20th July 2022 / Sarah Lowry: Andrew Winter: Why Properties Do Not Sell

As the host of Selling Houses Australia and Love It or List It on The Lifestyle Channel on Foxtel, Andrew Winter is an expert on houses that don't sell. We asked him to share the common issues he has seen during his career.

Unmotivated Sellers

Properties frequently don't sell because unmotivated vendors are not prepared to invest in the sale in terms of time, effort and money, says Andrew.

"Even when it's a strong sellers market, I've seen vendors get offers which were strong, sensible bids from buyers ready to act. But due to a lack of motivation, the vendors knocked them back," he says.

"They claim the terms or the dates don't work for them. Or they think if they wait they will get more money."

Clueless About the Competition

Often sellers focus on sales in their area from recent years or just have no clue about what is happening in their market, says Andrew.

"This is a fundamental error because selling is ALL about the competition," he says. "You need to know what is for sale right now, in your area, similar homes to yours and in similar price and value ranges.

"Being aware of this will assist you in understanding if you need to consider upgrades or improvements. Or if you can leave your home as is and do little to compete."

Don't Understand the Importance of Marketing

You cannot sell a secret, says Andrew.

"Not only do you need to be prepared to invest in marketing you need to be involved with the process," he says.

"Read all the ads, read all the online content, proof read everything and make sure this is actually selling your home. It seems obvious but I meet so many people who complain and have wasted weeks or months of their sale campaign because they haven't done anything about their marketing, tried to scrimp on the spending or didn't realise there was an issue.

"Get involved and get serious."

Unrealistic Price Expectations

One of the most common reasons homes don't sell, says Andrew, is because their vendors have completely unrealistic price expectations.

"Most homes will sell for market value," he says. "Some may sell for slightly more or slightly less depending on the local market supply and demand equation.

"But hardly ever will a property sell for considerably more than market value. So if what you'd like to get for your home is on the very high side, you need to listen to your agent and assess true market value of your home from the start.

• Andrew Winter is the host of Selling Houses Australia and Love It or List It on The Lifestyle Channel on Foxtel and the author of two books on real estate. Follow Andrew Winter on Facebook