There can be a number of reasons that your property didn't sell last year. Some properties just take longer to sell than others. I find as I speak to clients who have previously marketed with other Estate Agents, that quite often the Agent has lost interest and communication has stopped or totally broken down. Selling your property with an estate agent should be an ongoing relationship built around good communication, honesty and trust. if you feel like you've hit your property stalemate then try looking at some of the common issues that I have encountered recently.
1. Is your property priced correctly?
It still amazes me how many Estate Agents do not know how property search engines work and in particular, Rightmove. They are unfamiliar with the pricing brackets and set a price that does not reflect how and where you property is displayed in a Rightmove search. If the pricing brackets are not factored into the asking price this could prevent a whole audience from ever seeing your property. Ask your estate agent to explain how the price banding works on Rightmove and how it affects the audience that see your property. This is basic marketing that so many get wrong.
2. Hows the description?
Your property should be described as accurately as possible by the Estate Agent. Again it's basics but over recent months I have seen agents getting even this basic of basics wrong. For instance listing a property as having 4 bedrooms when in fact one of the rooms falls below the legal requirement of such a room or listing a mid terrace as a semi detached. Imagine how many people you either discount from search results or disappoint when they come to view.
3. A picture paints a thousand words
Did your agent just turn up, point a camera and shoot? or did they work with you to ensure the property looks presentable. Do your photographs reflect the best of your home? An un-made bed, a bin left on the drive from bin day, the roof cut off the top of your property or a pile of dirty dishes in the kitchen sink isn't going to sell the dream that a buyer imagines. These are small details that I feel make a huge difference. If you aren't happy with the photography of your home for sale then ask your agent to come and take some fresh shots. Remember we work for you.
4.What else is for sale in your area? Are you competitively priced?
Your Estate Agent should be keeping an eye on the competition. What makes your property different from the others for sale? and is this reflected in the marketing? if you want to sell in a reasonable time frame then your home should be competitively priced. What is the ceiling price in your area? what have other similar properties sold for recently? Sold house prices are easy to obtain and instantly available online. People have often done their own research before picking up the phone to request a viewing. Like selling anything if the price is too high it just won't sell. If in any doubt get a second opinion, discuss property prices in your area since you listed.
5.Where is your property advertised?
The two big property portals Rightmove and Zoopla are a must. But are your agents using social media? This should form a big part of a modern marketing strategy.
6. Are you getting feedback?
This is so important. How can you expect to put something right or know why your property isn't selling if you aren't getting the feedback following a viewing. Your agent should be pursuing your viewers and getting honest feedback. The biggest annoyance from clients who previously marketed with other agents is exactly this. No feedback and no communication. Eventually the communication completely breaks down and it's months before they hear anything from their agent again. I always aim to contact my clients at least once a week even if there has been no movement on their property and always following a viewing.
Sometimes your home may just take a little longer to sell because the right buyer hasn't come along yet. Unique properties such as large family homes may take longer to sell than the more traditional 2 bed terrace or 3 bed semi detached properties, simply due to market demand.
If you want to discuss any aspect of buying or selling a property then please give us a call on 0121 679 5187 or email:info@chambersproperty.net
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