Why aren’t homes selling?

hand hold houseA common question we hear when talking to sellers whose Mudgee homes have been sitting on the property market for a long time is, “why isn’t my home selling?”

There could be a number of reasons why a property stays on the market for too long, but there are some common ones that we see a lot more than others. So if you’re selling your Mudgee home and are wondering why there’s no ‘sold’ sticker on the sign out the front, take a step back and ask yourself if it may be because of one or more of these reasons:

  1. Pricing – A very common reason for houses staying on the market is that they’ve been priced incorrectly for the current market. If the asking price of your property is set too high or too low then you’re probably missing out on a lot of potential buyers. Properties that are priced too high scare buyers away and properties that are priced too low leave buyers thinking that there may be something wrong with the property.
  1. Marketing – Apart from making sure your property is listed at the right price, it’s also important to make sure that it is being marketed properly; after all, how will your property sell if nobody knows it’s on the market? There are many ways that a property can be marketed – you can use signs, the internet, office displays, newspapers, or maybe a catalogue just as examples. Different marketing strategies will suit different types of properties, so if you don’t think that your property is being marketed adequately we urge you to speak to your real estate agent about your options.
  2. Presentation – Another reason why a property may not be selling is because it isn’t well-presented. If a buyer is comparing properties of a similar type and location, then they will most likely opt for the property that presents best and requires fewer improvements.  Some sellers chose to ignore this issue, thinking the improvements will cost too much time and money, but you’d be surprised how quickly a place can be spruced up by following some simple guidelines.

If you think that any of the above reasons could be affecting the sale of your Mudgee home, or if you would just like to have a chat about the Mudgee market, then please contact us at Professionals Mudgee Real Estate.  You’re also welcome to pop in and pick up our free Showtime Guide which features 101 ways to showcase your property.

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