5 Reasons why your property might not be selling

Silver house key lying on a contract of house sale
Silver house key lying on a contract of house sale, lease, insurance or mortgage in a real estate concept, viewed low angle with focus to the tip.

Your property has been on the market for a while now and it has not sold. In fact, you haven’t received any offers. Should this be the case, don’t bury your head in the sand and consider one of the following points as to why this might be.

1. Price

The most obvious thing that could be putting people off is the price. If you aren’t even having any viewings, then the property is certainly priced too high. Speak with the experts and take a look online at your competition to make sure your property is competitively priced.

2. Competition

Is there another unit in your building for sale that is comparable to yours but more affordable, has a better view or a newer kitchen? If a prospective purchaser has the choice of more than one unit, then naturally they will pick the one that is suited to them better assuming that they are both comparable. However, if the units differ in condition or size, then this needs to be reflected in the price. If it isn’t then, of course, they will go for the more attractive option.

3. Market conditions

Should the market be buoyant with property transacting no problems then this should ring alarm bells. But at slower times of the year, typically around the holidays, or due to economic conditions, then all property owners should be experiencing the same providing reassurance that you are not the only one disadvantaging from this. >>DDproperty Property Market Outlook Insightful Data And Analysis

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4. Presentation

The viewings are happening but there are no offers? This is a partial success since you are getting people through the door suggesting that the price is right, however, something is stopping them for making an offer, even if it's not an asking price one. Is the property tidy? Are the photos misleading online? Or is there water damage from a leak? Buyers tend to be short-sighted and cannot see through the clutter or beyond any repairs. Create a nice welcome for them and the offers will start rolling in. >>Tips On How To Present Your Property At Its Best

5. Negotiation

You are receiving offers but a sale has not been agreed. Could it be that you are sticking to your guns and are unwilling to shift on the price? If this is the case then you need to be prepared to wait out until an asking price offer comes in. However, this wait is unlikely to be worth it for someone willing to transact immediately freeing up your money. Lower offers are a starting point for you to negotiate on. If you want more and they aren’t willing to shift, then include something else in as part of the deal such as a piece of furniture. Skilled negotiation will result in a sale, a happy seller and a happy buyer.

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