We’ve all heard the scare stories. X puts his/her house on the market and it’s still on there a year later – with no one having put in an offer. Scary stuff when home owners are keen to move and want to get things going. After all, it’s the last thing anyone needs when moving home, which is one of life’s most stressful events.
What’s even MORE strange is when your home won’t sell in a booming market. You’re reading everywhere that property prices are soaring, but your home is sitting there, refusing to budge, like a stubborn child. Wannabe buyers trudge in and out, each time adding a little more disappointment to your heart. You think about lowering the price. That doesn’t work…aaaagggghhh!
The first thing to do is to stop panicking. While it’s perfectly acceptable to feel impatient, particularly if you’ve already pinpointed a home you wish to purchase, they’ll be a logical reason why your home won’t be selling. Someone very wise once said: “A home’s only worth what someone’s prepared to pay for it – and he/she is right. If your home isn’t selling as fast as you’d like the most probable reason is that it’s priced above market rate. Despite the stories of booming property prices, the reality can be somewhat different. If your home is located in Central London or Kensington say, it’ll be pretty easy to sell – as long as it’s in good condition. The problem is that the media reports alluding to ever-increasing prices can lead those living in less salubrious areas to have unrealistic expectations and price their property above what they can get for it in the real world.
We as an estate agent in Central London have come up other reasons why your home may not sell…
Your estate agent
It’s important to be objective at this stage and ask yourself about the quality of your current estate agent. Do you get regular viewings? Feedback? Are you in contact often with the agent and have you asked his/her advice as to how to make your home more desirable? Did you know that some 60 percent of properties DON’T sell with the first estate agent you use? Shocked? Maybe. But one way of ensuring that you pick the right agency is to properly check them out online. Make sure they have a good track record and online reviews and if possible give them an initial ‘test’ call and ask them about their knowledge of the area.
Are the photos selling the property?
One of the key things is to have the right photos for your property. Make sure they are bright and show your home in the best light. The agents often have professional photographers available to help out. Buyers will likely dismiss a property if the photos are unclear or don’t do your abode justice.
One of the first things many buyers do is look online for the floor plan. This is because knowing how big a property is most definitely is one of the essential things for buyers. The square foot measurement of a property is very important and tells people in one quick look the layout of your home, where the kitchen is, how close the bathroom is to the bedroom and how big the garden is etc. This way, buyers can work out where their stuff will go and make a quicker decision. Including a ‘lifestyle description’ also helps – where you highlight the features and give a feeling of the property’s atmosphere.
Who’s showing your home?
Do you know who’s doing the viewings? Are you sure they’re doing a good job? You need to make sure that staff are showing your property properly, with experienced people helping to sell your home rather than just taking a casual approach – e.g just opening the door and letting the potential buyers randomly wander around! If you’re not convinced that they are promoting your property well enough ask to accompany a viewing – and have a word with the manager if you’re not happy.