Approximately 28% of all the homes available on Rightmove have been on the market for more than 6 months. There are also around 8% of properties that have been on the market for more than a year. Last year, the number of properties on the market for 6 months was at 26% and the year before it was 27%.
This is an improvement from 2012 when a staggering 40% of properties were on the market for least 6 months. In that year, 1 in 5 houses was still on the market after a year. According to experts, if your property has not sold after several months there could be low demand in your area because of the local market conditions.
However, if other properties are selling and yours is not, your price might be too high or the property has limited appeal. In very bad situations, your home could have both of these issues. In these situations, instead of dropping the price, you should consider increasing the appeal of the property if you have the available funds.
This can be done by refitting the bathroom or kitchen. As these are two of the most important rooms from the buyer’s perspective, it will improve the appeal. If you can, you might want to reconsider the layout of the property or plan an extension.
It is also possible that redecorating your home in neutral colours and redoing the garden could be all you need to make a sale. If there are serious issues such as heating and wiring problems or rising damp, it is best to reduce the price to allow for the repair costs the buyer will have. If you do this, your agent should clearly state on the listing that the price has been adjusted accordingly to ensure that buyers do not try to negotiate a lower price.
Tips To Sell Your Home
Do Not Rush
You should not rush to get your property listing online if you know that not everything is ready. 70% of the interest in your property will occur during the first 2 weeks. This means that you should not have any placeholder pictures or descriptions or no floorplanusketch. This will cause you to miss the best time to make an impression. A great online listing will have at least 5 pictures, a well-written description and a floor plan.
The first few seconds when a buyer sees your home is when they form an opinion. To ensure a good first impression, you need to give your property kerb appeal. This will include painting the door, tidying the garden, and getting your hanging baskets out.
Use All the Tools at Your Disposal
A professional photographer will be able to highlight your property in a way that you cannot. These pictures will also stand out from the crowd. You can also use Rightmove’s instant alerts to keep an eye on your competition.
Remove the Clutter
A buyer will want to imagine himself or herself in your property. This can be hard when your walls are full of family pictures. It is recommended that you remove any personal clutter from the house and make it is neutral as possible.
Consider the Animals
When you have a viewing of your property, you need to ensure that your pets are somewhere else. If you have a cat, you should also put their litter tray away. Not all viewers will like your pets and you need to consider this.
Listen To Your Agent
Your estate agent is there to provide you with honest and impartial advice. This advice is something that you should take on board when you prepare your home for any viewings and for sale.
When you have a viewing, you need to be as accommodating as possible. This is particularly important when you have an open house. You should consider leaving this to your agent and go out for the day.
Consider the Price
The strategy that you have for selling your home will affect the price you ask. You can improve your sale odds by doing your research and pricing your home competitively. You should also brace yourself for negotiations with buyers.