As a seller in Canberra, there is nothing more frustrating than having a property that sits for ages on the market without a sale. This can leave you asking yourself “why isn’t my house selling?”  In some cases, the Canberra real estate market may simply be going through a bit of a dry spell.  However, there are also cases in which a house may not be selling due to other factors, aside from the current state of the market. If your house has been on the market for too long, in a hot market, consider our advice to improve your sale prospects.

Readjust your price

Price is a touchy subject and many agents will avoid having direct conversations with their vendors about adjusting the asking price of their property.  Every seller wants their home to sell for top dollar and as I mentioned previously, some agents will say anything to secure business. This includes the price they say the property will sell for.  Many agents say that they can achieve a higher price so that the vendor signs on with them.  This results in a property sitting on the market for longer as buyers overlook the property as something they cannot afford.  If your property is not selling, there is a good chance that it is overpriced.  Do some research and see what similar properties have sold for in recent months.  How does your property compare feature and price wise?

Refresh your marketing

Effective marketing is vital for a successful sale outcome.  Quality high resolution professional photography is a must.  My open homes are always busy as there are many people who come just to have a sticky beak at the amazing looking home because my photography is high quality.  This works for buyers too.  If there is a house that is in their price range and looks fantastic online, they become excited and emotionally invested in the property before they even look at the property in person.  This emotional investment is important as it helps purchasers to overlook minor flaws which might turn them off should they not already be invested in the property.

Think about having your photos retaken.  Also think about what other advertising mediums might be worthwhile investing in.  Are you missing out on your buyer because you are not advertising your home where they are looking?  Think about your target audience and ensure that your marketing is reaching them.

Try a different approach

There are two ways to sell a home in Canberra; via Auction or Private Treaty.  Auction has many benefits for a property that has been marketed for a long time with no bites.  Auction provides the opportunity for a potential purchaser to voice what they are prepared to pay for your home offering a good learning opportunity as to where your Tuggeranong property sits in the market.  As a vendor, you lay out a reserve price, which if met, sells your home immediately.  This means there is no opportunity for the purchaser to change their mind and you have the security of knowing your buyer is approved for finance and ready to purchase.

Auctions also hold the potential for bidding wars amongst purchasers who fight against one another to secure the home.  It is common knowledge that emotions sell property and a bit of healthy competition might be just what your sale is in need of.  If your home has sat on the market for a long time it might be worth putting it up for auction with the potential to secure an immediate sale for the top result.

Get a new opinion

If your agent has not sold your property after several months of sitting on the market it might be time to refresh your agent by choosing someone else to facilitate the sale of your home.  As you get tired of your property not selling, your agent does as well.  Getting a fresh person in to reawaken the process might be just the fix your sale needs.

Many of my happiest past clients are those who picked me as their agent the second time around.  I pride my business on clear, precise and honest communication which is appreciated and valued by my vendors.  This means I communicate issues with my clients and help them to realise the reasons why their property might not be selling.  Unfortunately, this approach is not taken by all real estate agents, many of which secure their business by saying whatever it is that their client wants to hear, be it the truth or not.

It is always worthwhile getting a second opinion and I am more than happy to provide my opinion on how you can re-establish your sale for fast results.  I will provide you, free of charge the methods I will take to sell your home quickly with a satisfying result for you.

We hope you have found this information useful.  If your property in Tuggeranong is languishing on the market, and you need a second opinion, please feel free to call us on 6171 2220 or email us.  We look forward to helping you.