Has your property been on the market for more than 4 weeks? Chances are, there's a reason (or multiple reasons) buyers are avoiding your listing.
To get the best price for your home, you want to make it as welcoming as possible to generate interest and encourage buyers to make a bid early on to help drive up the price.
However, if for some reason they’re afraid to take that step, you run the risk of missing out on someone who may be willing to pay more.
It's October, so in the spirit of Halloween, here are five reasons buyers might be ghosting your listing!
Poor Presentation at Open Homes
When you are inviting people into your home for an inspection, there are a few things that can spook potential buyers.
Prior to the first home open, it is essential to make sure there are no skeletons in the closets or cobwebs in the corners.
When presenting your home, it’s important to strike a balance between being overly personal and a blank canvas. Stick to warm, neutral tones for living areas and, where possible, minimise personal items on show.
Removing family photos and personal items will encourage buyers to imagine themselves living in the property, and sends a subliminal message that you are ready to sell!
Lack of Maintenance
Nothing makes a potential buyer's blood freeze more than the knowledge they will have a million little things to fix once they've purchased the property.
Tarnished doorknobs, dislodged light fixtures, dusty ceiling fans or an overgrown garden may seem like small issues, but they will create an overall sense of disrepair in your property.
You want your home to feel like a welcoming space, not a haunted house. So, spend some time preparing your home and attending to all of those minor ‘fix it’ jobs you’ve been putting off.
A fresh coat of paint and some minor repairs can go a long way, and they are well worth the effort as it could mean the difference between selling your home quickly or having it sit on the market forever!
The Pushy Agent
An overzealous agent gives people goosebumps…
Buying a home is a big deal for most people, and no one wants to feel forced or pressured into a decision about purchasing a property. While you want your agent to be proactive in getting offers, an overbearing and pushy selling manner will usually end up being counter-productive when it comes to selling your home.
You want to work with someone who is friendly and engaging - who will create healthy relationships with people and negotiate well on your behalf to get you the result you deserve.
The Overpriced Property
The tough market in Australia can unfortunately tempt sellers to price their home too high, resulting in home opens where buyers are few and far between.
When this happens, the property can experience an extended period of sitting stale on the market, and this prolonged time can deter buyers as they worry something is wrong.
It’s a great idea to research the market thoroughly, speak to your agent to get their advice, and find a suitable price that buyers will be accepting of.
The Wrong Sales Method
Your home is one thing, but the method in which you sell is quite another. Generally, agents will suggest selling either at auction or via private treaty/sale, but these have their limitations.
Unfortunately, auctions can be a fear-inducing process for many buyers due to the public pressure which can dissuade some from participating. Additionally, some of the strict terms and conditions can exclude some buyers, which ultimately reduces competition and the best change of realising a great price.
Private treaty/sale is equally as scary because this method keeps buyers under a cloak of shadows as the negotiation process happens. With no deadline, no clarity on price and the natural distrust from buyers, it’s no surprise why this method goes hand-in-hand with uncertainty.
So, how do we clear the cobwebs and welcome buyers by making them feel more at ease? Take away the unknown and provide more transparency for both them and you!
Removing your Buyers’ Fears
Just the thought of dealing with even one of the above 5 points is enough to scare some buyers away.
However, a buyer’s greatest fear is missing out on the property they love, and they often miss out because the price is either inflated or completely unknown. Introducing transparency encourages more participation in the selling of your home, and with more buyers comes a greater competition which drives the price up.
How do you introduce this level of transparency? Through a process called Openn that has proven to deliver better results in less time.
Openn Doesn’t Scare Off Your Buyers
Transparent and fair, when you sell your property through Openn, it means you've got the best chance of finding the best price in the shortest time frame.
Designed to encourage fair buyer competition, you will be able to see competing bids and watch the process in real time, with the seller in complete control.
Under traditional sales methods, overpricing can scare potential buyers off. Using Openn, buyers can start from a lower price (often well below their best) and compete from there, meaning there is less hesitation to start bidding.
By showing everyone's bids, all buyers know what price they need to beat. After a successful sale, the buyers who missed out know it's only because the property went beyond a price they could afford, and not because they didn’t have the opportunity to offer more.
Want to learn more? To hear real sellers and buyers share their experiences using Openn, head here.