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YOU’VE had it on the market for months but no one has made an offer yet.

You love your house but why doesn’t someone else?

Buyer’s agent Chris Gray, CEO of Empire, reveals the five reasons why your house hasn’t sold yet.

1. The house wasn’t priced correctly.

Mr Gray said people were emotionally attached to their own houses, especially if they’ve lived there for a long time. This often led them to think it was worth more than it was.

‘You need to take a step back, look at it unemotionally and get the opinions of independent experts in order to know its true value and set a realistic price,” he said.

2. You hired the cheapest agent.

‘The agent that charges the cheapest commission can be the most expensive agent in the long run,” Mr Gray warned.

He said they don’t always get you the highest price possible and sometimes can’t even close the sale.

‘Paying an extra $10,000 to $20,000 for the best agent gives you a better chance of a sale on auction day, and can often result in your house selling for $50,000 or even $100,000 more than what a cheaper agent could achieve.”

3. The house wasn’t presented in the best light.

Believe it or not, everyone doesn’t have the same taste as you in furniture and decorating.

‘If you’re moving out of the house you need to emotionally move out of the property at that instant – not after the property is sold,” Mr Gray said.

He advised sellers to take advice from their agent about what decorations to use and whether the home needs to be styled.

‘It could be a reason as small as this why your house didn’t sell,” he said.

4. No one knew it was for sale.

‘You can’t sell a secret,” Mr Gray said.

‘Many people think that by uploading their property onto a website that offers for sale by owner listings that their house will sell, however a lot of these sites have very little traffic.”

To maximise your chances of selling at the highest possible price, he said you need to try every marketing tool available; online, print, main listing websites, agent’s websites and social media.

5. You attended all the open for inspections.

‘Many homeowners want to keep across what the agent does and what the buyers are saying, so they attend every open for inspection and pretend not to be the owner,” Mr Gray said.

You are not fooling anyone.

Mr Gray said homeowners usually stood out and it could really put buyers off as they don’t feel comfortable speaking openly with the agent when the owners are there.


Posted by News Limited Network on 18th October, 2014