make sure your real estate agent is using qualified professionals with a great portfolio to capture the visual marketing materials for your home. If not, it could sit on the market for longer than expected.
Marketing a home that the vendors have put time and effort into being beautifully presented is much easier than marketing one that doesn’t look good. The result of that is normally a well-presented home that won’t stagnate without attracting interest.
Presentation can be enhanced with something as simple as clearing away the clutter of daily life. Having a streamlined looking home with clear surfaces makes it feel bigger and airy. Making sure the home is clean, stains are removed, windows are washed and any lingering smells are eradicated all contributes to top notch presentation.
Related to presentation, staging is when a professional comes in and furnishes an empty home for the purpose of sale. This is beneficial for many reasons. The furniture they use will match the home correctly, enhancing its good features and appealing to the correct target market. It’s proven that staged homes will sell faster than an empty property, so this might be something to think about if your home isn’t selling.
If you have any questions about real estate in Brisbane or would like to book in an appraisal for your property, please get in touch with The Henry Wong Team®. Henry would love to chat and discuss the current market conditions and how they can affect the sale time of your home.