We were recently asked the following question by one of our clients:
We’re trying to sell our house in the outer suburbs of Melbourne but we’re not having much luck. It was passed in for auction. It’s been listed for sale for a couple weeks, but we’re not even getting people come and look. We want to sell so we can downsize and buy an investment property. What should we do?
Here’s our answer:
We’re constantly being told that the property market is hot, hot, hot. Even so, while sales figures may be very high in Melbourne, the success rates are not 100%, and they vary from area to area.
Here are some questions you might answer:
Are your price expectations realistic?
Have you objectively assessed your property against similar in the area? Consider getting a valuation, if you’re not sure.
Is your property presenting well?
Do you need to make changes to the property before selling? Does it need a renovation? Some minor presentation tweaks? What does your agent recommend?
Do you have the right agent?
Do you trust that your agent has worked diligently and intelligently on your behalf? If you are changing agent (for example, at the end of your exclusive period), consider removing your property from the market for a couple weeks then re-launching with your new agent.