January 3, 2024
No-one wants their property to linger on the market. Not only does it delay when you can move to your new home but when properties take longer than average to sell it also affects their value meaning you will not receive the best possible price for your property.
When a property has been on the market for a long time, many potential buyers assume there must be a serious problem with it. It’s only human to be put off of something that other people don’t like. When a property has been on the market for a longer period of time, many buyers feel that those buyers, who saw it but weren’t interested, must know something about the property that they don’t, and so many don’t even choose to go and see it.
Estate agents consider a listing to be ‘stale’ after 90 days. So what can you do if your property isn’t selling?
Good Neighbours
Sometimes the state of your neighbours’ properties can put potential buyers off. Make sure that you are diplomatic when discussing your concerns with your neighbours. Polite communication and collaboration can help to enhance your property’s kerb appeal and create a positive impression.
Parking Problems
Struggling to find a place to park can put viewers off. Eliminate this problem by either leaving your driveway free or by enlisting your neighbours’ help to ensure that there is a free space near your property whenever you have a viewing.
Timing is Important
Try to book viewings during daylight hours so that your property benefits from being bathed in flattering, natural light. Avoiding bin day and rush hour also ensures that your neighbourhood will be looking its best.
Create Competition
Booking two viewings next to each other creates a subconscious feeling of competition between the potential buyers and human nature means we always want what someone else has.
Price Properly
Zoopla conducted research on the effect of the initial price properties were listed for on their final sale price. They discovered that properties that were overpriced can take on average two months longer to sell than properties that start with a realistic sale price.
One of the key filters on property websites is price, so if your property is overpriced, fewer people are going to see it and those that do will be comparing it, likely unfavourably, to others in that price bracket.
Inevitably, you will have to lower your price as your property remains unsold. Buyers, however, are always more interested in seeing properties that are new to the market, as they believe that there must be something wrong with properties that have been on the market for a while.
Update your Listing
Ensure that your photos don’t date your listing. If they were taken in the summer consider asking your estate agent to retake them in order to ensure that they reflect the current season so your listing doesn’t look stale.
Share Interesting Details
Potential buyers often like to hear about the history of their potential future home so feel free to share any interesting stories that you have. Highlighting positive aspects of the neighbourhood can also help to create a positive, lasting impression.
Targeted Interactions
Ask your estate agent to gather information about potential buyers so that they can tailor the focus of their viewings accordingly.
Choose your Estate Agent Carefully
Choosing the right estate agent is the most important decision you will make when selling your property. The estate agent you choose will affect how long it takes to sell your property, how much your property will sell for and how smoothly the sale goes.
If you would like to know what we do to help ensure that the properties we sell do not linger on the market please give us a call on 01522 694775 or send an email to northhykeham@lovelle.co.uk.