You have put your house on the market but months later you still haven’t had any offers and you can’t figure out why it hasn’t sold. Don’t worry anymore,some real estate experts have  come up with the main reasons some properties languish on the market. Here are the reasons and how to solve them for better outcome.

Overpricing

The most obvious reason a house does not sell is because the price is too high .This can be caused by a lack of communication from the agent, a price guide being too high or sudden changes to the market such as elections, rate rises or changes to zoning.

Just because a similar home sold for a certain amount three months ago doesn’t mean that your house is worth the same. The market is constantly changing and three months is a quarter of a year. Especially in a falling market, most vendors and their agents reduce prices to meet the market too late and end up chasing the market down. This normally results in a lower sale price than a vendor who responds to the market.

Solution

Advertising the highest price in the area won’t necessarily attract the best buyer. But advertising a price guide with a lower scale will encourage more buyers and actually provide some competition between buyers when they all show up to an open house.

Noisy locations

Too much noise nearby will put off potential buyers.  A house situated on a train line or a major car thoroughfare with heavy traffic and a shopping strip can present a selling challenge as people have a preconceived idea that it will be noisy.

Solution

Install double-glazed windows and invest in thick, quality doors to block out the sound. This shows potential buyers when they come to visit the home that there is a long-term solution to manage the noise and that the home is in fact comfortable to live in.

Presentation

With the younger generation of buyers purchasing a bigger proportion of house properties each year, you need to tailor your sale to them. The internet is the biggest source of buyer inquiries but there is always a sea of properties online at any time so you must ensure yours stands out.

 Solution 

Where possible a coat of paint and a good clean always helps but also inquire into getting a stylist through to help you with your presentation or to fully furnish vacant properties to give it that wow factor.

Poor street appeal

Most buyers will do a drive-by past a home they are interested in before inspecting it. If your gardens are dry and unloved, weatherboards are rotting or front door is hanging off its hinges, most buyers will keep on driving and won’t bother to inspect the interior. First impressions last.

Solution

If you can’t do it yourself, hire a handyman to tidy the front of the property and the garden.

Building works in the neighborhood

Building works commencing in the street during the marketing campaign or neighbouring properties under construction will definitely put off buyers.

Solution

Do your research to find out what building works are coming up and when and try to time your sale to avoid the disruption.

Over supply

Too many similar properties for sale in the area will affect the speed of your sale, and may even affect the price when you do sell.

Solution

While this is beyond the control of home sellers, if you are in a position to hold off putting your property on the market until there is less competition, it is worth considering. Otherwise, speak to your agent about ways you can set your house apart from the pack.

Choice of agent

Sometimes it isn’t your home that is the problem. A good agent will give you a realistic price with comparable sales to back them up, handle all the marketing to ensure the property is presented in the best light and you should have a sale in a reasonable amount of time. A good agent will also build rapport with the buyers and know who the serious candidates are. However there are cheap agents out there and like everything in life, you get what you pay for.

Solution

When you are selecting your agent, don’t necessarily go for the cheapest or the most expensive, go for the best. The one who you feel will do the best thing by you.

Poor marketing

You need a strong marketing campaign to reach every potential buyer and achieve a successful sale. Don’t do your own marketing or settle for photos that portray your property in an unflattering way.

Solution

Make sure you have professional photographs taken of the property and a property video highlighting your house’s key selling points. Make sure your agent markets your home through all avenues. Use several marketing avenues from print to social media as well as the major real estate websites . With technology playing a major part in today’s society the biggest avenue would be social media.