9 things you can do when your home isn’t selling…

9 things you can do when your home isn’t selling…

Unless you live in or around London, I bet you cringe when you hear about house prices rising and properties selling like there’s no tomorrow if you have had your home on the market for a while and it just isn’t selling.

As we all know, the housing market in London and the South East is very different from most of the rest of the UK right now. Especially if you are in the North of England, Northern Ireland, Wales and many parts of Scotland.

So what can you do if your house just isn’t selling?

Here’s a list of 9 suggestions you should try:

1. Market it at a price that it will sell at

It’s reality check time. Estate agents usually overvalue a property in order to win your business and get the listing. They will then typically come back to revalue the property at a later date, by which time it is too late to change Estate Agent.

This is one of the most common reasons why houses aren’t selling. As an example, most areas in the North of England prices dropped to, and still are, at 2005/early 2006 levels. Yet many homes there are for sale today at significantly higher than 2005/2006 prices.

What you should do…

Get a range of valuations from different estate agents, and also check a House Price Index for information about the trend of house prices in your area. You can also look online for free valuations and, more importantly, to see what value similar properties have sold for in your area. Once you have all this information, pool it together to see if the asking price is too much for your house.

Like every market, there is a market value for your house. Price it right – and your chances of selling go up significantly.

2. Make it stand out from the crowd

You’re probably competing with a lot of people who have similar properties for sale. If your house has a fantastic garden, or higher quality fixtures, or great decor, it can stand out.

Make it obvious what features make your property special, by including really good photos, explaining it in the description and telling anyone who comes to look round.

3. Home Staging

One thing that you can consider is using a home staging service. They will dress up your home so that it becomes more appealing to viewers, and it can really help to make your property stand out. You can also get some great pictures that will help catch the attention of anyone looking at your property online or in an Estate Agent’s window.

Here’s a before and after example of how Home Staging helps:

livingroom

4. Better Photos

Another way to sell your home is to hire a professional photographer to take some really good pictures of your home. Not only will this help to make your property stand out, but it will also be likely to help you get more viewings – especially from people searching for properties online.

If you can’t afford a professional photographer, make sure you have taken the best photos you possibly can (remove clutter, make sure it is tidy, use lots of light etc.)

5. Wait for values to rise

If you can’t afford to reduce the asking price and none of the above suggestions apply, then the best thing you can do is either take the property off the market, or leave it on and hope for the best.

With the potential of London centric price rises beginning to spread across the UK in the next year or two, with time your ‘required’ price may become the market value. This will obviously only apply to you if there is no urgency placed on you to move house.

6. Change Agents

Another idea is to speak to different estate agents about marketing your property. If your current one isn’t very active, then you may want to think about looking elsewhere, if anything this may bolster your current estate agent into action. It would be worth speaking to a few estate agents to get their opinions on how the market is doing in your area.

7. Option Agreements/Deferred Completion

Even if you have no/negative equity there are ways of structuring deals that enable you to move on, using Option Agreements or Deferred Completion. All completely above board and legal.

This is a complicated area, but to find out more visit this page.

8. Managed Sale

If the house needs “help” to sell, a managed sale where the property’s value is enhanced and then sold at a higher price could work.

9. Auctions

Listing your property at an auction is a tactic that can work, but in general achieved prices are lower than you’ll get via an Estate Agent and there’s no guarantee it will sell. You may get lucky though if a bidding war occurs!


Related posts:

Can you trust quick cash buyers?
Selling your house? No offers? Why you shouldn’t reduce the price of your house!
Want To Sell Your House? Price It Just Under The Market.

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