Selling property in a depressed market is fraught with more challenges than one ordinarily encounters when market conditions are favourable.

One of the most commonly held misconceptions about selling property in a depressed market is that price is the sole determinant of how successful you will be in actually disposing of your property. But there is so much more. Price definitely is a factor, but not the only one. And sometimes not even the most important one. This isn’t just true in a depressed market.

In a depressed market, a keener understanding of the market is essential in helping you sell faster.

In today’s episode, we take a close look at a scenario that challenged a client who had been attempting to sell her property for more than two years in a depressed market. Here are some basic issues that require a deeper understanding when attempting to sell property in a depressed market:

Building clear narratives of the market, understanding the USPs of your property and ensuring you have an adaptable strategy to selling not may help unlock your selling goals faster.

It’s a lot harder to make a sale when supply greatly outstrips demand. However, it is possible if you are willing to put some “elbow grease” into the endeavour.

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