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4 key reasons why your home isn’t selling?

Wayne Morgan Posted on 04 Feb 2020

So your property has been on the market for a while, all the media you’re reading is saying properties are being snapped up left, right and centre, so why isn’t your place selling?  This is a common question but the answers aren’t that much of a mystery.  

 

Here’s a look at four of the most common reasons why properties don’t sell. 

 

You haven’t priced your home to sell?

Your home is probably your most valuable

asset, so making the most out of the sale

is paramount to you.  But to sell your

home in a reasonable time frame, the

price must be right, it must reflect what

the market is prepared to pay for it.  

To work out how to

price your property

consider the

following...

 

Your initial appraisal

At the beginning of your campaign your agent would have appraised your property.

To get to this figure they would have conducted a comparative market analysis and looked at similar properties that have sold within the last 90 days.  They would have considered current competition, wider market trends and your properties structure and conditions to arrive at a value that they believe you could achieve if you sold your property at that point in time.

 

Buyers sentiment

Understanding buyer sentiment is important when setting your price.  Talk to your agent and see if there are any passionate buyers, what does the agent think they would be willing to spend, what is the general feeling at the open homes?

 

Advice from your agent

Your agent is at the coal face of your marketing campaign, they are hosting open homes, fielding calls, sending contracts, following up attendees after inspections.  They know how much interest there is in your property plus any positive or negative feedback.  They know what the market is thinking about your property and are an important resource to tap into when setting your reserve.

 

Any offers and market feedback

It is important not to get sentimental about your property and set an unrealistic reserve.  It is very important to talk to your agent, to review any offers and listen to market feedback from your agent.  

Over the course of a sales campaign, even a 3-4 auction campaign, the property market can fluctuate and it’s important to factor these changes in when setting your price.  You want to be “in the market” not “on the market”.  Consider carefully are you prepared to sell for what the market is prepared to pay?

 

To learn more about pricing your property click here

A bad first impression

 

You only get once chance to make a first

impression so you want to make a good

one.  With competition high in the market,

to help make your property stand out

from the crowd, and attract more buyers

you need to spend time styling your

property to sell.

Property styling isn’t as hard as you think.

It’s all about employing design and

presentation techniques to create a visual

marketing tool that will increase the

potential of your home attracting the

most amount of buyers and ultimately

a quicker and more lucrative sale.

A survey of LJ Hooker agents

found that:

98% of agents believe that styling your

property to sell can help achieve a higher

sales price.  

83% of our top agents believe styling can

add over 2.5% to your property’s sale

value.  So if you had a property worth

$600,000 that's an additional $15,000...alot

of money!

2% of our agents believe it helped

influence a quicker sale and 88% believed

it triggered multiple offers through private

treaty and more bidders on auction day.

 

Whilst you can employ an expert to help you style your property, not everyone has the budget so here is some practical advice to help you prepare 3 key areas of your property for sale. 

 

This means you can get crisp, clear, stunning imagery right through your photoset. A higher-quality set of photos is more likely to attract buyers and is a must when selling.

           

Poor photography of your property

Most people's first impression of your

home will not be up close and personal, it

will be through the photographs you

present in listings. To really put your home

a cut above the competition, it's vital to

capture your home's best side on film.

One of the easiest ways to get this done is

to hire a professional photographer to

really make your home look like a star.

This means you can get crisp, clear,

stunning imagery right through your

photoset. A higher-quality set of photos is

more likely to attract buyers and is a must

when selling.

To understand more about how to

achieve great property photos click here

                                                            

 

You haven't invested appropriately in marketing and advertising

 

Marketing your property is an essential

part of achieving a successful sale.  If your

property isn’t selling, have you spent

enough on the marketing plan to ensure

your property has had maximum

exposure in the market?  

So what should go into

your marketing plan?

 

 

 

 

Social Boost - This enables you to

promote your property on the LJ Hooker

custom built Facebook and Instagram

advertising platform.  This industry leading

platform ensures you reach the maximum

number of relevant buyers via these key

social channels.  With everyone on social

this is a must for all campaign.

 

Custom Property Webpages - enables

you to have a personalized website for

your property to ensure it stands out from

the crowd.

 

Real Estate portals - Advertise your

property on the key national and

international real estate portals such as

realestate.com.au, domain.com.au,

allhomes.com.au and ljhooker.com.au.

With 97% of active buyers looking at these

portals this is a must for all campaigns.

Professional photography of your

property - with the majority of buyers

seeing your property for the first time on

line, the best way to grab their attention is

with some great photos…..  Video’s also

work exceptionally well.

 

Professional copywriting - this helps to

engage buyers by highlighting the

property's key features.  This text along

with a floor plan will appear right across

your property marketing material so

getting it right is important.

 

Signboards - these are the cornerstone

of property marketing; they are your 24 x 7

sales person.  They enable you to

showcase the features of your property

and are one of the best ways to capture

local buyers who may not be actively

 

Newspaper advertising - Advertise your

property in local newspapers and in the

national newspaper lift outs - this is a

great way to reach both passive and

emotional buyers who may not be

actively looking but prepared to move if

the right property comes along….and that

could be yours.

 

Property brochures and drop cards -

these are a great take away at open for

inspections, to display in your agent’s

office window and as letter box drops

 

Agent database marketing - your agent

will also promote your property to their

database of active buyers in the local

market.
 

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