REAL ESTATE CLINIC: We have had our house on the market for months and we have many viewings but no listings, how can we get it sold?
- Overall, experts say no sale suggests a price cut may be necessary
- Price may not be the issue if you’ve had viewings
- Listen to buyers’ feedback to resolve any issues with the home
We plan to move and market our home in July at what we believe to be a reasonable price that compares favorably with comparable properties.
We’ve had quite a few viewings and good feedback, but no listings, which is frustrating as we keep reading about a mini boom in the real estate market.
In the meantime, we’ve seen other similar properties come up for sale and are on sale quickly.
Real Estate Clinic: Is There Anything We Can Do To Try To Sell Our Home?
We have a three bedroom semi-detached house in good condition with a decent sized garden in a town about 35 miles from London, in an area popular with families.
We have seen some places that we would really like to buy but have not been able to make any offers as we are not listed ourselves.
Do we just need to be more patient, or is there anything we can do to try and get our house sold?
MailOnline Real Estate Expert Myra Butterworth said: In general, if you are not selling your home, it is often because you are asking too much money for it.
Sellers often fall into the trap of thinking they know a home’s worth, but it’s the buyer who has the final say. They will decide what price they are willing to pay for the bricks and mortar in front of them.
If the price is right, they will overlook things they don’t like. And if the price gets low enough, someone will eventually see through the things that others cannot.
In this case, however, buyers clearly don’t think the price is uneven as they are still viewing the property. This is despite knowing the price tag well in advance – they don’t immediately rule it out based on price.
But once they look at the property in person, they obviously see something that makes other properties more attractive and you have to figure out what this and whether it can be fixed – otherwise you may indeed have to lower the price.
If you listen carefully to the feedback, it could be something you can fix quite easily, such as painting over a bright, lime-colored front door with a more appealing neutral, adjusting the room layouts, or doing some simple work to spruce up elements of your home. freshen.
Another thing to be aware of is that your online data does not oversell the property or hide anything that will deter buyers. Rooms that are made to look much bigger than they are, a house that seems to look out over fields but actually has a busy road running past it, or a small garden that’s big to look huge can add to lead to disappointment at viewings.
James Forrester, general manager of brokers Barrows and Forrester, said: There is a wealth of ‘tips and hacks’ that can make your home more attractive to buyers, but the bottom line of a slow sale is often due to price.
The fact that you are receiving interest is a positive sign that you have priced at a reasonable threshold and that your ad is of adequate quality and seen by the right type of buyer.
However, there may be an underlying issue that viewers don’t reveal in their feedback. This could be an overlooked garden, the road might be just a bit too busy, or there might be an aesthetic problem putting them off.
Push your agent to dig deeper into the feedback phase to find out what the problem is, or take over this job personally at the end of a viewing. Only then can you try to deal with it, and more often than not, some element of price compromise could be the answer for a potential buyer.
A top-line price cut through may not be necessary and this should be approached on a per-viewer basis depending on their hesitations.
A few thousand pounds less could make that road a little less noisy or cover the cost of that aesthetic change, and it’s a small price to get moving.
A top-line reduction in the asking price through may not be necessary to get your house sold
Buying broker Henry Pryor said: There’s a market – you can buy and sell, but you can’t get a premium price or bargain – at least you can’t yet.
The asking price is part of the marketing, it is meant to get people to come and see the house. Like a price tag on a jacket in a store, it should be big enough to feel like you can afford it as a treat, but not too cheap to worry about the welfare of the kids who must have made it!
If you’ve gotten viewers, then the price has done its job and your broker needs to figure out why these buyers didn’t bid. Did they bring the wrong people around?
It doesn’t sound like lowering the price is necessary. What you may need to look at is the marketing. Do the photos give people a fair idea of what to expect when they visit? Do they find something unexpected? Road noise? Spill or smell?
You never get a second chance to make a first impression, so double check that the house and garden are clean and tidy. You want people to go out and talk about how they would live in the property and not the ring around the bath.
Be brave and be honest with yourself. Find out why the people watching it aren’t even making a bold offer and take action based on what they say.