As a real estate agent, it’s likely that at some stage in your career you’ll have to handle a property that just won’t sell.
Buyers are cautious of old property listings that have been advertised for months on end without success. If you’re dealing with an unlucky listing, it might be time to give it an update.
To help you on your journey, we’ve provided 10 easy-to-follow tips and tricks to get that property off the market.
1. Styling – out with the old, in with the new
The way you present a property is crucial during the advertising and inspection process so make it count. If you’re dealing with an old property listing, consider re-evaluating the way it’s presented.
Restyling a home doesn’t have to be expensive and a few small changes could get the property off the market in no time. Whether it be a simple coat of paint, new artwork or even new curtains, it can all enhance the property’s appeal.
Consider removing any of the vendor’s personal items or photo frames. You want potential buyer’s to be able to envision their own lives in the home, so make it as easy as possible for them.
2. Change the photography to increase interest
There is little to no point in having a perfectly styled home or apartment if the photography doesn’t show it. Revaluate your current listing photos and ask yourself, do they show the property in the best possible light?
Before taking new photos, ensure the property is tidy and organised. Try to incorporate natural light where possible and take images from angles that accentuate the property’s best features.
These photos will be used to advertise the old property listing so consider whether they will be enticing to buyers. You can learn how to take real estate photos with your phone or, if you have the budget and aren’t confident with a camera, why not hire a professional photographer to get the job done? Just avoid these real estate photography mistakes.
You might want to consider using drones for your property listing. The video footage can really show off the home.
3. Improve the curb appeal of the old property listing
First impressions matter and the kerb appeal of a property can make or break it. If the old property listing doesn’t have enough curb appeal, buyers will simply move onto a more aesthetically pleasing option.
A good place to start is replacing or repairing anything that is damaged, worn out or harmful. This could be an old fence, a broken pavement in the pathway or damaged roof tiles.
Consider cleaning off any dirty surfaces such as the driveway and pathway. A pressure cleaner is a great way to do this.
The vendor should also tidy up the property’s landscape. They should remove any weeds and mow the front lawn. If the old property listing is still missing that pizazz, plant colourful, low-maintenance flowers to brighten the place up.
4. Be open and honest with the vendor
You want the property to sell as much as the vendor does.
It’s important to be as open and transparent as possible when an old property listing just isn’t working.
By clearly communicating the situation, your client will understand that changes need to be made and that there may be additional steps you will both need to take in order to make it sell.
5. Expand the price guide
While the vendor may initially be reluctant to do so, expanding the price guide can attract a larger group of potential buyers. This is especially important online, where set pricing filters can hide your listing from users.
Expanding the old property listing’s price guide doesn’t necessarily mean reducing the sale price. It just means that you’re allowing the property to be viewed by as many people as possible.
Your questions answered:
- How long is too long to have a property on the market?
- What is the best way to style a house for sale?
- What are the best digital tools to help boost sales?
6. Consider taking a break and removing the listing down
As mentioned, buyers are cautious of an old property listing that has been left vacant for an extended period of time. Often, they’ll make a mental note of it and suspect there is something wrong with the property.
To avoid this happening, take the listing down and remove it from any websites it’s advertised on. Taking a break doesn’t necessarily mean the property won’t sell.
Instead, it allows you the opportunity to reassess the listing and your selling strategy while ensuring potential buyers don’t blacklist the property.
7. Look at the competition
It’s important to do market research and assess similar properties on the market. Compare them to your old property listing and look for improvements. This will offer insight into property presentation, pricing, description and marketing styles.
8. Ask for feedback
There’s no harm in asking for advice from a fellow colleague or even discussing the listing with the vendor. They may have valuable feedback that can help you sell the property sooner.
9. Repost the listing when the time it right
If you decide to take an old property listing down and later on, want to repost it again, it’s important to time it right. It’s recommended to wait for at least 60 days before doing so to allow the algorithms to refresh and to attract a host of new potential buyers.
When reposting, be sure to include your new and improved photography and expanded price guide.
10. Keep positive
It can be quite defeating when an old property listing doesn’t budge but don’t blame yourself. There are a number of market and economic factors that come into play when selling property so stay positive and work hard.
