Not being able to sell or rent your property is one of those things that will make anyone frustrated and angry. There might be plenty of reasons why you can’t sell or rent your property. One of the most common ones is the market is going through a dry spell.
Then there is your real estate agent that might not be good at their job as you once thought. Aside from a slow market and an underachieving real estate agent, there might be some other factors. Here are some of the more significant factors that can influence why people avoid buying or renting a real estate property.
Your asking price is too high
Sometimes the market is slow, but sometimes it is your fault – your asking price is unrealistically high. That is why you need to do your research before attaching a price to your real estate. Just see the asking price for similar properties within your neighborhood, their current condition, and listen to what your real estate agent is advising you.
Your real estate is not marketed well enough
Even though it is pretty tempting to leave all the promotion and marketing efforts to your real estate agent, often that doesn’t deliver any results. There are things you can do on your own and won’t cost you too much. For example, you can create promotional flyers, shoot a video of your property, promote on social media, and so on.
Your community has a bad reputation
For example, there were some robberies within your neighborhood and because of that people think the area is unsafe. It doesn’t matter if your community has a crime rate that is within the state average. If people believe that your real estate is in a crime infested neighborhood, then you got a severe problem on your hands.
The pictures of your property are not up to scratch
Your real estate might be in top condition, but that won’t matter much if people can’t see it in its best. Bad or mediocre pictures can be the reason why no one is interested in your real estate. Remember, we live in an age when online photos are everything. Therefore, step-up with your visual presentation or don’t expect anyone soon calling you about your property.
Buyer’s do not realize your property’s full potential
If there is something that can add value to your property, make sure that the potential buyers are aware of that. For example, you have permission for a loft conversion, but that’s on hold and the plan for it sits in a drawer.
On the other hand, if you want to rent the property, make sure that you include all the amenities and cool places that are in its proximity. For example, if you are looking to rent your property to a family, make sure to point out the nearest school, park, restaurants, and so on.
Ensure that your real estate agent also covers these topics as well.