Why can’t I sell my house?
It’s a common question, without a simple response.
It can be for a number of reasons from the asking price and the quality of the estate agent that you’re using through to market conditions and more.
But why is the process so frustrating and what can you do to try and speed it up?
We outline our top tips below.
We all like to think that we’re sitting on a nest egg worth hundreds of thousands.
But what we think versus reality aren’t always aligned.
And it’s not a phenomenon that’s exclusively linked to our homes; we’ve all been there in an outrageous ensemble on a Saturday night thinking that we look a million dollars, only to recoil in embarrassment at the photos a few years later.
The truth is that anything will sell if the price is right.
So if your home has been on the market for months without any real interest then you need to take another look at the price. The house next door may have sold for more but they might have added an extension or installed a new kitchen and bathroom, so it’s unlikely that yours will get the same.
Approach a couple of local estate agents and get them to re-value your home. Make it clear that you want to sell quickly and need to secure a buyer within a couple of weeks so that they price realistically.
Your estate agent matters
Estate agents aren’t all made equal, and making the right decision could make or break your property sale.
Too many estate agents play the numbers game; in other words, they value your house high so that you sign up with them rather than working to a realistic number. So — don’t be flattered by the highest valuation, be realistic and savvy in your choice. For example, you need to look for an estate agent who knows your area, has significant experience in selling properties like yours, and has a good reputation for delivery.
Fees need to be considered too.
Online agents may seem a lot cheaper than their bricks-and-mortar counterparts but you’re on your own with no support in making the sale happen. Traditional estate agents charge more but will manage the process for you and therefore have a higher chance of delivering a sale.
Listening to feedback
As much as you love the patterned carpet and mural walls, it might not be to everyone’s taste. So if the feedback keeps coming back the same, then you need to address buyer’s reservations and make the changes if you’re serious about selling.
Historically speaking spring time was the best time to sell while winter saw buyers focusing on Christmas festivities rather than moving home. But times have changed and the market seems to be more fluid with peaks and troughs driven more by political turmoil and social trends than the season. In the last year, we’ve had Brexit and COVID-19 alone to contend with. So focus on getting the price right rather than worrying about the ‘timing.’
Is it time to consider other options?
One of the biggest problems with the UK property market is the uncertainty. Estate agents can only act as middlemen, with no real control over the process. Considering 1 in 3 sales fall through in the UK (costing the average home mover just under £3,000), even getting the right estate agent doesn’t mean that you’re guaranteed to move.
Estate agents aren’t your only option for selling though, and it may be worth looking at alternatives especially if you’re working to a specific timeline.
- Cash buying companies — a genuine company will be able to offer a guaranteed sale in a short period of time, something that just isn’t possible on the open market. They will offer less than market value but sometimes that’s a price worth paying for speed. If you live in Hull or East Yorkshire and want to find out more about this option, call our friendly team on 01482 655346.
- Auctions — it’s a gamble on the night; in other words, your home will either sell or it won’t. You’ve no control over price though, so you could end up with more or less than you want.
- 0% commission agents — few and far between, but companies like Rezee, are turning the property market on its head with fixed timelines and no selling fees. They charge the buyer a non-refundable reservation fee to guarantee the sale.