Unsold in Sydney's Eastern Suburbs
Your home didn't sell. The property is rarely the reason.
The campaign ran. The money was spent. Now the calls have slowed and the only advice left is to drop the price. Before you do, look at how the campaign was run, and who ran it.
Illustration of the two operating models. Not a measurement of any agency.
The brand won the listing. It was never going to sell the home.
Most sellers choose an agent by the name on the board. It feels safe. A big brand suggests a bigger reach and a deeper list of buyers.
That was true thirty years ago. It is not true now. Every agency in the Eastern Suburbs advertises on the same two portals. They book the same photographers and the same stylists. They use the same methods of sale, auction or private treaty. A buyer searching in Bellevue Hill or Bronte sees every listing in the same feed, whatever the logo.
The method and the marketing are a level field. The agent is the only variable left.
So the brand does one job. It wins the appointment. After the agreement is signed, the result depends on the person who answers the buyer's call.
Who was working on your sale?
In a volume office, the agent you met at the appraisal can carry two dozen listings or more. No one person can run that many campaigns closely. The work gets divided.
- InspectionsOften run by an assistant who met your home that week and cannot answer a hard question about it.
- Buyer follow-upDelegated, late, or scripted. Serious buyers go cold when nobody senior calls them back.
- FeedbackPassed up the chain and summarised. You hear a version of what buyers said.
- NegotiationThe lead agent arrives at the end, with limited knowledge of each buyer, and a full diary.
None of this is hidden. It is how a volume business has to run. It is also why good homes sit unsold.
The arithmetic
Your last $100,000 is worth very little to a busy agent.
A volume agent earns from turnover. A sale this week at a lower price pays almost the same as a sale next month at a higher one. Holding out for your best price costs them time they could spend winning the next listing.
Move the slider. See who the extra money matters to.
Worked at an illustrative 2% commission, before GST. In a larger office the individual agent receives only part of the agency's share.
How a campaign fails
Unsold campaigns tend to follow the same course. You may recognise yours.
- The quoteA high figure at the appraisal. It wins the listing. Nobody tests it against the buyers actually in the market.
- Weeks one and twoThe strongest enquiry any campaign will get. If follow-up is slow here, the best buyers are lost.
- Week threeFeedback turns negative. The conversation shifts from the buyers to your price.
- Week four onThe listing is stale. Buyers ask what is wrong with it. The agent's attention has moved to newer stock.
By this point the home carries a history. A price cut alone does not remove it. The campaign has to be rebuilt.
What a relaunch looks like with one agent
I am the sole principal of Weiss Real Estate. There is no team. I take a small number of campaigns at a time, and I run each one myself.
- A post-mortem firstI review the last campaign. Pricing, presentation, enquiry, and where the buyers dropped out.
- A clean returnTime off the market where it helps. New photography, new copy, and a price position that buyers can believe.
- Every inspectionI open the home. I meet every buyer. I know which ones are real.
- Every callBuyers hear from me, the same day. You hear exactly what they said.
- Every negotiationI negotiate the sale myself, with full knowledge of each party. There is no handover.
I have sold property in the Eastern Suburbs for more than 35 years, through several cycles, and more than 1,000 homes. In a cautious market, patience and close attention to each buyer decide the result.
Questions unsold vendors ask
Why didn't my home sell?
Usually for one of three reasons. The price was set to win the listing. The early buyers were not followed up properly. Or the campaign ran too long without a change in strategy. The home itself is seldom the cause.
Should I just drop the price?
Not before you know why it failed. A price cut on a stale listing tells buyers you are under pressure. Work out the cause first, then decide on price.
How long should I wait before relisting?
It depends on how long the home was exposed and how the market has moved. Some homes need a few weeks of rest and a fresh presentation. Others can return quickly under a different strategy. I will tell you which applies to yours.
Can I change agents?
Yes, once your agency agreement has ended or been properly terminated. Read the agreement for its exclusive period and notice terms, and take advice if you are unsure. I only act for vendors who are free to appoint a new agent.
A private campaign post-mortem
Find out what went wrong before you decide what to do next.
I will review your last campaign and tell you plainly why it did not sell and what I would change. It is private and there is no obligation. This review is for vendors whose agency agreement has ended or is about to end.
Weiss Real Estate acts for vendors across Sydney's Eastern Suburbs, including Bondi, Bondi Junction, Bronte, Tamarama, Bellevue Hill, Double Bay, Rose Bay, Vaucluse, Dover Heights, Woollahra, Paddington, Randwick and Coogee.