Has your property been on the market for a long time? 5 things you can do right now
Are you frustrated that your property has been on the market for too long? The good news is: you can do something about it!
Get into the buyer’s frame of mind
Firstly, it is important to understand the type of market you are dealing with. This will depend on the area and the price segment of your property. Ask your agent about the market in your area. What is the demand for properties in your price range compared to a year ago. Is demand on the rise or is it declining?
Get the facts
Get feedback from your agent about the specific issues raised by potential buyers in the past. One of the major issues may be the asking price, especially in ‘n buyers market. Ask him/her about the condition/price of other properties recently sold in your area.
Fix the problems
Once you know what the issues are, decide what you want to do about them. Ask your agent for suggestions. See this post about how to set the right asking price. Decide whether it makes sense for you to address any of the issues. If not, consider renting out your property or taking it off the market for the time being.
Get more exposure
Speak to your agent about ways to increase your property’s exposure. Especially online. Ask your agent about a joint marketing strategy. Good agents are prepared to go the extra mile with your help.
Spruce it up
Consider adding a few extras to make your property more appealing. Again, speak to your agent, he/she is in the best position to tell you what buyers want.