Why Isn’t Your Property Selling in Coventry?

The process of selling your home should be straightforward, swift, and simple, but, unfortunately, this isn’t always the case. In an ideal world, you would receive multiple offers at and above asking price, and have your property sold within your expected time frame, but with so many factors at play, particularly in the current market, this has become more infrequent of an outcome. As the vendor, it is important to be aware of certain things that could prevent the sale of your property, so we’ve compiled a list of some possible deterrents for you to evaluate whether they resonate with you and your property.

Overpricing

First and foremost, if your house has been sat on the market for longer than anticipated, you will have to consider that it may be overpriced. Unfortunately, this is a common occurrence, and the main culprit for incessant price reductions on a property. Your home becomes your pride and joy, so it can be difficult to part with the optimistic figure in your head, but it is important to have your property professionally valuated, at an accurate standard which will reduce the likelihood of you needing to reduce the price on your property. Ensure it is a price you are comfortable with, and that you receive a second opinion, to avoid an unanticipated halt in the process.

Kerb Appeal

You only have one chance at a first impression and proving that your home is exactly what the buyer is looking for, begins with the exterior. It’s important to detach from your property and place yourself in the buyer’s shoes when determining if any improvements could be done to make your house more inviting to others. Does your front door need a fresh coat of paint? Are there any weeds in need of trimming? Do your windows need a clean? Simple improvements like these could be the difference between a speedy sale, or another week on Rightmove, so it’s worth looking at similar homes in the area and identifying what makes them appealing, and whether this is something that your property needs to work on.

Clutter

We all have clutter that we leave around the house, and if you’ve happily lived in your home for many years, they probably have designated spots in each room. However, when marketing a home, the buyer must be able to envision themselves living there, and you have to ensure that the room is clear, mess free and a neutral canvas so as not to distract from the best features of the property. Stow away any kid’s toys or clothing and basic things like made beds, and dusted surfaces, will make all the difference.

Key Features

People will be using specific key words in their search for a property, in order to avoid wasting time scrolling through homes that don’t meet the criteria they require. If your listing hasn’t stated details about the garden, conservatory, parking, or other features that may accrue interest, you could be missing out on buyers. It’s definitely worth revising the description set for your home as it may not be highlighting the features that will sell your property. To develop on the pricing tactics discussed earlier, if your home is marketed at £300,000, for example, you will not be visible to those searching for properties in the £200,000 range and below. As this is a key feature, discussing a smart drop to £299,995 could be a worthwhile conversation to have with your agent as your property is still being marketed at an appropriate price range but is now reaching a much wider audience of potential purchasers.

Market Speed

As a result of the increasing rise in mortgage rates and the effects of the economical crisis in Britan at the moment, many have had to turn away form the property market as they have been unable to afford the costs of their current homes, let alone buying a new one. With many also lying in wait for rumoured price crashes, it doesn’t seem like there are many looking to buy, at least not through the traditional private treaty route. If it isn’t feasible for you to take your property off the market or wait out this lull period, your agent can discuss alternative options with you. This could be lowering the price, or proceeding with auctioning your property, which can provide the sale you need at a price you can be comfortable with.

If any of these points struck a chord with you, it may be time to make a change. It can be terribly frustrating watching a property that you have loved living in, or owning, struggle to receive the attention that you were hoping for, but it’s vital that you are persistent as the right buyer will come along. Make sure that you have made the relevant steps to remove any hindrances so you can be confident that you and your agent are doing the best you can to get your home sold.

Maya