Why houses don't sell

Why do some homes linger on the market for months — or years — while others are snapped up in a matter of days?

By Peter McCormack

06-09-2016 | Why do some homes linger on the market for months — or years — while others are snapped up in a matter of days?



While much of it has to do with price and the local market, a whole host of factors can conspire to make a home sit and stagnate without inspections or offers.



The longer a house sits on the market, the more it gets stigmatised.



If you don’t want your home to be the house that wont sell, read on for the three most common listing no-nos.



1. A ‘what the heck are they thinking?’ price tag



Price is usually the overriding factor in any home that doesn’t sell. Whatever its problem, it can usually be rectified by adjusting the price.



It’s always price for condition or price for location.



Why are some homes priced so far above the pack? While many nostalgic sellers have unrealistic ideas about what their home can fetch, others simply can’t afford to take less because they need a certain price to be able to move on.



2. Present to live-in or present to win



When you are selling (whether you like it or not), you’re in a competition. Buyers will look at 10 to 20 homes and often narrow it down to 2 or 5 that really suits their needs. Now the question is, which one feels the best.



Create an emotional ‘wow’ and you significantly increase your chances of selling.



Clean windows, de-clutter and clean the carpets. Minimise the money you spend on the house and instead put that money into art, rugs, cushions and flowers.



A great tip is to get an objective eye to look over the property or at least, pretend you are a buyer and walk through your home from front to back.



3. Lets save some money on the marketing



In many price ranges there may only be 10 to 20 sales per month, but over 10x that number on the market. You need to make sure that your property is in the face of all buyers and screams out ‘look at me’.



When a buyer falls in love with a home they generally don’t keep looking at the rest of the houses on the market. You need to make sure that your home is high on a buyers inspection list so that they don’t buy one of your competition and never even look at yours.



Spending some extra money to aggressively advertise your home can not only get you sold, but also gain you thousands of dollars through potential competition.

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Selling