What’s Keeping My House from Selling?
Estimated reading time 6 minutes
Has your home been on the market for a while without selling? That’s a frustrating place to be! However, there could be some reasons your property isn’t selling.
We’ve put together several reasons your home may not be selling and how to fix them.
1. Expectations Not Realistic
Here, your expectations may not be measuring up to the reality of how long it really takes to sell a home. A term such as “a while” is subjective and can mean different things to different people. How do you measure “a while?” Is it two weeks, a month, or more? According to online statistics, it usually takes an estate agent from eighteen weeks to six months to sell a home or longer! This statistic includes the entire home sale process right up to handing over the keys. The average time to sell a home is usually between five and fourteen weeks.
So, it’s possible that your definition of “a while” may not measure up to the reality of how long it actually takes to sell a home. If that’s the case, it’s essential to set your expectations to match reality.
Solution: Make a Quick Sale
To make a quick sale in under five to fourteen weeks, then you may want to choose a cash buyer company. They make a cash offer on your home, guaranteeing a fast sale.
2. Asking Price is Too High
Another common problem that may keep a home from selling quickly is the asking price. If the asking price is too high, a homeowner will have a hard time finding a buyer. The reason is that the asking price is higher than the property's perceived value. In that case, buyers will not even book a viewing of your home.
In addition, if a home is priced too high and then the price is lowered, it can take longer to sell. You’d think it would be easier to sell with the lower price, but that’s not the case. Here, the problem is a potential buyer finding the home’s price has been reduced. They wonder what has caused this price drop.
For instance, is there some major wrong with the property? That thought alone will keep potential buyers away!
Solution: Consider Your Asking Price Before Putting Your Home on the Market
You can avoid this problem by considering the asking price before putting your home on the market. Before seeking the assistance of an estate agent, go online and search for similar properties in your area that are for sale. Look for properties that are similar to yours and write down the asking price.
This exercise can help you gain insight into a realistic offering price for your own home. Once you have this information, then you’re ready to seek out an estate agent. You’ll know right away if they’re saying your home is worth more than it should be, based on your research.
Finally, is there anything that makes your home stand out from others of about the same size? Do you have a larger garden? Do you have a garage when others don’t? If so, then you may be able to ask a little more for your home.
3. A Problem Estate Agent
Another common problem when it comes to selling a home is the estate agent. For one thing, it’s challenging to find the right estate agent when there are so many available. And then you have to decide if you’ll use a traditional high street agent or an online agent. What about a local or national agent? You can see what we mean! What’s more, each estate agent is an individual who has their own pros and cons. If you have an agent that’s not finding potential buyers, arranging viewings, and offers poor customer service, then your home isn’t going to sell quickly
Solution: Find a New Estate Agent
In this case, you may want to consider finding a new estate agent. However, be sure to read your contract with the current agent to see if you can cut ties right away or if you need to wait. When it comes to finding a new agent, you might want to check with family, friends, and colleagues. They may have used an excellent agent they’d be happy to recommend. Another great resource is AllAgents.co.uk. This is a website where you can compare reviews of clients to see if their estate agents have been rated high or not. You can gain more insight into the right estate agent for your circumstances using this site.
4. Ineffective Marketing
Another common problem that can keep a home from selling is ineffective marketing. What happens if your home doesn’t make a good impression with online or other types of ads? The ad needs to include high-quality photos of things a buyer would want to see. And it should include detailed information about the property, as well as its floor plan. If these aren’t available to potential buyers, then why would they want to book a viewing?
In addition, your estate agent should list your property on large portals such as Zoopla and Rightmove. If not, then your house will take a long time to sell.
Solution: Improve Your Home’s Advert
First, it’s necessary for a professional photographer to take photos of your home. Next, it’s essential for your home’s advert to be well-written. If the details aren’t correct, suggest changes to the estate agent and include details that may make your home stand out to the target market. Video tours are also popular online and can really help move your home!
5. Home Lacks Curb Appeal
When a home looks uncared for or in disrepair, potential buyers are sure to pass it by. When a home doesn’t seem in good shape, it’s more challenging for potential buyers to see themselves in the home. Selling will be a challenge.
Solution: Ask for Feedback
One solution is to ask for feedback from potential buyers who have viewed your home. They may offer insights into issues that you may not even realise.
For instance, if the yard is unkempt and full of weeks, this can put buyers off. Or if the exterior or interior paint is dirty and peeling, these problems can also put off potential buyers. So, ask for feedback and see if there’s something you’ve missed in your home’s presentation. Fixing these issues could speed up the sale of the property!
Summing It Up
This is not an exhaustive list of reasons that keep a home from selling. However, we hope it provides some insight into what could be keeping your home from making a quick sale and how to fix these issues!