Are you trying to sell your property but not getting the interest levels you hoped for? Are viewing numbers down? When you first launched, did you expect a surge of interest but were instead met with silence? If you’re unsure whether your property is overpriced or if it’s just the current market conditions, keep reading.

Why Isn’t Your Property Selling?

Selling your home is a significant decision, often after months of consideration and research. So, it can be incredibly disheartening to finally take the plunge, only to see little to no interest.

When a property is first launched, it’s promoted heavily through alerts, mailouts, and matches to potential buyers. This initial push is typically the busiest time, so it can be disappointing when all that promotion leads to no viewings.

You might wonder, “Surely there’s someone out there looking for a home like mine?” While agents and property websites are getting your property in front of potential buyers, the issue is often closer to home, quite literally.

Could It Be the Price?

If there’s little to no interest from the initial launch, it’s often due to an overestimated asking price. This issue usually goes back to the initial valuation before you even chose your agent.

Overvaluing properties is surprisingly common, and it’s not always a deliberate act of deception. Here’s why it happens:

• Competition Between Agents – When you invite multiple agents to value your home, they’re competing for your business. Some may quote a higher price to win your listing, knowing full well that they can suggest a price reduction later. Unfortunately, this tactic can lead to your property staying on the market longer, often resulting in a lower final sale price.
• Flattery – It’s never easy for an agent to suggest a price lower than what a homeowner expects. Some agents might try to soften the blow by giving an optimistic valuation. While this may feel good initially, it doesn’t help when it comes to actually selling.
• Optimism from Sellers – It’s natural to want the best possible price for your property. If you receive a range of valuations, the temptation is to list at the highest figure quoted. However, this price is often at the very top end of your property’s value range, and the market may not support it.
• Changing Market Conditions – Between your valuation and the launch date, the market may have shifted. Economic factors, seasonal trends, or local market changes can all impact buyer demand and price expectations.

What Should You Do Next?

If your property isn’t getting the attention you expected, it might be time to reassess your pricing strategy. Consider the feedback from the market so far, this is valuable information that can guide your next steps.

A price adjustment doesn’t necessarily mean undervaluing your home; it’s about finding the right price point to attract serious buyers. By relaunching your property with a new strategy, you can generate renewed interest and improve your chances of a successful sale.

Need Help Figuring It Out?

If you’re unsure why your property isn’t selling, we’re here to help. At Fisher and Partners, our experienced managing partners specialise in your local market and can provide a no-obligation assessment of your current strategy. We’ll help you get to the bottom of the issue and offer tailored advice to maximise your property’s value.

If you’re looking to sell your property, we’d be delighted to give you a free market appraisal. Contact your local managing partner, and we’ll set up a time to chat. We’d be delighted to hear from you.