We probably all would expect our home to sell rapidly in a smooth process after listing it for sale, but new figures show that is not the experience of nearly half of sellers.
A study by the online property website Zoopla has shown that 44 per cent of all UK homes listed on the market over the previous three years have failed to sell.
In any other business, this would be a shocking statistic. Just imagine 44 per cent of bread unsold in a supermarket, or nearly half of all cars produced never finding a buyer.
But in property, this is surprisingly unsurprising.
Getting the property on the market and reducing it later is a tactic that has been successful for many
|GETTY
In part the system is to blame. Sellers can put a property on the market for almost no cost, at any price they choose.
Many are overly optimistic and some are deluded, choosing to ignore the advice of online comparisons, their estate agent, or indeed reality.
Some estate agents can be held responsible – keen to win the business at any cost, they will often tell an owner what they want to hear.
LATEST DEVELOPMENTS
Getting the property on the market then reducing it later is a tactic that has been, in better markets, successful for many.
When all is said and done, it’s all about price.
Frustrated sellers saying, “My house just isn’t selling,” can be answered with, “Would it if you halved the price?”
These days with the online footprint of time on market, reductions chasing the market down and even previous selling prices all available to potential buyers, getting the price wrong at the outset is the kiss of death for a sale.
My tips for ensuring you get a sale are:
Set a competitive price - a correct price for your area will mean more interest from the outset and you will attract quicker offers. Research trends in your local market and seek a valuation from a well-established local estate agent.
Improve your kerb appeal - there’s nothing more off-putting than to be confronted with a house with peeling paint on windows and a generally tatty appearance. A tidy up outside and a lick of paint will do you a power of good.
Please write at least 4 paragraphs
Accepting visits from potential buyers during evenings and weekends
|GETTY
Prepare your home for sale - ensure your home is well-presented inside as well. Take care of minor repairs and de-clutter.
Get legal documents ready - gather together necessary paperwork such as title deeds, warranties, and planning permissions to prevent legal delays once an offer is accepted.
Be flexible with viewings - you can maximise your chances of getting a quick offer by accepting visits from potential buyers during evenings and weekends.
For more information, see: https://housebuyfast.co.uk
Our Standards: The GB News Editorial Charter