Selling a house isn’t always a smooth experience. Despite all the amazing work you put into making it look good, there’s still no guaranteed rule on how to sell a property.
Sometimes local conditions turn against you, and sometimes it’s tough just finding that ‘one’ buyer who wants what you’re offering.
You might be asking, what to do if a house won’t sell? Well, we’re here with some house selling tips that should help guide you through!
Step 1: Don’t Panic!
We think this is pretty a good place to start; you wouldn’t want to end up depressed, and giving up on ever selling off your property, right?
Remember: The law of attraction states that positive thoughts bring positive results. Basically, whatever you put out into the universe, you’re going to get back!
Sometimes selling a house takes longer than we thought, or than we want. But the undeniable reality is that people need places to live; it’s just finding the right person, with your house set to the right price.
So before you do anything else, stay calm, take a deep breath… and start believing that your house is about to be sold for a good price!
Step 2: Compare The Nearby Market
Taking a look at the market nearby (to see what’s selling and what’s not) might give you an indication of if your price is right, and what, if anything, is the difference between yours and nearby properties.
It can be frustrating seeing other properties selling if yours isn’t, but it can offer some valuable insight on why. On the other hand, you might find that other properties in the area aren’t selling either.
That’s perhaps a good indication that it’s not down to your property, and actually just market conditions are a little subdued for your property type and neighbourhood.
Step 3: Get A New Valuation
If you’ve taken a look at step 2 and already compared the nearby market, you might want to also consider requesting for a new valuation.
When we sell our homes, we often base our guide price on the initial valuation, but the market can sometimes move quickly.
For example, a large new housing development launching nearby, or maybe even national impacts such as a shift in interest rates, all of which are significant enough to impact buyer confidence.
There are a whole range of factors impacting prices in Malaysia’s property market, and valuers are best positioned to assess those.
Step 4: Open Up For More Viewings
Are you trying to schedule property viewings into a very narrow window during the day? That can put off some buyers, particularly those who work dedicated office hours!
Consider being a bit more flexible with your viewing times, and allowing visitors to visit a little later in the evening, or even on weekends when it’s easier for them without having to worry about traffic jams.
Remember that a property is a big-value purchase, so people want to see it in person and get a good feel of the surroundings before they make an offer!
Step 5: Boost Your Marketing!
You might not be trying to sell the latest smartphone, but house selling still needs good marketing. You could consider pushing your estate agent for a more complete marketing offer.
That might mean everything from more active engagement with adverts in local newspapers, a spotlight listing on PropertyGuru, and even things like virtual property tours to really let your home shine!
Good marketing is all about taking what you’ve got, and advertising the positives to build a bigger audience. And it doesn’t all have to be through your estate agent either.
Take the initiative and promote your house sale through friends and family, and via social platforms such as Facebook. After all, the more eyeballs on your property, the more interest you’ll get!
Step 6: Consider A More Suitable Agent
Some agents come recommended by friends and family, and others you find on your own. There’s also a difference between hiring a Real Estate Negotiator (REN) and a Real Estate Agent (REA)!
You see, there are those who have specific experience, skills, and connections in certain sectors, areas, and market segments.
All of the above could potentially be more suited to your property. So, make sure to always have an open and honest discussion with your current agent first.
They might be able to give you advice and support to sell your home, or advise you of market conditions that mean even if you do switch agents, your fortunes won’t change.
But, when it comes down to it, you really need the sale to go through! That means looking for recommendations of a more suitable agent with experience in your type of property and area, and what it takes to sell.
Step 7: Take It Off The Market
Some might call this a drastic last resort, but it’s not exactly an uncommon tactic in the property market.
If your house is just stubbornly refusing to sell, and you’ve already either undertaken or seriously considered the steps above, then perhaps it’s just time to take a pause.
Taking your house off the market could incur certain costs, particularly with your estate agent, so you should have an honest discussion with them about this.
However, removing that pressure to sell can allow you to refresh and rethink your strategy, hopefully while allowing market conditions to improve and giving you a better chance – once you’re ready to relaunch the property for sale, of course!
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