According to one major online portal, the average time to sell a home from when it’s first marketed is 185 days. Put differently, that’s 25 weeks, or slightly less than six months. In some cases, of course, it could take longer, plus there will be regional variations.
RICS recently reported that the UK sales market could be stabilising towards a flatter picture, due to potential ongoing uncertainties. Meanwhile, figures from lender Nationwide suggest that yearly house price growth dipped in August. So some vendors could have to work a little harder to sell their property in the coming months.
If this seems to be happening to you, what can you do to spark interest if your place has been on the market too long? In fact, you have more options than you may have realised. For example:
- Reassess your target market
Are you sure you’re targeting the ideal demographic for your property? Look again at the appeal of your house or flat – who is your ideal buyer? Should you aim, for example, at young families, older downsizers or couples? Tailor your strategy to accordingly and you may start to see results.
- Are you being flexible enough around viewing times?
Ideally, you would make it as easy as possible for people to come and see your home. If you’re not already offering evening and weekend appointments, try and do so.
- Consider offering incentives
With the current UK property market seemingly pretty much a buyer’s one, offer a little more than the competition. Perks could include providing a home warranty, or some furniture or domestic appliances with the sale. You may be pleasantly surprised at what a difference this can make.
- How about renting out?
Clearly, the property market is changing all the time. If your home isn’t selling, talk to your agent about letting it out instead. That way, you can be making some money from the empty flat or house, before you it back up for sale after, say, a year, by which time things may be different.
- Think about taking a break
If the house isn’t selling, could you consider taking a short break? It can sometimes be a good idea to withdraw the listing in the short term while you reassess your approach and strategy, before you return to selling with renewed purpose and vigour.
- Look at pricing again
An over-ambitious asking price is one of the most common reasons for a sluggish sale. So it may be worth having a frank conversation with your agent about adjusting this, bearing in mind that the change in price needs to be quite significant to make a difference.
- Look at your property through fresh eyes
Have you really made your home as appealing as possible (both inside and out) to potential buyers? Focus on high-impact areas like the kitchen and bathroom and any work generally that needs doing. Is there anything you could do to boost the appeal of the place as viewed from outside, to create the best possible first impression?
Talk to Carter & May
Carter & May is the leading independent estate agent in Salisbury and the surrounding areas, handling sales, lettings and buying homes. We all live in and love our part of the world, encompassing Amesbury, Fordingbridge, the New Forest, Ringwood and Alderholt, and know it well.
What’s more, we offer more than 150 years’ combined industry experience. So get in touch if your property isn’t selling, or if, for example, you’re disappointed in the lack of progress with another agent. We’ll offer clear-eyed, honest advice about why you’ve not had a sale and, crucially, what you can do to put things right.