SEASONED estate agents know that even in a bull property market, about 20% of the homes they list don't sell right away – some don't sell even within two or three months.
But if your home is one that has been on the market for weeks without generating an offer, you should not despair or take it off the market just yet, Aida chairman Neville McIntyre says.
"According to the latest figures available from FNB the average time that owners can expect their properties to remain on the market prior to sale currently is just under 16 weeks, which implies there are many that will take longer than that to sell," McIntyre says.
"If you're still disheartened, ask for feedback from your agent. Is your asking price too high? What are the main criticisms of potential buyers? What cosmetic changes might speed up a sale?"
Second, he says, you should consider your reason for selling, and "if you are highly motivated to sell as soon as possible, you should review and replan your marketing strategy".
McIntyre says the most common reason for a home's failure to sell is still that the asking price is more than buyers are currently willing to pay.
"Having said that, though, a price reduction should always be combined with an increased marketing effort."
Alternatively, your property may be priced right but is in need of some "make up" to improve its curb appeal.
"The best course, in most cases, is to follow your agent's advice and do everything within your power to make your property marketable right now."