Feature article
How to revive a property that didn’t sell first time around
Tips and tricks from expert agent trainer Josh Phegan.
Last updated: 7 October 2024
Trying again to sell your home after failing to find a buyer last time around is a daunting prospect. But it’s part of the joys of being a homeowner and if you’ve taken care of choosing the agent who’s going to help you this time, and you’re realistic on price, second time’s a charm.
We asked international top agent trainer, Josh Phegan what sort of advice he gives agents helping sellers bring a property back to the market a second time.
How can agents help sellers tell the story about a house that didn’t sell previously, and reassure buyers that there’s nothing wrong with it?
The skill of any great agent is to bring a property to the market, present it well, and attract buyers to the door. A good agent will look for any key features or omissions in the first campaign and ensure the best features and benefits are at the forefront of the campaign. They’ll also ensure that there’s an appropriate mix of marketing tools, including digital – email, websites, social and physical – as well as signage, brochures and inspection guides.
The agent will back up the asking price with great case studies on recent sales in the area. And they’ll do great buyer matching by reviewing recent campaigns where a similar buyer would have walked through. They’ll call each buyer and see if they still have an appetite to purchase and arrange private buyer appointments with multiple buyers and agents from their office. This will drive the perception of competition and lead to a faster sales process.
What can an agent do to help sellers refresh and change the look of a home that’s been on the market before?
New photos and videos are a great way an agent can refresh any campaign. For this spring summer, they’ll emphasise summer-like features as buyers search for natural light, open spaces and ideally a pool at this time of year. If any cosmetic treatments are required, your agent will consider styling and re-painting to make sure the property is presented at its best.
Is there any extra documentation the seller and agent should provide to buyers the second time round?
If the agent or seller has identified a specific defect, it’s best practice to get a quote from a licensed tradesperson to remedy the issue. It’s better to understand how much it will cost to fix, rather than giving an amateur “guesstimate.”
If you’ve changed agents to sell the home this time around, how can you expect them to put their own stamp on the house sale?
The best way an agent can give their seller confidence is to have a great plan and to stick to it. A good agent will set the benchmarks early on, on what they expect to happen during the course of the campaign. They’ll consider enquiries, inspections, second inspections, contract requests and offers. Great buyer matching really matters.
The agent won’t just rely on the marketing campaign. They’ll use cross-selling from similar campaigns and they’ll get in touch with buyers and sellers who they think might be suitable for your property. For example, the agent will call all homeowners who’ve had three-bedroom appraisals recently in their market and get them to come and see your four-bedroom home.
Owners are often less trusting of agents after they’ve had a poor experience. So the agent you’re working with this time will do well to communicate early and will make sure they deliver on their promises at each stage of the campaign.
Before taking on your listing, your agent will sit down with you and make sure you have the right motivation to sell and that you have a realistic market price in mind. The agent will then work to build your confidence over time, and they’re likely to be open to upgrading the marketing or changing the sales process as things proceed.
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