What to do if your property doesn’t sell

Font Size:

Downsizing is a popular option for releasing some of the equity that is tied up in your home, but the past 12 months has seen a decided downturn in the property market, and many vendors are finding it difficult to get the price that they want for their properties.

A lack of interest does not mean that your property will not sell, but it may signal that you need to adjust your expectations and approach.

If your property has been on the market for too long, here are some things to consider.

Revisit your advertising
You only have a few seconds to grab the attention of a potential buyer, especially if they are looking online or on their smartphone. So, the more eye-catching your advertisement is, the better. When you look at the ad for your property, how does it compare with the surrounding advertisements? Does it look dull or lifeless? If so, consider taking new photos and creating a new advertisement. You may also want to consider advertising in different media, using either online or print advertising or both, and by distributing flyers and placing signage on your property.

Review your pricing
If your property is priced too high, this can be the key reason for the lack of buyer interest. Researching and comparing other properties will help determine whether your asking price is in line with the rest of the market. Just make sure that you are comparing similar properties as close to your location as possible to ensure your pricing remains realistic.

Postpone the sale
This option isn’t available to everyone, depending on your circumstances, but it is possible that you have entered the market at a bad time. It certainly isn’t the heady property market we remember from just a couple of years ago anymore. The longer you keep your property on the market, the more likely buyers will question why it hasn’t sold. This can lead them to steer clear of the property or start with a lower negotiating price. If possible, in your circumstances it is better to take the property off the market for a few months and try your luck with a bunch of new buyers down the track.

Give your property a makeover
I made the mistake once of trying to sell a property that was completely empty, as we had already moved into our new home. The agent asked right at the start if we wanted to hire furniture for the vacant property, but I thought it seemed like a needless added expense. The property passed in at auction and the agent again suggested furnishing the property. This time I listened. We stumped up the money for a furnishing company and the place looked absolutely fantastic. I couldn’t believe the difference it made, both in advertising materials and in person, and the property sold in no time.

Have you got any tips on selling a home?

Join YourLifeChoices today
and get this free eBook!

By joining YourLifeChoices you consent that you have read and agree to our Terms & Conditions and Privacy Policy


Is the ‘tree-change’ retirement option back in vogue?

There has been a surge in demand for properties located in ‘lifestyle' regions.

How to minimise the tax load on beneficiaries

Noel Whittaker tells Jane how to organise her assets to minimise taxes on her death.

Brian is planning ahead to limit issues after his death

Brian has Powers of Attorney and pre-paid funerals on his mind.

Written by Ben


Total Comments: 0



    continue reading


    Mozzies biting? Here's how to choose a repellent - and how to use it

    Mozzies biting? Here's how to choose a repellent (and how to use it for the best protection) Shutterstock Cameron Webb,...


    Sir Bob Geldof on grief, fame and getting through it all

    I've hardly started questioning Sir Bob Geldof before he is off on a long, sweary rant about everything he thinks...


    Abandon Australia Day and choose the history we want to celebrate?

    Australia Day is the anniversary of the arrival of the First Fleet in Australia. On 26 January 1788, 11 convict...


    Speaking up for the disappearing art of listening

    Columnist Peter Leith is 91 and describes himself as "half-deaf and half-blind". But he sees and hears a lot and...


    Hyperpigmentation: How to tackle those tricky dark patches on your ski

    There are plenty of great things about summer - sunshine, picnics and fruity cocktails immediately spring to mind - but...


    Enthralling, dystopian, sublime: NGV Triennial has a huge 'wow' factor

    Refik Anadol: Quantum memories 2020 (render) custom software, quantum computing, generative algorithm with artificial intelligence (AI), real time digital animation...


    Where to eat, drink and play on Kangaroo Island

    Australia's third largest island is an oasis of pristine wilderness, premium produce and hidden secrets ripe for discovery. Easily accessible...


    Will you need a vaccination to visit Australian venues?

    State premiers have suggested that once vaccinations begin in Australia, those without vaccinations may be banned from visiting some venues...