Like standing in a queue, waiting for a tax refund, or going to the dentist, selling a house is one of those things that we want to get over with quickly and painlessly.
And profitably, too!
Whether you’re selling off a second property or trying to relocate, the next step is placed on hold until the sale is finalised.
So, what do you do when the days become weeks, and then months, without a sale?
Have a look at this list of five “P’s” on what you may be doing wrong, so you can reverse the go-slow:
House won’t sell because you’re PANICKING too early
Sometimes you might not be doing anything wrong!
Except being impatient!
The FNB House Price Index in the third quarter of 2016 said that on average, residential properties for sale in South Africa remained on the market for 14 weeks.
And, 55% of properties remained on the market for 3 months or more.
So, don’t get stressed in the first few days after listing!
Knowledge is power, so arm yourself with some research and find out how similar houses performed on the market in your area.
This will give you a realistic expectation of how long the marketing process will take.
While you wait, look at the next steps to speed up the process.
House won’t sell because you’re POSTING poor pictures on your listing
The first thing buyers in the digital age see is your gallery of listing photos.
Would a home interest you at first glance if it looked dingy, cramped and unattractive?
Of course not!
Don’t settle for anything but professional photos!
A good real estate agent will capture and present the best qualities of the house when taking and posting your pictures.
House won’t sell because you’re PRESENTING an unattractive home
The same goes for show days.
From the kerb, right through the outdoor space, and into each room of the house, you need to do your level best to present a beautiful home.
This process can sometimes start weeks or even months before actually listing your property!
Fix cracks, perform touch-ups and repairs wherever necessary, and do some basic landscaping in the garden area.
Even minor fixes can add up to a much quicker sale of your house.
House won’t sell because you’re PRICING it too high
Once again, you should compare your house with similar houses on the market in your area.
If you compare prices and find that your price is too high, this could be your problem!
It might be time to slash your asking price by between 5 and 10 percent.
It beats having your house go “stale” on the market.
You could go from getting no offers to many offers, leaving you holding all the cards once again.
House won’t sell because of the PEOPLE you are working with
Lastly, if you have been marketing privately, consider enlisting a good real estate agent.
If you have been using an agent, get a better one, or at least remove the sole mandate!
In the end, try to narrow it down to which of the above “P’s” needs work, and you will find the peace of a finalised sale of the house.