Today’s property market certainly isn’t  for the faint hearted no matter where you live. Chances are you or someone you know is having a harder than expected time trying to offload a ‘for sale’ property in a relatively timely fashion. And that can come as a real slap in the face when you started out with the higest of hopes and expectation.  

But all hope is not lost. The reasons for a no sale are often fairly common. To get the best out of the selling process it’s crucial you take a pro-active attitdue to the whole thing. Houses don’t sell themselves and you can’t just sit idly by waiting for buyers to come bashing the front door down to buy from you. The best home sales don;t happen like that. It’s now time to stop shaking your head (and perhaps even blaming) and start acting. You’ve got to be able to see and act on what the market’s telling you before the other home sellers in your area do. 

First things first. Don’t panic or be embarrassed. It’s ok to be slow to recognize what’s going on in your local market ‘cause selling proeprty isn’t something you do all day every day. You’d be in a different professional otherwise. It’s now time to wake up and smell the coffee and give some real thought to what’s gone wrong for you. 

Talk to your real estate agent about the possibility that your listing has gone stale for one (or more) of these reasons.

1. You need a price adjustment: Lots of sellers fall into the trap of overestimating their property’s value despite their agent’s advice. Buyers aren’t interested in what you owe your lender, how much you need to move or your wonderful memories. So, don’t add a premium to your house price to account for these things. Take an honest look at what’s been selling in your area.

2. Poor staging/presentation: Price and presentation often go hand in hand. Many sellers are unwilling to do too much – if anything to a property they intend to sell. Think about it this way; you’ve got 2 kids bed frames to sell. One looks to be in really good condition and should get you a good price on eBay if you wipe it over and maybe dressed it, took some nice photos and added a good description. The other bed doesn’t look as good. It’s ok, but it’s a bit older and the paint is chipped and the colour is a bit out of date too. You can tell by looking at it that it’s not worth as much as the other bed, so you decide to donate it to goodwill instead. You’re sure someone would be willing to pay a small amount for it. Which bed would you rather be selling?

3. Poor or insufficient marketing: As much as it pains me to say it, some marketing photos are appalling, so check yours. Look at your marketing photos and imagine you were going to put them in your photo album to show off later with pride. Do they look good enough to give you a feeling of pride? Or do they look more like you’d want to hang your head in shame? The photo on the right is a real marketing photo. Too bad the seller wasn’t trying to sell the pool table. Have you got a ‘for sale’ sign in your yard? Are you marketing online too?  Remember only spies get paid to sell secrets.

4. Bad location: Ok, so your place is on a really busy road and near a busy truck stop. This is where the right pricing and targeted presentation comes in to play. Investors, developers and even small business owners can often see better value in these kinds of properties. So work closely with your agent on this one to get your marketing right.

5. Some (or several) of the property’s features are obsolete: Buying a piece of history only has so much appeal. When buyers want a period property they mean colour, architecture and finish. Not a lack of plumbing, electricity or outdoor toilets. Subtle reminders of the past are fine, few buyers want to relive it when they use the bathroom. You’ve got 2 choices: either adapt or price accordingly. Potential means little in this market.

6. Your home’s target market is too narrow: I remember once inspecting a home that would usually be describe as a small sized, lifestyle acreage. I thought the house was pretty good even if it looked like the owners had moved out already. But I jsut couldn’t get past the fact the grounds were devoted exclusively to horses, not people. To change that would have meant more cost and considerable hassle after the purchase. That property was eventually withdrawn after several months. As a professional stager I would have urged the sellers to consider adapting the grounds somewhat, or seriously showcasing the home’s other features, as a way of taking the emphasis off such a horse orientated property. This would have gone some way to broadening the appeal to a wider market. I would urge the sellers to be flexible about offers too when your buyer pool is so shallow.

7. No one’s buying in this area: I have a relative in this situation right now. He has a 3 bedroom older style home in very neat condition, on a 1.5 acre block. But, it’s in a country town 2 hours from major services and unemployment is high. I’d suggest here that the value of this kind of property has likely been overestimated and whilst there has been an increase in the property’s value in the years since it was purchased, it does not happen at the same rate as its suburban and city cousins. In this instance buyer options are few with younger buyers unable to live so far out of town and retirees more likely to find maintainance an issue. Unbeatable pricing and savvy marketing from an experienced agent are key.

8. Market forces: Disasters, natural and manmade effect people’s buying habits. And not just on a small scale. Here in Australia many states have been decimated by floods, drought and bushfires. Even elections leave people feeling cautious. Take the time to really look at if/why this is a factor in your local market. Get good solid advice from experienced selling agents, financial advisors and so on. Don’t rush into such a big decision if you can avoid it.