So you’ve had your property up for sale for a while now and you can’t seem to sell it? We all know it’s a tough market out there, and despite some recent pickups, your home in particular might have been sitting on the market for some time without a lot of prospective buyer interest.
There’s no doubt you’ll be feeling totally frustrated and confused on how to move forward. Primarily, you have two options – sit back and let the market run its course or you can employ a couple of different initiatives to help speed up the process.
Reassess the price
We’ve said it before, and we’ll say it again – the most important aspect of a home sale is price! Its common knowledge that the most common reason a house hasn’t sold is due to incorrect pricing. Make sure you find a trust worthy agent, who’s knowledgeable of your local area, who can give you an accurate value of your home.
It’s of upmost importance that your property is realistically priced, particularly in today’s market where we are overloaded with stock. Don’t forget to look at similar homes in your area, to see what they are listed at. If your home is significantly higher, it might be time to cut your price.
Be flexible with offers
It is always in your best interest to be open to negotiation. It might be an idea to consider offers that are below your expectations, instead of straight up dismissing them. You’ll always have the option to walk away should you not reach an adequate middle point. Remember the key to a successful relationship (be it personal or business related) is compromise! It is important to look at all offers as credible opportunities, especially in a tough market.
Groom your home
You’d be surprised to learn just how much the look of your home counts when selling, especially since the rise of online home advertisements. Potential buyers can dismiss your home easily if it isn’t visually appealing so it is best to start with the simple things such as clutter and mess which can detract from your home’s overall appeal. A quick organise and tidy of your home can do wonders!
You can also improve your interiors with a couple décor items, a fresh coat of paint and some minor renovations. First impressions always count and people do judge a book by its cover – so help your home be the best it can be!
Take a break from the market
Homes that stay on the market for months and months often carry the stigma that there might be something wrong with them. If you’re in the position, consider taking your home off the market for a couple of months. By the time you re-list, there will likely be a new bunch of buyers in the market who will be viewing your property for the first time. This time away from the market will give you some time to address the appeal of your home.
Become an accidental landlord
If you’re struggling to sell, you can always consider renting your property out. While it’s not the ideal solution, at least you will have some money coming in until the market picks up. If this seems like your only option, make sure you have your property professionally managed to help ensure you can get the most out of being a landlord for the time being. Who knows – you might like it!