Which magazine recently published an article listing seven reasons why a property isn’t selling. Below we look at the problems and what we can do to to solve them:
1. The photos on your property’s online listing aren’t up to scratch: We couldn’t agree more with this point. In most situations, a buyer will first see your property online. As an absolute minimum, property photos should be taken with a DSLR camera, using a wide angle lens. The photos of your property should all look bright and the rooms should be clutter free. You want people to look at the photos of your property and want to live there. Look through your current photos and be brutally honest, could they look better? If the answer is yes, ask your estate agent to come back out and take new ones. Your agent should be doing this anyway as they should have the same goal as you – to sell your home.
2. Your property isn’t being properly promoted: We agree entirely with this point. A lot of people think by putting a for sale board outside a property and advertising it on various property portals, the agent is doing everything they can and should do. Whilst this sometimes may work, you need your agent working for you and going the extra mile. Do they have a pre-defined marketing plan? Have they contacted everyone on their database to tell them about your property? Have they advertised on social media? Have they come back out to see you, take new photos and freshen up your property description? If not, we don’t think they are being proactive. You need your agent to be proactive for you, not just sitting back and waiting for the phone to ring.
3. Your asking price is unrealistic: It’s human nature to want to buy something at the cheapest price and sell at the highest price. Look at other properties close to yours and compare your price with theirs. If your price seems high in comparison, it probably is too high. Don’t be afraid to reduce your price. Do it, make your property competitive in the market and watch the viewers flock to your home. Some agents have a tendency to overvalue properties to get them on their books. Don’t fall into this trap. The first weeks/months are your prime selling time. Don’t lose out on a potential sale because your price is too high.
4. Buyers aren’t being given the best first impression: Take off your home owner hat and put on your viewer hat. Start at the front of your house and then walk through your property. Be really honest, what type of impression does your property give? Does the garden need tidying? Does the front door need a lick of paint? Are you a smoker or have pets? If so, is there a smell? Ask a friend to help. Remember, this isn’t criticism to make you feel bad, it’s constructive and there to help you sell.
5. Your estate agent isn’t working hard enough: At Next Chapter we have a motto, “Sell a property as if it belongs to your mum”. In our opinion, estate agents should encourage their clients to mystery shop them and see what kind of service they receive. Ask a friend to call and arrange a viewing on your property. Did your agent answer the phone politely? Were they knowledgable about your property? Did they come back to your friend quickly? If your agent isn’t doing the basics right, alarm bells should start to ring.
6. It’s the wrong time to sell: Whilst we agree with all the previous points, we don’t agree with this one. Take for example Christmas. Christmas has always been seen as a terrible time to put your property on the market. We think Christmas is an excellent time to be on the market, and the stats prove it. Traffic to property portals goes up substantially over the Christmas period. Think about it, people are off work and they are going into that time of year for resolutions – one being a new home. Make sure your property is visible at this time. Also, if there is less property on the market, there is less competition. I’d fancy my chances much more in a race against three people, rather than one hundred!
7. Buyers aren’t aware of a property’s potential: People like to put their own mark on a property. Have you previously had planning permission to extend? If so, make sure your estate agent highlights this feature. Any opportunity to potentially add value should be mentioned. Do you have one bedroom which could be split to make two bedrooms? If so, your property may appeal to other buyers who need that extra bedroom. Make sure all the potential of your property is highlighted by your agent and definitely make sure the viewers are told.
The seven reasons were taken from Which Magazine.
The full link can be found below. https://www.which.co.uk/money/mortgages-andproperty/home-movers/selling-a-house/7-reasonswhy-your-house-isnt-selling-arn5j4y3m7qz