There are many reasons why homes don’t sell. In this article Amy Fowler looks at five of the most common reasons and what you can do about it. ~ Tim McMahon, editor
Price
This might seem so obvious that you write it off as a potential problem, but overpriced homes are more common than you might think. Often, Real Estate agents will overestimate the value of your home so that you choose them to sell your house, as opposed to a rival who has priced it more realistically.
In addition, estate agents will use examples of overpriced homes in order to encourage the sale of cheaper yet similar homes in the area. Be sure you know the value of your home and price it realistically.
It’s too ‘you’
Potential buyers need to be able to envision themselves living in the home. If the property is decorated according to
your eclectic tastes, and filled with pictures of your friends and family and souvenirs of your trips abroad, buyers will struggle to see the building as anything but yours.
Remove any personal clutter. Bin it if needed otherwise kindly ask a friend to store it for you. In fact, remove as many of your belongings as possible; the neater the home, the easier it will sell. In addition, if your walls are papered, remove it and paint in a neutral colour.
Your fittings are worn
While it matters little if your sofas and chairs are showing signs of age, buyers greatly appreciate a newly renovated bathroom and kitchen. In fact, anything in the home that will be staying should be in the best condition possible. Invest in new oak doors, or if budget won’t allow, wooden doors that are finished to give the appearance of oak doors. Spend what you can on your bathroom and kitchen. New bathroom suites can be purchased for a relatively low cost and simply replacing your kitchen cupboard fronts can give the room a whole new lease of life. Use the internet to find what you need at the best price.
Location
When someone’s looking to buy, location is often their number one priority. Your home might have five bedrooms, four bathrooms, a games room and oak doors throughout, but if it’s in the wrong location interest will be minimal. Many home-buyers are young families, meaning they want to be near to good schools. They’re also after good local amenities such as shops and transport links. What’s more, no-one wants to live in an area where burglary and anti-social crime is high. If your home is suffering with any of these disadvantages and it’s not selling, you’re going to need to drop its price. People will buy in less than desirable areas, but they’re going to want to pay much less to do so.
Your agent isn’t pulling their weight
Most agents will work hard to sell your home, simply because they want their cut of the commission. However, there are bad or just plain lazy agents around so if you’ve investigated all other avenues and your home’s still on the market, you may want to look at the effort your agent is putting in. Good agents will be on time for viewings, have a great knowledge of your home and an ability to ‘sell’ it in the best way possible. They’ll point out the high ceilings, large windows and oak doors and have clever ways to talk up the small bedrooms or north facing garden. They’ll also have multi-level marketing plans. Your home should be in their window, on their computers and on the internet. If this isn’t happening, drop your agent and go elsewhere.
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