Reasons Why Your House Is Not Selling
After much deliberation, you decide that now is the time to take action. No more ‘umming and arring’. You’re finally going to do it – you’re going to sell your home. Sure, selling your humble abode is a big decision, but it’s time for pastures new.
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An agent is instructed, and your home is officially on the UK property market. Now you sit back, relax, and wait for the offers to come rolling in… but there are no offers. You tell yourself it’s only been a week; there’s no need to panic…
Still no offers, and it’s been a month.
Understandably, you’re frustrated and asking the agent why your home isn’t selling. Maybe they tell you the market is slow, or that your particular property type isn’t in demand. None of the answers are particularly satisfactory.
While the above scenario isn’t ideal – and it certainly doesn’t apply to the majority of vendors on the market – there can be times when it’s proving tricky trying to sell your home – with offers not as forthcoming as you might like.
Don’t hit the panic button just yet, however. There might be some reasons why your home isn’t selling. We’re here to tell you what they are.
Where’s the kerb appeal?
Maybe you’ve spent a considerable amount of time making sure the inside of your home looks fantastic so that viewers get the ‘wow’ factor. But have you shown any love to the outside of the property? First impressions count, and the exterior of your home is the very first thing viewers see.
Buyers make their mind up about a house pretty darn quickly. You’re already doing yourself a disservice if the outside isn’t up to scratch. Make sure the garden is tidy, wheelie-bins are neatly tucked away and that doors and windows are sparkling.
Don’t spend too much money making the outside look all shiny and new, but if you have the time, it might be worth giving some parts of the exterior a lick of paint.
No matter how you decide to tackle the outside of your home, at the very least, make sure it’s presentable.
Clutter, clutter, clutter
Perhaps the outside isn’t the problem, and it’s internals causing an issue. Trying to sell your home while living there can be tricky – you’re always busy keeping it spotless while getting on with your day-to-day life.
The truth is that you need to declutter – and that’s not merely clearing surfaces and shoving everything in the cupboard under the stairs. As you are moving home, now is an excellent time to look at what you need and what you don’t need.
Old children’s toys, furniture and exercise equipment that are collecting dust in the spare room – they’re all prime candidates for charities. Your local council may even be happy to come and collect your unwanted items. That leaves you with a fresh-looking house primed for the sales market.
Your asking price is too high
Some agents overvalue homes, in the hope of getting a higher commission. Then, when it doesn’t sell, and they just want to get it off their books, they convince you to lower the price. Most agents work off of commission, so it’s in their best interest to get as much as possible – but it doesn’t always work out that way.
But if your house goes on the market higher than current area values, you’re going to struggle to sell it. The best thing is to carry out some research, looking at similar properties in the area. Doing so will give you an indication of its real value.
Starting high and lowering accordingly isn’t a great look, as buyers are aware of properties that have been on the market for a long time. It’s best to speak to someone who can offer impartial advice, without having anything to gain in terms of commission.
Your estate agent isn’t pulling their weight
The hard truth is that some estate agents are better than others. When you instruct an agent they will promise you the world, as well as the highest price for your home. That’s why you need to do your research before giving them they keys.
What will they do to market your property? Providing professional photos and floorplan should certainly feature in the package. But what about marketing? Ask an estate agent how they’re going to promote your property to potential buyers.
Today, agents need to be just as tech-savvyas they are good at any other component of their job. How do they use social media to boost your home’s profile? Are they always available to take any queries you might have?
You should have an in-depth discussion with any potential agent to make sure they will use all of their resources to make sure your home sells as quickly as possible.