Selling a home can be a stressful and frustrating experience, especially when it lingers on the market without attracting offers. According to Antonie Goosen, principal and founder of Meridian Realty, several key factors could be preventing your home from selling.
READ: Property price: Why not to overprice when selling
"Many sellers assume that listing a property is enough to secure a sale, but the reality is that today’s buyers are informed and have multiple options available to them. "If your home has been sitting on the market for a while without much interest, it’s time to assess what might be going wrong."
One of the most common reasons a house doesn’t sell is overpricing. Buyers today are savvy and conduct extensive research before making an offer. If a home is priced too high compared to similar properties in the area, it will simply be overlooked. Goosen explains that sellers need to be realistic about their asking price and consider market trends, comparable sales, and expert advice from a knowledgeable estate agent.
Another factor that can deter buyers is poor presentation. First impressions matter, and a cluttered, outdated, or poorly maintained home can be a major turnoff. "A well-staged home that is clean, bright, and inviting will always generate more interest than one that looks neglected or too personalised. Simple changes like fresh paint, fixing minor repairs, and decluttering can make a significant difference in attracting potential buyers".
READ: The importance of an accurate valuation when selling your home
In some cases, ineffective marketing may be the issue. If a property isn’t being marketed properly, it won’t reach the right audience. "A strong online presence is critical," says Goosen. "Professional photos, virtual tours, and a well-crafted listing description can make all the difference in capturing buyer interest." Estate agents who use social media, property portals, and targeted advertising can ensure a property reaches as many potential buyers as possible.
Market conditions also play a crucial role in how quickly a home sells. In a buyer’s market, where there are more homes for sale than buyers, sellers may need to adjust their expectations. "Economic factors, interest rates, and seasonal trends can all influence demand," says Goosen. "If there is an oversupply of homes, sellers may have to be more flexible with their pricing or offer incentives to attract offers."
READ: 3 reassuring truths every first-time home seller should know
For some homes, location can be a challenge. Properties in areas with high crime rates, poor infrastructure, or limited amenities may struggle to attract buyers. "If your property is in a less desirable location, you may need to adjust your price accordingly or highlight unique selling points," Goosen advises. Sometimes, small upgrades or renovations that enhance security, energy efficiency, or curb appeal can help make a property more attractive despite its location.
Another reason a house may struggle to sell is limited viewing access. Buyers need to be able to view the home easily, and if sellers restrict viewing times too much, they could be missing out on serious buyers. "Flexibility is key," says Goosen. "The more accessible a home is to potential buyers, the higher the chances of securing a sale."
To improve your chances of selling, Goosen recommends working with an experienced estate agent who understands market trends and can position your property effectively. "Selling a home requires a strategic approach. Pricing it correctly, presenting it well, and ensuring maximum exposure are all essential for success," he says.
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Here is a look back at the role of a real estate agent and what you need to know
According to the Seeff Property Group, (The role of a real estate agent : What you need to know) agents do not only sell or rent property on behalf of their clients, but also have their ear to the ground in terms of what current property values are, how much properties might sell for, and what is happening in the property market.
With so many newcomers to the market, often making lofty promises of high prices and quick sales, it is easy for sellers to get caught up in the hype. A property which simply sits on the market with no or low offers can be very frustrating for buyers.
The role of a good agent in getting your property sold as fast as possible, and for the best possible price cannot be overstated, says Samuel Seeff, chairman of Seeff. A bad agent could leave you with a lengthy and frustrating sale process.
Regardless of when you are selling, it is important to ensure you choose the right agent for your property and market. If you are not aware of who the best agents in your area are, ask around for recommendations from neighbours or friends.
Always meet the agents in person before appointing them:
This will give you a chance to ask questions and assess the agents. Check how long they have operated in the area. Each area is different and local expertise is a vital point of advantage for any seller.
Look for a successful sales track record:
Ask for a list of their recent sales in the area, how long it took to sell, and the prices achieved. A strong sales record is an important indicator of the likelihood of success and that the agent could find the right buyer for the property.
A strong brand and network is another advantage:
An established brand will have a strong online presence for maximum exposure of your property backed by the latest technology and marketing and sales methodologies. They will use best practice to market and sell your property.
Look for someone who will assist every step of the way:
Selling a property is a complex process with many legalities to be taken care of. A good agent will explain the process and guide the seller to ensure they have all the necessary documents and maintenance done for an efficient selling process.
Choosing the right agent to sell your home cannot be over-emphasised, especially if you are selling right now as you will not want to waste time, says Seeff. Choose the right agent and ensure you follow their advice.
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