Rightmove currently have 28% of property listings that are still on the market for more than six months and a further 8% that have been available for more than a year.
Last year, only 26% percent of properties remained unsold for over half a year and in 2017, the figure stood at 27%. This is however a marked improvement on 2012 when a staggering 40% of properties were still available after six months and 29% of properties were available for over a year.
Miles Shipside, the property expert at Rightmove, says that the failure to find a buyer after many months of marketing could be due to a declining real estate market or low demand in a specific area. On the other hand, if other houses are selling in the same area, the fault could be to an over-inflated price or a property that is simply unattractive to potential buyers. In some cases, both play a role.
However, Miles also says that re-evaluating the price is not always the best route and making a property more appealing can yield better results. Remodelling, renovating and updating the kitchen or bathroom creates the greatest appeal for buyers, and these architects in Farnham are ideally placed to help you increase the value of your house. If the structure permits, open-plan living and kitchen areas and en-suite bathrooms are the most popular features for home buyers. Adding to the appeal of a home could also be as simple redecorating. A new lick of paint in neutral tones and ensuring that the house and garden are clean and clear of clutter are simple solutions.
But Miles is also clear that the expense of repairs or a remodel should never exceed the potential value that it creates. If the cost of re-wiring, plumbing, a new roof etc. are excessive, it is better to consider dropping the price. The drop in price should however make accommodation for necessary repairs and the property listing should state that it has been priced accordingly. Following the expert advice from your estate agent as well as paying attention to feedback from home viewers will assist you in deciding which option is best to get your house sold.
To help move things along, we’ve put together eight tips to sell your house fast.
1. Don’t Rush a Listing
Make sure that your house is ready for viewing before listing it for sale online. Properties receive the greatest interest from potential buyers (about 70%) in the first couple of weeks of listing. Have quality photos (at least 5), a floor plan and descriptions available that target a specific market segment when listing.
2. Increase Kerb Appeal
Most buyers will create their first and most memorable impression of the property in the first few seconds of seeing it. Ensuring that your front garden and entrance are appealing will prevent potential buyers from driving by without ever taking a look inside your home.
3. Standing Out From the Crowd
Make use of all the tools at your and your agent’s disposal. Professional photographs can make a huge impact as can keeping an eye on the competition with the help of instant alerts from Rightmove.
It can be difficult for buyers to imagine themselves living in a home that is covered in personal belongings and family portraits. So de-clutter and make the space as impersonal as possible for viewings.
5. Pet Policy
Give your pets time out of the house for viewings and erase any evidence of pets such as the litter tray, food bowls and toys.
6. Take Advice
Your agent is an expert in their field so listen to the advice that they have to offer which is in the best interests of getting your home sold as quickly as possible.
7. Make Allowances for Viewings
If you are having an open-house day, go out and leave your agent to do their job. Try to stay out of the way and say yes to as many other appointments that are made to view your home.
8. The Right Price
Listing your property at the right price is critical to selling it quickly. On the other hand, how fast you want to sell your home will also affect your asking price. Doing some research into property prices in your area and pricing as competitively as possible will always work favourably.