Isn’t the No Agent property market like a bakery? There’s always a new batch coming in, some fresh out of the oven, while others, not so much. And then there are always a few that aren’t sold at the tail-end of the day. These are usually the sad bunch of the lot. And, in the case of bread, bakers find ingenious ways of selling an old batch before it turns stale.
How does your house for sale fare by comparison? If it’s on the Australian market for a while, then it’s safe to assume you’re having problems selling it. It’s frustrating when weeks drag by and there’s a point when a no agent property ends up as the oft-neglected entry on the listings. Being left out of a schoolyard pick is an unfortunate situation.
The first month is crucial for property listings, as this is where you’re able to guesstimate what works and what doesn’t. If you’re at your wits end trying to figure out how to revive a property’s appeal, these 6 tips will help.
Tip #1 Rethink the price point of your No Agent property
This is the one thing home sellers probably dread the most: knowing they’ve cracked the price point way out of the ball park. The sooner you realize you’ve gone overboard, the sooner your property is considered, viewed, even sold. Shifting your price point is a bit more involved, though, because you can’t adjust it at whim, or in reaction to market trends.
Once you realize that price is determined by the housing market (instead of your perceived value), then you’re off to a good start. You can adopt a proven strategy in pricing, selling your no agent property for $599,000 instead of $602,000, for example. The markdown is tolerable, and it looks like you’ve lopped off $100,000 from the asking price, at least at first sight.
Tip #2 Give your house for sale a facelift
Boost your no agent property’s appeal with a renovation, remodelling. This will cost you, but the investment will pay off. Don’t overdo it, though–focus on the essential renovations and makeovers, the ones that convince most prospects your for sale by owner house is a worthwhile investment.
Make sure your no agent property is structurally sound, with all the basic amenities covered for. The bathroom and kitchen are viewing hotspots. Invest in boosting the home’s curb appeal.
Tip #3 Withdraw your no agent property
It’s a bittersweet affair, but it must be done if your property has become that stubborn glitch on the listings. Buyers avoid old and persistent entries. They’re often justified to do so. Your luck wears off the longer you keep a real estate listing on the market. Withdrawing the listing for now just might be your best option.
Depending on market conditions, the prime shelf-life for a property listing is 90 days. After that, you won’t be able to find a homebuyer who would agree to your terms and price. Better withdraw for now and rethink your strategy. Wait for the market and buyer pool to refresh.
Tip #4 Wait for the right timing to sell your For Sale by Owner house
This is in case you’ve decided to withdraw the no agent property. It turns out the housing market has its peak and slack seasons. Those who bide their time maximize their chances of closing a sale.
The best seasons to sell are spring and summer. This is when everything is abloom and your property is cast in flattering light. On the flip side, consider selling on slack seasons of the year, when there are fewer properties on the market. This means less competition.
Tip #5: Listen to the For Sale by Owner market
Knowing what should be done is different from doing it. Unfortunately, this is one mistake many no agent property owners make. If it’s evident the market is stuck in a slump, consider a markdown in your asking price. If there’s a market boom, stay competitive. Invest in renovations.
It’s also important to sever sentimental ties with the property for sale. Buyers are turned off when there’s evidence of someone’s childhood etched on the walls and banisters. Your house must be a clean slate before prospects visit.
Tip #6: Stay positive to sell a house fast
Knowing your house isn’t selling is disappointing. If it’s any comfort, look at the other listings. Know you’re in good company. The key is to keep at it and hope. If you have to carve your asking price, then so be it. What matters is the property gets sold on terms you’re comfortable with.
Note the competition; anticipate market trends in the no agent property market. Strike while the iron is hot. You’re bound to snag prospects. It’s up to you if you’re going to withdraw or insist after the listing is past its shelf-life. Many factors are involved in property selling, but with a reasonable strategy, your persistence should pay off.
Like this post? Sell your For Sale by Owner house quickly with our other effective tips:
- 5 things you must tell potential buyers to earn their trust and close that sale!
- 5 mistakes you should avoid if you want to attract buyers
- Tips to help you sell to the younger generation: the millennials
- Learn how we can help you get your for sale by owner property noticed
- Find out just how much money we can save you when you work with us to sell a house fast