Selling your property shouldn’t be too hard, right? Still there are sellers that put in a lot of effort in selling their properties but still wake up every morning to see the For Sale board firmly planted on your lawn? The following 10 reasons might make out part of the problem:
1. The Price is the Problem
Unrealistic expectations are a seller’s biggest enemy, which is why over priced property is the most common reason why a property doesn’t sell. Make sure you price is in line with similar properties on the market.
2. The Location is Wrong
We all know how important location is when you buy property. Unfortunately, as a seller, there is little that you can do to rectify this other than focusing on getting the price right and a buyer might just see past the doubtful location.
3. The Agent is Failing You
Finding the right estate agent is very important, as an incompetent agent might be the reason why your property is not selling. Make sure you choose an agent with a good reputation and a proven track record.
4. Your Property Doesn’t Show Well
Ideally you should try to make small amendments in your house, even if it is just replacing a light bulb. Present your property as an empty canvas and buyers will be able to see your home as theirs. Remember that buyers will turn away if they find out you are trying to hide problem areas, so ensure that your house is in a good condition when potential buyers step through your door.
5. Your Timing is Out
There are certain times when property sales drops. These periods include winter months and school holidays. Try to wait a while before you through in the towel.
6. The Competition is Too Much
Be prepared to battle with competition especially when market condition favor buyers. This will mean that there will be more sellers than buyers and excess supply will result in lower prices. In times like these you will experience a lot of competition.
7. Your Marketing is Insufficient
Selling a home does not include sitting around and waiting for buyers to walk through your door. Your agent needs to advertise your property and On Show dates in newspapers, via brochure distribution, on the Internet etc. Ensure that you use good quality photographs in all your ads.
8. The Economy Is Not In Your Favor
Tough economical conditions are a major cause of the collapses of property markets around the world. In these times people normally hold on to their money because times are very uncertain.
9. Strict Lending Criteria is Getting in Your Way
Banks may enforce strict lending criteria during tough economical times, meaning declined home loans will increase. This will certainly hamper property sales.
10. You Are the Problem
As the seller, you have to be able to take constructive criticism from you agent as well as buyers and you need to be flexible in negotiating a price. Having a house on the market also means that buyers can come at any time to view your property so be prepared to receive potential buyers at any given time.
Author Resource:
Elizabeth works for an online property portal called SAHometraders, advertising property for sale in all areas of South Africa including Cape Agulhas. Visit http://www.realty1capeagulhas.com for more information.
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