Putting your property on the market is never an easy feat, and many homeowners hit roadblocks when it comes to selling. We’ve highlighted twelve of the most common reasons why your property may not be receiving the attention it deserves so you can rectify any issues going forward and find the right buyer.
1. Your property’s price is too high
Putting your property on the market for the right price is vital to landing a sale quickly. If your property is above a potential buyer’s budget, they’re unlikely to view it or be aware that it’s for sale when searching for a particular price range online. To combat this, research what similar homes have sold for in your area and get valuations from at least three local estate agents. If you decide the asking price is too high, there’s no shame in reducing it to attract more buyers.
2. Your property isn’t on Rightmove
If your property isn’t listed online, you will be overlooked by almost all of your potential buyers. Ensure your home is listed on Rightmove, the UK’s biggest property portal, as well as being on the estate agent’s own website. Advertise your property on more than one site to get the most exposure possible, with other major portals include Zoopla and OnTheMarket, or by advertising in the local press and internet (many areas have Facebook groups or independent forums). Finally, be sure that you have a for-sale board outside your house to attract any potential buyers passing by.
3. Your property photos aren’t doing your home justice
With more and more people searching for properties online, having high-quality photos of your property makes a world of difference. Ask for second opinions of property photos from a friend or family member, and if they don’t think the photos are working, ask your estate agent whether there are any more images to choose from or whether they could take some new ones.
4. Your property isn’t presentable or is messy
Before viewings and photo shoots you should always ensure your property is looking its best. A general checklist to follow includes: ensure that every room is brightly lit and clutter-free, put the toilet seat down, open curtains, switch on lights, plump cushions and make beds.
5. You haven’t featured key assets of your property
Check that the listing of your property online and in your agent’s marketing materials is accurate and highlights the key features of your home. Words such as ‘garden’, ‘garage’, ‘parking’, ‘freehold’ and ‘detached’ are all popular search terms, so ensure they’re included in the description if applicable in the property listing.
6. Your property is disappointing during viewings
If your property has had a decent amount of viewings but has gotten little to no offers, there might be a problem with the way it’s being presented. Much like in tip #4, consider whether your property is looking it’s best. Walking around the property as if you’re on a viewing might help, as could asking your estate agent and friends for their honest opinions.
7. You need a new estate agent
Your estate agent’s job is to give you regular updates on what buyers think of your property and how much interest it’s getting online. You might also want to check how well your agent is marketing your property to potential buyers. If you feel as though your agent is doing a less-than-stellar job, it may be worth considering switching agents. If you do want to change to a new estate agent, check your contract as you may be bound by a tie-in period and you’ll also need to factor in the notice period.
8. It’s the wrong time of year to sell your property
The time of year you list your property can have an impact on how long it takes to sell. Spring is traditionally a busy time in the property market with plenty of buyers around (but also more competition from other sellers), while the winter months are less busy as people focus on Christmas.
9. Buyers aren’t aware of your property’s potential
If the property you are selling has the potential for renovations, be sure to make this clear to buyers. This gives the buyer a feeling of agency when visualising the potential of your property. Simple visual cues such as displaying the plans of possible renovations somewhere prominent during viewings can communicate this excellently. If you haven’t got as far as that but know neighbours have had similar projects approved, or if it would be easy to knock down a wall to create an open-plan living space, ask the estate agent to mention this, as some buyers need a little help visualising what a property could look like in the future and how they see themselves inhabiting the space.
10. You’re in a long property chain
Buyers may be discouraged if you’re planning to move to a property that’s part of a long chain. If you can find a way to be chain-free – for example, by selling your property before buying the new one and living in rented accommodation in the interim – this could boost how appealing your property is to potential buyers who want to move things along quickly and move in as soon as possible.
11. Your property is hard to mortgage
Different types of properties have different mortgage requirements and roadblocks, which may be off-putting to potential buyers. For example, mortgage lenders can be less willing to lend on flats above shops, properties with a short lease or homes made of unusual materials. Talk to your estate agent to check if this could be a problem for your property and whether there are any extra steps you can take to alleviate the problem, such as recommending specialist mortgage providers or offering to renew the lease as part of the conditions of the sale.
12. You’re picking the wrong property buyers
Finally, to make it less likely that a deal will fall through, you can ask your agent to ensure buyers have a mortgage ‘agreement in principle’ proving that they can borrow enough money to pay you for the property. If you receive multiple offers on your property, look at the bidders’ circumstances as well as how much they’re offering. If someone without a chain (a first-time buyer, for example) is offering slightly less than someone with a property that needs to be sold, the chain-free buyer may be the safer bet when considering the surrounding circumstances.
By considering these potential issues you may be running into when selling your house, you can quickly resolve them and find success with selling your property. If you would like to learn more about how Keey can help you with managing your property, contact us today!