WHEN SELLERS ASK: WHY IS MY PROPERTY NOT SOLD YET?
The real estate market in Croatia is very active, real estate of all types and price classes is for sale. Both small and large, luxury apartments are bought, with or without a sea view, houses near the sea, as well as those in the inland, old stone houses, houses with swimming pools, building land… But regardless, some real estate are still difficult to sell. What are the most common reasons and what can be done?
1. Unrealistic price of real estate
Given the availability of information, today's buyer is very well informed and when looking for real estate he is searching for a fair and realistic market value of real estate. If your real estate is overpriced, the buyer will simply skip it and ignore it, whether he noticed it on the internet or was offered it to him in person.
2. Properties with challenging characteristics
There are simply types of real estate that are less in demand on the market. These are mostly houses with several residential units, i.e. houses with large square footage, houses with a small garden or no parking space, real estate along the main roads with a lot of noise, real estate in unpopular micro-locations. In addition to the location, the interior of the property may have its drawbacks, such as too little light, poor floor plan, small windows etc.
What to do in that case? We cannot change the location, but we can add details and try to highlight the specifics of such real estate or its potential. Major changes can also be made by decorating the interior, sometimes even by simply painting the walls or cleaning them thoroughly.
3. Real estate price - on request
Sometimes sellers, not wanting to form a real price for their real estate, express a desire that the real estate is not advertised with the price, thinking that in this way it will attract or intrigue buyers so the demand and interest will be higher. However, we have noticed that such a "maneuver" does the exact opposite. There is less interest in such real estate. When there is interest, the potential buyer is usually surprised and disappointed by the price of the property, which is not the best start of sales communication. Also, a lot of portals that advertise real estate, do not even activate ads without price. This, of course, reduces the visibility of the real estate itself as well as the number of potential buyers to whom the ad is available.
4. Incorrect real estate description
Apart from the fact that today's customer is very well informed, he is also very realistic. Real estate that is advertised as the best real estate in the world, and is actually average, should not be described with too many superlatives and especially something that is not even true should not be highlighted. Often sellers are required to write in advertisements that the sea view is beautiful or that the location is great. But if this is not true and the photos or the situation show a different situation, the buyer automatically loses interest in the property, as well as trust in the agency or person who published or presented the ad.
5. Bad photos
Photography is one of the most important points to keep in mind. Insufficient amount of photos and poor quality photos result in the buyer not noticing the ad of your real estate. In addition to the fact that the person taking the photo knows how to take good photos, it is extremely important that the real estate is ready to be photographed, that it is clean and tidy, the windows are open, the furniture is in the right place.
6. Poor communication
Quality communication and timely exchange of information with all sales participants is extremely important. For example, if you are late with the delivery of documentation to a potential buyer, if you do not allow timely inspection of the property or do not inform your real estate agent about all the important facts, it is very likely that you will be selling the real estate for a long time.