Why Won't My Apartment Sell?
You scrubbed, you staged, and you baked cookies three Sundays in a row. And still no nibbles. It may be time to reassess your approach—and your agent’s. Turns out, there are a few commonalities when it comes to why an apartment keeps getting passed over by potential buyers.
Some of which, like the disposition of your co-op board or your building’s position on pets, are out of your control. Others are more manageable. Fortunately, though, there are a couple of big factors you can control, and a new attitude can breathe new life into your listing.
You've priced it too high
Easily the biggest hindrance to selling is an overpriced apartment. Take another look at comparable apartments and make sure your pricing falls in line with the competition—in your building and in your neighborhood. Here's a recent case study I wrote which illustrates this point to a T.
You're selling it wrong
Take another look at your agent’s marketing plan and make sure they're highlighting the best parts of your home, whether that’s a breakfast nook, a wood-burning fireplace, an outdoor space, or city views—and make sure the photography truly shows your home in the best light. Here are some articles I wrote about the importance of staging.
It's looking past its prime
When prospective buyers land at your open house, it’s probably not their first time around the block. They’ve seen the competition and they know where your place is falling short. And their judgment is swift and harsh. Take another look at dated kitchen appliances and cabinetry, and bathroom fixtures that aren’t quite as happening as they were when Disco was cool. Many buyers have very little imagination, and even less patience. Make sure you address these issues prior to launching your property.
Your timing is off
That giant construction site next door is doing your open house no favors. And listing your apartment right before the holidays isn’t helping either. Timing matters, and if you can wait out these types of scenarios, you'll fare much better.
Your broker is going soft
An apartment that gets off to a slow start can be frustrating to a seller, but it shouldn't discourage your broker. Your broker should always be looking for new, creative ways to get your home the attention it needs.
When we list homes, we monitor every listing site to make sure the home is being displayed correctly, engage our broker network to ensure the home is on their radar, throw open house parties for industry professionals, and create various marketing collateral (brochures, flyers, post cards, video content etc) to ensure maximum exposure across all of our social media platforms.
Interested in discussing how we can help sell your home? We’d love to chat with you. Simply reach out!