Q. My property has been on the market for well over six months now and it’s still not sold. My agent keeps telling me it’s the price but I think he’s wrong even though we have had multiple lower offers I just can’t get my head around selling it for less than I think it’s worth given I have spent so much money on refurbishing it.
A. Listen, it’s not rocket science to believe that our home is our castle, we pour our heart and our soul into a property especially when we refurbish it too and given it’s likely to be the single most expensive asset we are ever likely to own it’s completely normal to feel disappointed and let down when we have a figure we want to achieve in our heads and find out this is simply just not possible. Of course much does depend on the market conditions and if it’s flourishing and there are plenty of buyers around you might just strike lucky and get someone come along that has your exact taste in decor that will be willing to pay the price. But sadly we are currently not enjoying that favourable kind of market rather the complete opposite. This doesn’t mean that you can’t sell, far from it in fact but it does mean that you will only achieve what a buyer is prepared to pay for it. Which is likely to be the reason why you have received multiple offers which you don’t find acceptable. At this point you need to consider if you would be willing to accept something lower, or more importantly would you be willing to accept the highest offer you have received thus far. If the answer is yes then go back to your agent and accept it pronto before you lose it altogether. Alternatively if you don’t have to sell now and absolutely refuse to get your head Around those kind of figures then you will have no option but to remove the property from the market and wait until the market stabilises and recovers and actually starts to improve. Just a word of warning on that front, you could be waiting a few years I believe. Sadly it doesn’t matter how much we want or expect to achieve when we decide to sell what the buyer is prepared to pay will always be the deciding factor.