10 things to do when your property doesn’t sell

Published on December 7th, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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So, you’re planning on selling your house. You fix it up, you put it out on the market… and nothing happens. You’ve done everything you can, but it won’t sell and now it’s out of your hands, you think. But is it, really? Here are 10 things you can do when your property doesn’t sell.

Tweak your price

Your price expectations won’t always align with the reality of the current market. Don’t be too set on an ideal price because otherwise your house runs the risk of remaining unsold for a long time.

Try a new look

Make your first impression count! Presentation is everything when you’re selling a house, so make sure it looks good, clean, comfortable, that it smells nice, etc. Remember – your potential buyers are looking for a new home, so make it easy for them to imagine themselves in yours.

Ask for advice

Professional or amateur advice – it’s all welcome. Sometimes, you need a fresh pair of eyes or a new perspective when you are no longer able to be objective about what’s going right and what isn’t. Listen to what others tell you; they may be seeing something you don’t.

Step back

The longer your property is on the market, the less likely it is you’re going to sell it. Three months is generally the mark when you have to start thinking about making a tactical retreat. A house that’s been for sale for too long will seem like it has something wrong with it and will mostly get passed over. In addition, buyers may try to use that as leverage to get you to drop the price.

Don’t lose patience

Whenever you take on such an endeavour like selling a property, be prepared for it to be a long, difficult and time-consuming process. Don’t expect it to sell right away, because you will be disappointed. Be patient.

Try a new advertising angle

A lot of times, it’s not the house that’s wrong, it’s the way it’s marketed. Instead of a typical, boring ad, try introducing something new and fun. Attract buyers’ attention with photographs and beautiful backdrops.

Compare & contrast

Don’t get too caught up in your own way of doing things – take a look at other properties on the market and see how they are presenting themselves. You might get an idea or two, and it’s always good to scope out the competition.

Time for an upgrade

If your property isn’t attracting enough attention as it is, try tweaking some things, adding and updating others – a spruce or an upgrade always attracts more attention and drives the price up.

Enlist professional help

Don’t try to do it yourself; entrust your house to a capable realtor. They have the experience and the necessary knowledge to make the most of this transaction.

Spread the word

If what you’ve been doing isn’t working, try letting more people know about your property. Post it on every website you can think of, ask family and friends to tell people they know, etc. You never know where potential buyers may pop up from.

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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

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