How do you move forward if your house won’t sell?

If your house has been on the market for months without any interest from prospective buyers, you’re no doubt feeling frustrated and stuck.

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Some advice from REIWA;

In order to move forward, you have two options. You can sit back and let the market run its course, or you can take initiative, be flexible and maybe help turn the tide in your favour.

Reassess the price

The most common reason a house will languish on the market is incorrect pricing. It’s imperative that your home is realistically priced – particularly in a market where there is more stock than demand.

Speak with your REIWA agent about the pricing of your home and whether it’s accurately set. It’s also a good idea to look at homes similar to yours in your area and see what they are listed for. If your home is noticeably higher, it may be time to reconsider your listing price.

Be open to working with offers

It can be tempting to dismiss offers that are below expectation or dependent on a range of factors (like subject to sale), but it’s in your favour to be open to negotiation. There is still the option to walk away if you’re not comfortable with the offer after trying to reach a compromise, so it’s important to look at all offers as credible opportunities.

Ask your agent to go back to the buyer and see if they are willing to negotiate. It may be that you need to drop your asking price, but they may also be willing to improve their offer and meet you in the middle.

Spruce up your home’s look

You’d be surprised how much the look and appeal of your home counts when selling. Simple things like clutter and mess can detract from your home’s overall appeal and damage your efforts to sell.

Improving your interior with a spring clean, a few well-placed rugs, a fresh coat of paint or with some minor renovations like upgrading your fixtures and fittings can make a world of difference to buyers. First impressions count, so make sure your home makes the right one.

For more tips, watch our WA Weekender segment ‘How to enhance your home’s interior appeal’.

Take a breather from the market

Homes that stay on the market for months on end often carry the stigma that there might be something ‘wrong’ with them. If you’re in this position, consider taking your home off the market for a couple of months.

This may seem counter-productive, but in those couple of months a new cycle of buyers may have come through who are seeing your listing for the first time.

This down time also provides you with a great opportunity to fix up other elements of your home that may be working against you.

Ultimately, there is no guaranteed method for achieving a quick sale. If you are serious about selling, you need to be open to changing tactics if what you’re doing isn’t working.

No one wants their property to be on the market for months, especially if there’s no result after all that time.  Always looks for a track record of LOW DAYS ON MARKET and HIGH SALE PRICES when choosing your agent. Read more here.