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Why hasn’t my house sold after months on the market?

Why hasn’t my house sold after months on the market?
October 25, 2024

Why hasn’t my house sold after months on the market?

It can be frustrating when your property lingers on the market for months on end. Especially if your house move depends on the sale of your current home, it can feel disheartening when it feels as though you’re thwarted at this first hurdle. 

The factors that made you want to move to begin with start to change from niggling annoyances to major issues. Whether you’re moving to access more space for a growing family, to be closer to work and school, to downsize your mortgage payments, or to free up cash from an investment property, feeling stuck in a property when you’re ready to move on can exacerbate existing problems.

An experienced estate agent, like Simon Blyth can work with you to identify and resolve the issues that might prevent a sale — and get your house sale moving.

Pricing Issues

Pricing issues are some of the most common problems when it comes to a property lingering on the market.

Overpricing the Property

We understand the temptation to ask for a price at the top end of your property’s valuation. Especially if you’re relying on the sale to move on to a bigger and better property, it seems like common sense to ask for as much as you can.

However, an inflated asking price can deter potential buyers. There may be an expectation that some negotiation will take place, and buyers will always try to get a good deal. 

A competitive price based on market analysis is essential to make a sale. Unfortunately, buyers aren’t interested in what you bought the house for, how many improvements you’ve made to it — or how much you need to make your next move.

Price Reductions and Their Impact

It is also important to make any price adjustments strategically. Multiple price reductions can negatively affect the perception and interest of buyers, giving them the impression that there may be something wrong with the property. 

Review and adjust the asking price only every three months and by 5-10% each time.

Presentation and Staging

We might know that we shouldn’t judge a book by its cover — but that doesn’t mean we don’t. Presentation and staging matters when it comes to selling your property.

The Importance of Curb Appeal

First impressions have a huge impact on a prospective buyer’s interest. Pulling up to a property, buyers want to imagine their lives here — or to imagine an idealised version of their lives: one where they keep the lawn manicured, the windows clean, and the front door pristine.

Tips for improving the exterior appearance of the home:

  • Add a lick of paint — either to the entire exterior, if it needs it, or to the trim around windows and doors
  • Upgrade your front door
  • Clear and power wash the driveway or parking space and any patio
  • Tidy the lawn, flowerbeds and shrubs by mowing the lawn, pulling up any weeds, and trimming bushes
  • Add outdoor lighting, heating, and furniture — especially if the garden is a feature, show viewers how they could use the space
  • Make any repairs needed to roofing, fencing, sheds, etc. 

Interior Staging Mistakes

The interior of the property can also leave a huge impression on potential buyers. It’s the small details that can make a house a home, so remove clutter and personal items, and upgrade to neutral decor to create a blank canvas for prospective buyers to picture their possessions fitting into. 

Recommendations for making the home more appealing to potential buyers:

  • Declutter and remove personal items for photography and viewing
  • Deep clean the property — you might hire a professional cleaning company to give it a once-over
  • Neutrally redecorate with white or cream walls and minimal furniture
  • On viewings, maximise natural light by cleaning windows and opening blinds or curtains
  • Add fresh scent for viewings with air fresheners or reed diffusers

Professional Photography and Virtual Tours

High-quality images and virtual tours play an essential part in attracting online interest. Prospective buyers want to be able to see as much of the property as they can from the comfort of their own home, and we are visual creatures. Cluttered, poorly lit photos can put us off even the most perfectly suited property.

Engaging a professional photographer can be a quick and cost-effective way to enhance your property listing.

Marketing and Exposure

You want to get your property in front of the right people at the right time — and that’s where marketing comes in.

Ineffective Marketing Strategies

Marketing can make or break your property sale. By neglecting marketing channels and going after the wrong audience, inadequate marketing limits exposure to potential buyers — and interest in the property.

At Simon Blyth, we use a comprehensive marketing approach:

  • Local: Glossy brochures, local offices covering a 1500 square mile network, and property listings in regional publications.
  • National: Property listings in national publications and our in-house database of potential buyers
  • Online: Optimised online property listings on sites like Rightmove and OnTheMarket and on our own website, as well as a strong social media presence.

Targeting the Wrong Audience

It’s all too easy to attract the wrong type of buyers when marketing efforts are misaligned.

Whether your property is likely to attract first-time buyers, families, or retirees, whether it is likely to be an investment property or an owner-occupier home, and (crucially) what the budget of your potential buyer is, all come into play. 

Your estate agent can help you identify and target your property marketing to the right buyer demographic — to get your property listing in front of the people who actually want to buy it.

Online Presence and Listing Visibility

We’re living in an online world. Having a presence on property portals (like Rightmove and OnTheMarket) is a non-negotiable for selling property in this day and age.

Equally, a strong social media presence across the platforms that are popular and relevant to your target demographic can ensure maximum exposure for your property.

Market Conditions

Sometimes we come up against factors that are seemingly out of our control. Understanding market conditions and timing your property sale can help take back some of that control.

Understanding the Local Market

As well as understanding national property and housing market trends, it is essential to have a thorough understanding of the local market.

Buyer demand and competition can have a major impact on sales, and your local estate agent will be able to advise on how hyperlocal market trends may be affecting your property sale.

Timing and Seasonality

The UK is a highly season-dependent market, with the timing you list a property for sale potentially having a big impact on the likelihood of a sale, and even on price.

  • Spring: There is normally an increase in property searches and enquiries about properties in Springtime. This increases the likelihood of making a sale but may reduce price as there is more competition.
  • Summer: House prices are typically higher in summer, with more sales occurring in the hotter months, though property searches begin to slow down during the school summer holidays, lowering competition.
  • Autumn: In the colder months, house prices are typically lower, with fewer sales occurring. This means that there is likely to be less competition from other sellers in the autumn and winter months.
  • Winter: The run-up to Christmas can result in less demand for properties and minimal competition.

Working with the Right Estate Agent

Finding the right estate agent can make or break your property sale journey. 

Evaluating Your Current Estate Agent’s Performance

If you are having trouble selling your property, it may be worth re-evaluating your estate agent.

Are they the best fit for selling your property? Have they had success selling similar properties recently? Do they have local knowledge of the property market? 

Key questions to ask your estate agent about their marketing and sales strategy.

  • Is your property listed on major real estate websites?
  • Are they promoting your property on social media?
  • Has your property been listed in any local, regional, or national publications?
  • Are they using high-quality photos and videos to market your property?
  • Are they highlighting your property’s most in-demand features in listings?

The Simon Blyth Advantage

Simon Blyth Estate Agents’ have a proven track record in selling properties across West Yorkshire. We can provide a fresh perspective and effective solutions to help sell your home.

Conclusion

There are myriad reasons your property might not have sold after months on the market. Address pricing issues, ensure your property is well-presented and staged, and assess your marketing approach alongside your estate agent. 

If a slow property sale is causing frustration, reach out to Simon Blyth Estate Agents for a personalised consultation and tailored solutions.