“When you’re attempting to sell your house, it might feel like it is dragging on forever” said Jamie Johnson, CEO of FJP Investment. “Many people may never find the dream property they desire since time is short. Regardless of how much guidance an estate agent provides or how many viewings you can get, it might be discouraging to get no bids at all.”
When it comes to selling your house, you may do everything you can to prepare for the best possible result, but many of the issues are out of your hands.
Are you and your estate agent a good match?
Many just nip down to their local main street and choose an estate agency based on the property and the quality of their introductory customer service. This is perfectly acceptable, and many individuals sell their houses through traditional estate agents every day. But today, there are several ways to sell your house.
Are you being honest with your price?
Properties are often evaluated in the housing market a bit over their actual worth. If a potential buyer submits a lesser offer, this will give the two parties a place to begin negotiating. Sellers may occasionally find themselves the victims of such pitfalls. Numerous instances have occurred in which homes have been listed at an inflated price with no viewings. As a buyer, it is tempting to treat an agent’s value as immutable and become inflexible on price. This can result in lost opportunities. Your property agent should assist you in settling for a reasonable price and talk about the potential of getting less to enable you to sell your house.
Property often sells better when it’s advertised on property portals, an estate agent’s website, and, if choosing a traditional agency, in their shop window. Every feasible marketing channel should be utilised by your agent to maximise the number of potential buyers seeing your home. When selling a home, you should notify your estate agent if you feel it is not being properly promoted and marketed appropriately.
It’s possible that you adore the neighbourhood in which your house is now located. But not everyone will agree. Every buyer has distinct demands to consider while searching for a home. Is it near a good school? Is there a major road filled with traffic close by? Is a new housing development being constructed on adjacent land? Remember, you can’t make everyone happy, so further negotiations should not be discounted.
Disappointing presentation in the photos
The appearance of a property is what initially draws people to it. It is your house’s overall look and feel, especially the photos taken of the outside and the interior, that will sell it. If the pictures used are of low quality or inaccurate portrayal of your house, then how soon your home sells will be affected. Moreover, too many photos are better than a few because buyers think that something is hidden.
If you are unhappy with the use of pictures to sell your house, you are entitled to request a fresh set from the agent. Give examples of great property photos and don’t accept less.
Are you kept updated?
To keep you apprised of the situation, your agent must contact you often to tell you about your property’s interest. Also, make sure that you are notified of any offers, as well as comments following viewings. After all, when your agent does not pay attention to you, how can you hope to sell your home? When working with your estate agents, ensure that you choose your preferred communication channel and, in turn, your estate agent will keep you informed.
Right or wrong time to sell
Properties have a yearly pattern that occurs on a predictable basis. Most buyers look for a home in the spring and autumn months, with the summertime and winter months occupied with school vacations and Christmas. Spring and autumn are ideal times to sell your home and buy a new one, since people have more time to spare.
Putting your property on the market during peak months is one method to compensate for this. Selling your home is best done between February and June, and mid-September to October. Alternatively, you may choose to hold your investment for a period of time instead of selling – if it is a second property a buy to let investment could yield greater returns over a longer period than a sale.
How does the local market look?
As noted above, selling your property takes longer during certain times of the year. However, market circumstances in your neighbourhood can also influence timelines and the number of individuals interested in viewing your house. Your real estate agent will discuss the performance of the local market and offer you an estimate of the market uptake rate. This is the number of months it would take to clear out your property stock in your location if nothing else was available for sale. A seller’s market with lower absorption rates is ideal.
An absorption rate of 10 months or more may indicate a buyer-friendly market. Maybe you’d like to hold off on selling your house since the market is sluggish, and you hope it will get better soon.
Do you have room to manoeuvre?
Have you done everything possible to get your home sold? Are you able to accommodate viewings that are convenient for interested buyers? Are you reacting to the feedback you’ve received? Are you willing to accept bids below your asking price? Try to be as flexible as possible while selling your property. Otherwise, your house may languish on the market for months.
Failure to move on things like viewing appointments or inspection requests, and such things as weak offers, might stymie the selling of your house. If you are committed to selling your home, keep your expectations reasonable and remain as flexible as possible.