There could be a number of contributing factors as to why your house may not be selling. This could be due to timing, quality of estate agents or your asking price. We are going to go through each aspect of why you are struggling to sell your home, but do not ignore the fact it could be a combination of a few factors. If you are thinking ‘Why is my house not selling?’, then take a read of our guide for some expert advice and helpful tips.
Why is my house not selling? Answered.
It is essential, when selling your home, to give yourself the best possible chance of finding a suitable buyer. Figures show that only 50% of the properties going on to the market actually sell, so it is vitally important you do your utmost to find that elusive buyer. If you can accurately identify the reasons why your home might be struggling to sell, then you can alter these factors to ensure it does. We thought of five underlying principles as to why your home isn’t selling.
Your Listing Photos are Not Appealing Enough
Attractive photos play a significant role in attracting potential buyers. The images of your property are the first thing a buyer is going to look at and be interested in. If these photos are unappealing, it is going to deter prospective purchasers.
If you do not think your photography skills are up to scratch, then it is worth investing in a professional to take the photographs for you. Your estate agent may be able to take the photos for you or they may outsource a professional photographer. For further advise, ask your estate agent about the types of pictures and camera angles that are most appealing to buyers. Make sure that before photos are taken, the house is in immaculate condition and is shown off to its best. Ensure it is well lit and free from any clutter. Ensure cars and recycling bins are moved well away from the front of the house to provide the best front view of the property.
If you think your photos are high quality and portray the best features of your home, then it may not be selling because of a lack of promotion.
Lacking in promotion
You need to make sure your estate agent has placed your property in full view of the window, in a prime spot so that bypassers can be enticed. You also need to list your home on a number of valuable websites such as Rightmove, Zoopla, OnTheMarket and Prime Location. Confirm with your estate agent that they have also added your property to their website. You want as much exposure as possible to reach a wide enough audience. You could also advertise on a number of other platforms and social media websites. Having a for-sale board outside your house is also an effective way of captivating the attention of potential buyers.
Overambitious asking price
We all want to receive an adequate amount from the sale of our house, but asking for an unrealistic price is just going to deter potential buyers. If your house is on the market for substantially more than the buyer’s budget they are very unlikely to ask to view it. If you want to sell your home, it needs to be on the market at a competitive price for you to see those inquiries.
Make sure to do enough research into the price of similar properties to yours, both in size, age and location. This way you can set your property price accordingly. You must also remember that it is better to set your price initially rather than starting high and then having to lower the price when it doesn’t sell. Potential buyers will be aware of the properties that have been on the market for a while and may be deterred by this factor; it is likely to make people think there is something especially wrong with the property.
If your neighbours also have properties on the market at the same time as you, then you may want to consider pitching your price slightly lower than theirs. This is a guaranteed way of appealing to more potential buyers and ensuring your property is sold first.
If you think your asking price is reasonable for the age, value and location of your property, then it could be due to bad market timing.
Bad Market Timing
There are a few periods throughout the year when properties do not sell as well. This is usually around the holiday season when most people do not feel like parting with their money. Winter is by far the worst time to try and sell your home, whereas spring is considered to be the best. Your estate agent should be aware of good market timings and advise you based on this.
If your home has been on the market for a long period of time with no sale inquiries, then it may be worth taking it off completely and put it back on when the timing is right. You can check out the fluctuation of property prices in your area on this interactive house price map. If you have put your house up for sale during the worst time, then be prepared for it to take longer to sell.
Your estate agent is not suitable for you
Not all estate agents do the same job and work to the same standard. Opting for the cheapest estate agent can considerably increase the time it takes for your property to sell if they are not providing you with the best chance. Look into at least three estate agents before you decide on one and ask them to all provide you with their advertising and marketing plan.
It is also worth asking what the agents will plan to do if your property has not sold within the first month. We advise not to sign a contract for longer than 6 weeks or one that automatically renews at the end of the period. If you have not seen much interest in your property from potential buyers after 6 weeks, then it is worth looking for an alternative estate agent. Take a look into this estate agent comparison tool to help you find the agent best suited to you and guaranteed to sell your home in the given time frame.
Each of these factors could be contributing to the fact your home isn’t selling, or it could be a combination of them all. If you have identified any of these aspects during your selling process, then it is worth taking our advice and acting on it to ensure your home is sold by the date you desire. If you are also looking for full removal services in London, then get in touch with our reliable team today for a free quote.