What if my property doesn't sell?

If you're having trouble selling your property because of rising mortgage rates, stagnating prices in some cities and lengthening sale times, here are a few tips to get your apartment or house back on the market.

If your apartment or house is too expensive for the market

When you put your property up for sale, one of the first essential steps is to estimate its price, often using one or more real estate agencies. The price proposed by the agency is discussed with the owner, and together they determine the price that will be displayed in the advertisement.

However, it is at this stage that the most common mistake occurs: setting a price significantly higher than the property's actual market value. There are several reasons for this. On the one hand, property owners can be deceived by an agency that carries out a "seductive estimate", i.e. an estimate that is much higher than the real price of the property, in order to satisfy the owner and encourage him or her to sign the sales mandate. On the other hand, the estimate may have been made several months ago, and the price was not updated when the property was put up for sale. The real estate market is constantly evolving, with prices falling, rising or stagnating.

A price that's too high compared to other properties on the market will have trouble selling. It will remain on real estate sites for a long time, as people will either not come to view it, or will take time to negotiate the price. Taking the risk of setting too high a price is not recommended, given the rise in interest rates and the decreasing purchasing power of buyers. Similarly, a price that is too low in relation to market prices may give cause for concern. It's very easy for buyers to spot an excessively high price by comparing similar properties.

It is therefore highly advisable to seek the advice of another real estate expert to carry out a new valuation of your property. This will ensure that you put it up for sale at the right price, in line with market reality. If you've had few visits for several weeks, it's probably time to re-evaluate your property and modify your marketing strategy.

Your property is too exposed

You might think that by working with several agencies, you increase your chances of selling your property. But in reality, the opposite is true! Putting your property up for sale with several agencies is a bad idea, because it devalues your property. Buyers see it everywhere and think it's hard to sell, leading them to believe it's hiding something.

So it's crucial to create scarcity around your property and attract buyers' interest. 

To create excitement and cultivate the rarity of your property, it's important to limit its distribution through agencies. Choose a single agency that will have exclusivity (without necessarily signing a binding exclusive sales mandate) for the sale of your property. If your property has already been listed for a long time with several agencies, don't hesitate to cancel the mandates and keep just one for the rest of the sale.

Your property is not sufficiently promoted

In recent months, the real estate market has become more complex, and what might have resulted in 10 offers for a certain type of property on the first day of viewing no longer necessarily happens today. A property with "flaws" such as limited light or an unconventional layout may remain on the platforms for longer before finding a buyer.

What's more, buyers are paying increasing attention to the energy performance (EPB) of properties for sale, due to rising energy prices.

To sell more quickly and at a better price, you can consider renovations such as improving insulation, installing double- or triple-glazed windows, or replacing the heating system. These measures will improve the property's EPB score.

Your property has been for sale too long

After several months of displaying your property on sales platforms, buyers are already aware of it. You haven't received any offers and visits are becoming increasingly rare. You're beginning to despair and think your chances of selling are nil. Don't worry, we've got solutions for you!

In a situation like this, one of the first steps is to take your property off the market. You need to get it out of buyers' minds. This will allow you to wait for new buyers to enter the market, and capture their attention when the time is right.

After you've taken your property off the market for a while, it's time to give it a new lease of life. You're going to put it back on the market having followed all the advice above, which guarantees you'll sell your property in the shortest possible time and at the best possible price!