Waiting to sell your house can befrustrating.
This is especially true if no one is viewingit!
The blog below outlines some of the common issues and provides practicalsolutions.
How long do most houses stay on the market?
In the UK, houses typically stay on the market between 30 to 60 days onaverage.
However, this figure varies widely according to several important factors. In some particularly popular markets, sought-after properties can sell within aweek.
And in slower markets, some properties can remain listed for several months or evenyears.
Reasons for houses not selling
1. The asking price is wrong
Potential buyers won’t view your property unless it is reasonablypriced.
When pricing your property, your estate agent shouldconsider:
- Housing market conditions
- Your house’s condition
- Local amenities
- Selling price of similar properties in the area
andmore.
If you’re uncertain about your asking price, speak to an impartial property expert. They can can provide an unbiasedopinion.
Additionally, you can research the selling prices of similar properties in yourarea.
2. Lack of curb appeal
You should consider your house’s curb appeal when listing it on themarket.
This means the property’s appearance from the outside.
In other words, how it looks online listings, your brochure, and – of course – when people walkby.
And if you choose the right estate agent, they should be able to guide you onthis.
Ways to improve your curb appeal
- Mowing your lawn
- Trimming your hedges
- Getting rid of unattractive weeds
- Make sure your driveway looks good
- Fixing broken windows or doors
- Putting up new fences if your current ones are falling down
Your property’s appearance from the curb should also be considered with a ‘For Sale’ sign at thefront.
People can only book a viewing if they know you are selling. So, a sign out front can grab passers-by’s attention and increase yourviewings.
3. You aren’t using the right estate agent
Your estate agent is one of the biggest influences on the number of viewings youhave.
After all, it is their job to market the property and get people through thedoor. This includes using:
- Their brochure
- Online listings
- A ‘For-Sale’ sign at the front
- Their network of potential buyers in thearea.
But some estate agents may be inefficient. Others may simply bedishonest.
You should regularly follow up with your estate agent. This helps to guarantee that you staytop-of-mind.
Some sellers choose an estate agent that does not charge a drop-out fee. This gives the seller the leverage to threaten to walk away (and use a rival estate agent instead) if they wantto.
Other dangers are also involved with using the wrong estate agent, suchas:
- A higher likelihood of a chain breaking down
- Miscommunication cropping up throughout the selling process
- The deal taking longer to go through.
4. Poor photography
Photography is a significant part of your marketing efforts. Your estate agency must get thisspot-on.
Your photos will ideally be taken when the sun is out and when you (the owner) have considered more minor details. These include removing clutter, cutting the grass,etc.
If your property’s current pictures do not yield results, try newones.
5. Unsolved legal issues
Unresolved legal issues may be scaring peopleaway.
For example, potential buyers may have second thoughts if:
- The property is tenanted
- Has an outstanding serious neighbourly dispute
- Has unclearborders
- Is occupied by squatters.
Your estate agent may have to describe these challenges in property listings.
This might prevent people from calling up to arrange a viewing in the firstplace.
It’s worth considering how this information is being presented to potential buyers. Then you can find ways to resolve the legal problems.
If you have not adjusted your asking price to reflect the legal issues, you may need to consider this,too.
6. Nearby developments that are turning people away
Potential buyers want clarity about the property they are buying.
If local factors are still ‘up in the air’, this may stop them from viewing thehouse. Examples include:
- A main road will be built nearby
- New lighting installation will shine through one of your windows
- Parking restrictions will be changed
or countless otherexamples.
Any uncertainty surrounding local developments or laws could give potential buyers coldfeet.
The sooner you can get clarity on these issues, the better. Otherwise, you may have to bring down your asking price tocompensate.
7. Market conditions aren’t favourable
Market conditions are not just a cliché. They are a significant factor in property marketactivity.
For instance, high interest rates and expensive mortgages deter people from upsizing. This poses challenges for those selling largerhouses.
Similarly, economic downturns decrease buyer confidence and slow down the propertymarket.
Local conditions matter, too. A buyer’s market can appear for many reasons. A slow market more generally also presents uniquechallenges.
If you want sell your house as quickly as possible, you may need to reduce your price. It may need to come in line with – or even under – marketconditions.
Before deciding, you should speak to your estate agent or a propertyexpert.
8. Your lease is too short
Most people need a mortgage to purchase a house.
After all, when the gap between property prices and the average salary is enormous.
The length of your lease (on a flat) issignificant to buyers looking for a mortgage.
When your lease falls below 80 years, lenders are unlikely to offer a mortgage on it. This means that unless someone is a cash house buyer, they may be unable to buyit.
Your estate agent usually clarifies this information on property listings. It prevents viewers’ (and your) time isn’t wasted through pointlessvisits.
Alternative options to selling on the market
There are alternatives to selling your house on the market. We Buy Any Home provide the fastest of thesesolutions…
We are cash house buyers that can directly and quickly buy your house. We can help you if you are having difficulty selling – whether due to a lack of viewings or if your house sale is likely to fallthrough.
