Sunday, 18 November 2018

What to do when your home is not selling

WAITING for your home to sell can be incredibly stressful — even more so if it has been on the market for a while and the property just isn’t selling, writes Lucy Boon.

So make sure you’ve got these areas covered to attract potential buyers:

1: Get an up-to-date valuation

The bottom line is that it all comes down to the price. If you’ve got the presentation right and your home ticks all the boxes but falls in an unrealistic price bracket, buyers are going to opt for something else.

2: Be prepared

Make yourself available at all times and nurture a close relationship with your agent. Agents work hard and do their best in the time they have, so keeping in touch will keep your property at the forefront of their mind.

3: Try an open day

This is one of the best ways to drum up interest. Make sure your estate agent organises this directly. They are experts at setting this up and managing it and will be able to guide visitors around your property the most effectively.

4: Choose the right estate agent

Finding the buyer is only part of what an estate agent will do. A dedicated agent will go above and beyond expectations and be your eyes and ears, as well as actually getting the sale through to completion. A good agent will also take the initiative to try something new if what you’re currently doing isn’t working.

5: Try an auction

If you’re really keen to sell quickly some of Henley’s agencies can offer this. Property auctions are transparent and secure with no hidden catches. Contracts are generally exchanged at the auction and these events are usually attended by investors and developers who are ready to go. As long as you set a realistic price, your property should be sold by the end of the auction.

6: Re-evaluate your view on what you think your house is worth

If a house isn’t selling at your price and has been on the the market for more than a year then it’s overpriced.

7: Compromise

If you won’t settle for a lower price, then you’ll have to meet in the middle to help a buyer get there. Be prepared to replace a tired kitchen or cosmetically update your property.

People want value for money and won’t want to spend a lot of money on a house that needs work. Not convinced? Then be prepared to lower the asking price to reflect all the work which buyers will have to do.

8: Be prepared to rent

If you get a seller for your property but can’t find a house yourself, move into rented accommodation to make sure your sale goes through on time.

Remember that the best buyers are those who have already sold their house and are effectively cash buyers. You’ll be in a stronger position when you finally do find your dream house.