What to do if your home isn’t selling: Five top tips
The idea of selling your home, especially for the first time, can be a daunting one, let alone if the property isn’t selling. No sale period is the same so you shouldn’t be alarmed if the waiting period for your property to sell is longer than you expect. On the other hand, it’s important to ensure you are are doing all you can to attract potential buyers.
Here Graham Farthing, Residential Partner at Austin Gray, suggests five top tips on what you can do if your home isn’t selling:
1. Make sure you get an up to date professional valuation
The bottom line is that it all comes down to the price. If you’ve got the presentation right then the price is a big swing factor for potential buyers. If your home ticks all the boxes from transport links and good schools nearby but falls in an unrealistic price bracket, buyers are going to opt for something else nearby.
One of the best ways to ascertain a healthy starting price is to get a property valuation with a team who knows what they’re doing. Ensure you research your local estate agents and talk to people in your local area for recommendations.
2. Try another sales channel
If you’re keen to sell quickly then you should consider auctioning your home. Property auctions can exceed all expectations because they are transparent and secure with no hidden catches. Contracts are generally exchanged between the seller and the buyer inside the auction room and these events are often attended by a number of investors and developers who are ready to invest and expand their portfolios. As long as you set a realistic price your property should be sold by the end of the auction.
3. Be prepared to seal the deal
Spring and early summer are the best times to sell your house whatever the economic climate. Buyers will want to hurry into a new home in time for the summer sunshine and families like to get settled before the start of the school term. Ensure all your finances are in place so that if a buyer bites you’re ready to seal the deal quickly. Make yourself available at all times and retain a close relationship with your agent so that your property is always kept at the top of their list of priorities.
4. Organise an open day
One of the best ways to drum up sales interest in a crowded property market is to host an open day. Open days have proved highly effective for a number of our sellers who have struggled for some time to sell without compromising too much on the price. Make sure you liaise with your estate agent directly on an event like this. A professional estate agent will take the time to set up and manage the event, and will use their expertise to guide visitors around your property effectively.
5. Choose the right estate agent
A dedicated agent will go above and beyond expectations to seal a deal. The right agent will know your area and local market inside out, its annual peaks and troughs, which demographics will be interested in your property and what appeals most to them. They will be your eyes and ears throughout the process and take the initiative to try something new if what you’re currently doing isn’t working. Finding the buyer is only one small part of what an estate agent will do. An agent will really come into their own when it comes to actually getting the sale through to the exchange of contracts and completion.
Content provided by OnTheMarket.com is for information purposes only. Independent and professional advice should be taken before buying, selling, letting or renting property, or buying financial products.
See www.onthemarket.com/newandexclusive. Agents specify exclusivity.