It is a very exciting time when you start planning to move to your next dream home. Selling your home, however, requires patience at the best of times.
So your agent has you listed on the internet, you have had a few show houses, you have started looking at other properties, your bags are nearly packed in anticipation, then why has your property not sold yet?
If your property is priced right it should sell within the first four months. If you haven’t reached the four month mark yet, wait it out a bit longer. Keep in mind that a property in the R1m’s will sell faster than one at R4/5m’s as the buyer’s pool is much smaller in the higher price bracket. Do you have any specific features that only a certain type of buyer will find attractive? Has your agent disappeared off the face of the earth?
If your property has been on the market for over four months, consider the following:
1) Honestly, is your property priced right?
If buyer’s who view your property comment on the price in a manner that it seems to offend them, you are priced too high.
Solution: Drop the price.
2) Do you have any specific features that will only appeal to the few and not the masses?
Have you converted your garage to suit your ‘work from home’ lifestyle and are using a makeshift carport for your vehicles? Some buyers would rather have the garage. Do you have one or more cottages that bring in additional income? Some buyers may have no use for this and may find it a waste of space.
Solution: Either wait much longer for that ideal buyer or drop the price.
3) Has your agent lost interest and you’ve not heard from them in a while?
Once your mandate expires, usually after three months, you may consider opening up to many agents with the thinking that they’ll bring in more results. Stop right there! Do you think that hiring new agents who each are not guaranteed any remuneration from you, will give you the service you’re looking for?
Solution: Give another agent a second sole mandate.
Good luck with the sale of your home and remember to hang tight, you’ll soon be in your new dream home.