What To Do When Your Home or Commercial Property Isn’t Selling
Let’s face it, watching your home or other property sit idle on the market with no one making a move on it can be frustrating.
Let’s face it, watching your home or other property sit idle on the market with no one making a move on it can be frustrating. It’s even more discouraging when there are plenty of buyer previews yet no one dares to make an offer.
Does that mean your property is cursed? Certainly NO. Truth is, selling any property requires that you make good preparations. It’s estimated that 20-30% of listed properties hardly get a buyer and there are several reasons for this.
However, in many places around the world, property markets continue to be healthy, promising, and rewarding. What this means is that there’s a buyer or several who would never hesitate to buy your property.
So, if your property is not getting any interested buyers and you are on the verge of losing hope, we have a number of options that might just be your ticket out of this quagmire.
But before we expose them to you, it’s also important that you are aware of some of the reasons why a home or other property isn’t selling. They include:
- Poor state of a property
- Ineffective advertising Campaign
- Improper Selling Agent(s)
- Poor price strategy
- Not paying attention to the market
Adjust the Condition of Your Property
First, analyze your competition. Look at the homes that are selling and those that aren’t. Use the information gathered to evaluate the state of your property.
If, say, only 15% of the existing properties are selling, then adjust your property to outmatch or compete with the 15%. The structural layout, interior design, and other aspects of your property should be considered. Also, find out about buyer preferences by analyzing the sold-out or pending sales properties.
Many people make the mistake of investing in a new bathroom or kitchen, but sometimes you may never get a return from it. That’s why it’s important to compare your property to the bestselling ones before making any adjustment.
If you can outshine the 85% plus a decent portion of the 15% left, your chances of selling the property will be higher.
