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Sunday, 26 July 2020

6 Reasons Your House Might Not Be Selling

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The housing market can move frustratingly slowly, it is completely normal for several months to pass by between listing your property on the open market and finalising a sale. Sometimes though, whether due to low buyer interest, numerous sales falling through or poor feedback, it can become clear that something is wrong: your house just isn't selling. Unfortunately, you may have fallen into one (or several) of the common seller pitfalls when trying yo sell your property on the housing market. 



Here we have put together a collection of factors that can grind the house sale process to a halt. Any of these things can dramatically increase the length of time a property spends on the market; keep reading to make sure that you are not falling victim to any of them. 

Poor Presentation 


Buyers want your property to look pristine. If its struggling to attract the interest you think it deserves, it's possible that your are presenting it improperly or not to its full potential. First of all, cleaning up is a must: sweeping, scrubbing and decluttering will make your home look brand new helping prospective buyers project their own lifestyle onto your property. This extends to the exterior of your house too: kerb appeal (the appearance of a property from the road outside) can make or break a buyers interest. Keep the grass trimmed, empty the bins, wash the driveway and make sure that any exterior damage is repaired. 

Mess is a major turn-off for buyers, but presentation goes deeper than that. Signs of a house being occupied, family photos, pet beds, sporting trophies and such, can make it harder for a buyer to envision themselves in your home. By leaving your property looking like a lived in home rather than a blank canvas that can be moved straight into, you could be lengthening the time it spends on the market. 


Poor Photos


If presenting your house well is one side of a coin, securing high quality photos is the other side. In this digital era, photos are more important than ever for grabbing a buyers interest and attention. Inadequate lighting, poor angles or shoddy picture quality can be an instant deal breaker for some buyers and won't make your house stand out on the market. Not only do poor photos prevent your homes true value from shining through but it may reflect badly on your competency as a seller. 

Consider if the photos that present your property are attracting potential buyers or driving them away. This is especially relevant if you are primarily relying on online marketing methods. A good estate agent should help you take high quality, industry standard photos. Alternatively you could enlist the help of a professional photographer that specialises in property photos. Whilst this may cost extra, these photographers know how to capture the best images and angles of your home and this in turn could help speed up the property sale and increase its appeal. 


Inadequate use of Technology


A stagnant house listing may be cause by improper utilisation of technology, particularly the internet. Modern technology has broadened the angles at which sellers can approach the property market. Social media has helped people take promotion into their own hands and online estate agents take that a step further by placing even more responsibility onto the seller themselves. Alternatively, online property buyers like LDN Properties take a different approach by removing a lot of the hassle and waiting involved with the typical house selling process, they buy properties quickly with no chain involved. 

If you are watching the weeks pass by and don't have many (or any!) potential buyers to show for it, consider expanding your marketing efforts to include online property portals (RightMove, Zoopla, OnTheMarket) and social media in addition to your estate agent's website. By casting a wider net, you're bound to catch more fish. 


Caught in the Chain


The chain refers to a series of house sales that depend on each other's success. If you have a buyer lined up, and they're selling their own house, any issues with their sale will impact yours too. If your house sale has slowed down suddenly, or your buyer becomes uncommunicative, it's possible that 
complications along the property chain are to blame. 

The longer the chain, the more likely (and lengthy) delays will be. While it's not always easy to avoid this, choosing a chain free buyer will increase the likelihood of a smooth, delay free transaction. 

Over-Valuation


Setting a sensible initial asking price is beneficial for a variety of reasons. First of all, it opens your property up to more potential buyers: property listing websites often sort by asking price and so a highly valued property may never be seen by a large quantity of that websites users. Additionally, people may see your property and be instantly scared off by it's ambitious asking price. Both of these factors decrease the amount of attention on your house and will therefore lead to a longer time to sell. 

Finally it's worth considering how lowering your asking price can raise red flags among buyers and estate agents. From their perspective, it suggests that there are issues with the house that make it undesirable. Overvaluation will likely lead to a price reduction being necessary, causing concern among estate agents and discerning buyers. 


Out of Season 


It is widely recognised that certain seasons are better than others in the property market. Autumn and Spring are typically more productive; Winter and Summer, on the other hand, tend to see less activity for an array of reasons including summer holidays and Christmas. If your property is sitting idle-free of viewers or contact from buyers, consider how the time of year could be impairing the level of interest in your property. You may even benefit from saving your efforts for a more active period of time in the market. 


Final Word


The property marker is hard to read and often seems inexplicable. A house that appears to be spending too long on the market may just be a victim of poor luck or timing, but it's also possible that the house's owner is unintentionally stunting its potential. When selling your property, be sure to use all the resources available and present your house in the best possible light (literally and figuratively) to help ensure a speedy sale. 


(Image credit - lyliarose.com)

Do you have any top tips for helping a home sell? Perhaps something that worked for you or stood out for you when you purchased your home? Let me know in the comments below. 

xXx


**This is a collaborative post.**

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