As estate agents, we understand the stress and frustration when your property sits on the market for longer than expected. This article will explore five of the most common reasons for delays and some tips on how to avoid them.

Overpricing Your Home

In Australia, overpricing is the top reason homes stay on the market for months, or even years, without selling. Modern home buyers use budget filters when they browse listings, meaning your property could be invisible to many.

However, it's also essential not to underprice your home as this could raise some red flags with buyers.

Tip: Use recent sold data and your estate agent’s knowledge to ensure your home is listed for a competitive yet realistic price.

Poorly Presented Listings 

Well-presented homes often sell 30–50% faster and command higher prices. A poorly presented or misleading online listing with subpar photography, no floor plans, and vague descriptions can significantly reduce buyer interest. 

Tip: Ask your estate agent about the options for investing in professional photography, staging, and marketing.

Weak Estate Agent Performance

Your chosen estate agent should be monitoring buyer feedback, consistently enhancing and adapting their marketing strategies, staying up to date with market trends and changes, and pushing for viewings from before the property is even listed.

Tip: Choose an estate agent with local knowledge and a great sales track record. After 8 weeks of no or low viewings, reassess your estate agent and be ready to switch if needed.

Legal Delays

Legal conveyancing, local council searches, and mortgage processing can drag on for weeks, and this is often outside of your control. In addition, onward chains add further uncertainty as the buyer is dependent on the sale of their property to complete the purchase of your property. 

Tip: Prepare any documents that you may need ahead of time, choose a proactive and dedicated solicitor, stay on top of chain delays, and consider cash buyers or those with no onward chain.

Challenging Property Type

Unusual or less desired properties like those in flood zones, those with complex layouts, or those with no parking space will naturally attract fewer buyers. Again, this is out of your control, but there are things you can do. 

Tip: Price the property according to its unusual or undesired features and highlight unique selling points. For example, if a ground floor apartment doesn’t have a view, boast about how spacious the terrace/garden is. 

Final Thoughts

With local pricing knowledge, well-presented online listings, and a great estate agent on your side, you can significantly shorten the time your property spends on the market and boost your outcome.

Interested in a free, local market-savvy valuation? Reach out to Lloyd Estate Agents. We can help streamline your sale and ensure you get the best possible results.