How does someone sell a slow mover?

Regardless of how the current property market is performing, the sale of your house is really dependant on two factors. The price (sale price) of your property and its condition are the most important factors in determining how a home is likely to sale i.e. will it be snapped up like a loose ten dollar on the side walk or will it stay single, un touched and on the market for a prolonged period.

The nightmare scenario for a home seller is that their property stays on the market for too long. This prolonged stay can affect lots of other things and have a knock on effect, especially if you are looking to move to a new home. So what should you do if that situation arises and your property moves like a leper on the housing market?

The first thing that you should do is not panic. Easier said than done, but staying focused is the key. Discuss with your realtor what the likely reasons are for the house not generating much interest. It maybe something simple like lack of advertising, or maybe you need to look at the price and or the condition of the house. If its advertising that is the problem then look at holding an open house, or publicize the property in more multiple listings or real estate papers.

An advertising problem can be cured easily, however if your house is moving slackly because the price is wrong then that is a whole new ballpark. Any house on the market, regardless of how good you think it is, should always have a comparable market value attached to it. No matter how great the house is, if the same house next door is $30,000 cheaper then the chances of your house selling are slim.

If you have not already done so then you should, with the aid of a realtor or broker, compile a comparative market analysis, to decide how your home compares to others that are similar to it on the market. If you find that your house price is set way to high then reduce it, if you think its fine then you maybe able to tempt buyers by offering to pay for things like broker and agent fees.

Finally if you house is not selling because it needs repairs then you should think about either dropping the price or carrying out some of the repairs. If the market is flat then this maybe the only way to move your house.

To discuss this topic Click Here to go to our Online Forum