If you’re asking “why isn’t my house selling?” or “I can’t sell my house what are my options?” fear not, we’re going to look at some of the key reasons you might be struggling to sell and to help you get moving fast.
Trying to sell your house fast on the open market can be a frustrating task. Extra complications come when you’ve already found your next home and are keen to secure a buyer for your existing property quickly to avoid losing out.
Below are 5 reasons why your house isn’t selling:
Have you priced your property correctly?
The reality is that any property should be sellable as long as it’s priced correctly. It can be easy to get caught up in national headlines about rising house prices, but the reality is your property is only worth what a proceedable buyer is willing to pay, have you ever asked yourself how much is your house really worth?.
You might see other properties in your area going on the market for high asking prices and get excited about what sort of figure your property might achieve, but in order to get a realistic idea of value it’s important to look at sold prices rather than asking prices.
If your property is priced correctly you should be getting a good number of viewings and significant interest.
It’s important to try to view your property objectively. Emotional attachment to a home, and knowledge about the amount you’ve invested in the property over the years can leave you with a strong personal feeling about how much your property is worth, but unfortunately it’s not an accurate way to assess the value of your home. Ask three estate agents to come and value your property, but don’t allow them to flatter you into marketing your house for you. Ask them what would be a realistic figure if you wanted to secure a buyer in 4-6 weeks. Many estate agents will suggest putting the property on the market at a higher than realistic figure in order to ‘test the market’ and will then look to reduce the asking price, leaving you feeling disappointed, but in reality your property was never worth the higher asking price. Asking what a realistic figure would be for a quick sale will give you a more realistic idea of where the true value of your property lies. You can find out what your house is worth through a valuation.
If you are looking to increase your properties value, there are 7 easy ways to add value to your house.
Have you chosen the right estate agent?
Choosing the right estate agent will make or break your property sale. Do your research thoroughly before you instruct an agent. Don’t just pick the agent that gives the highest valuation of your property, instead look for an agent that has significant experience in selling similar properties in your area and is therefore going to understand your prospective buyers well. Important things to look out for are how many properties they sell each month, how quickly they sell properties and the price they achieve.
Also, be aware of the contract information when selling your house through an estate agent.
Is your property appealing to the right potential buyers?
If you’re selling a large family home you’ll want to highlight any usable outdoor space, and if you’re selling a smaller property that will likely appeal to young professionals you might want to highlight any potential for a home office and low maintenance aspects of your property. Knowing, and understanding, who your target buyer is is half the battle. A good estate agent will prove invaluable when it comes to understanding your potential buyers and helping you to present your property accordingly.
Are you being given helpful feedback?
Your estate agent should collect in-depth information about potential buyers before any viewing and gather thorough feedback once the viewing has taken place. If your property has received a number of viewings but has failed to find a buyer, this feedback will prove invaluable. If there’s an issues that more than one potential buyer is highlighting then it’s something that will likely need addressing to secure a buyer (or your price will need adjusting to enable the new owner to address the issue).
Is it time to consider another method of selling?
If you’re still struggling to sell or are running out of time to find a buyer, it might be worth considering an alternative selling method, like a professional home buyer.
A genuine professional home buyer will have the ability to purchase your property in a very short period of time (sometimes as little as 7 days) and will be able to offer a guaranteed sale – something that is simply not possible on the open market. Any genuine professional home buyer will pay less than market value, so if the price you achieve for your property is the most important factor it probably isn’t the service for you, but if you’re looking for speed and certainty it’s certainly something worth considering in order to secure your next home.