The Top 10 Reasons why Houses Don’t Sell – You Must Read this!
There is nothing worse than being stuck with a property on the market that won’t sell, but surprisingly, there is usually a reason the house won’t sell.
It could be something to do with the house itself, the market, the estate agency being used or even your interior décor – but where there’s a problem, there’s always a solution! It’s worth remembering that, so don’t feel disheartened if you feel like you’re stuck in a rut with your property selling. We’re here to help!
Today, we’re going to be telling you in detail, the top 10 reasons why your house won’t sell – you must read this!
Right, so what are the Top Ten Reasons Why Properties Don’t Sell?
Before we go any further, we expect you’ll want to know what the top ten reasons property doesn’t sell actually are. The most common reasons why property won’t sell are:
- Your asking price for the property in question is entirely unrealistic. This is extremely off-putting for potential buyers. No one wants to be ripped off!
- You’re not giving a good first impression of the property you’re selling. First impressions really do count, especially in the world of real estate!
- If your kitchen is outdated or unattractive, this will put buyer off, as it’s usually a make or break for them.
- If your bathroom is also looking a little tired, this could be the reason why your house isn’t selling. It is one of the most functional rooms in the house, after all.
- If your colour schemes are questionable or remotely dark, it can make a property look far more unattractive than it actually is.
- If your estate agent isn’t working hard enough to get people to come and view your property, this will cause issues. After all, no viewings, no sale.
- You’ve chosen to sell your property at the wrong time. Whether that be dependant on the market, or the time of year.
- The photos on your listing are poor quality. Did you know that as many as ninety percent of home buyers begin their search online?
- Your overall presentation is lacking somewhat in the home. No one wants to move into somewhere that appears lived in, you know!
- There are repairs that need making on the property, and therefore people don’t want to commit to it.
So, very basically, those are the ten top reasons why you might be struggling to sell your property. The good news, however, is that each of them is solvable!
Now, we’re going to be taking a look at each of these issues in more detail, and suggest ways of combatting them.
Your Asking Price is Unrealistic, and is Therefore Putting Potential Buyers Off
The first on our list of ten reasons why your house may not be selling, is that if your asking price is unrealistic, then potential buyers will be put off automatically:
- This is potentially the number one reason your house isn’t selling – not just literally on our list either. It’s possibly the one that has the most impact on property sellers all around the country.
- Overvaluing your home might seem like a good idea, but it is in fact the opposite. If you put your property on the market with the wrong estate agent, for an over-estimated price, you’re just asking for trouble.
- If your house is priced incorrectly, you even run the risk of not actually getting anyone coming to view it. That’s how detrimental it can be to the sales process.
- So many home owners make this mistake, and yet you desperately need viewings in order to sell your home. Funny, isn’t it?
- However, it’s not only home owners and sellers that make this mistake. The number of estate agents who do also, is unbelievable.
- Consider this – some estate agents work on commission. Therefore the more business they acquire, the more money they’re going to make. What better way to gain business than to tell unsuspecting home owners exactly what they want to hear, even if it isn’t in their best interest?
- In order to gain the contract, some estate agents will actually manipulate you, by valuing your property for over what it’ll realistically go for on the market. Some of them may even do this just to make you feel good about your home – but trust us, it won’t help.
- Ultimately what will happen, is that you’ll have to drop the price of your home. We can not stress enough that if your home is overpriced, it will not sell.
- Furthermore, if you do end up having to drop the price because your property has been on the market for some time, then it will affect the sale further. Buyers automatically assume there’s something wrong with such properties, and therefore they’re less likely to view them.
- The bad news is, that most people will need to achieve a certain price of sale in order to pay off their mortgage and have enough left over to put a deposit down on their new home.
- Remember, that buyers don’t owe you a thing. They’ll only pay what they think your home is actually worth.
- The market, very simply, doesn’t work like this. The potential buyer will only pay the vendor or seller what they themselves perceive the property to be worth.
- Most, and even all homes will sell at the right price. For the wrong price, however, they won’t. It’s that simple.
- The only way of combatting this is by being realistic when it comes to your valuation.
- Be sure to ask multiple estate agents to value your home. Many will do it for free, so it won’t cost anything.
- You could even look at Zoopla, and see what similar properties in the area are selling/have sold for.
- Don’t just take the highest valuation. It won’t do you any favours in the long term.
You Haven’t Given Buyers a Good First Impression of Your Home
First impressions really are everything in the world of real estate, and if you haven’t given a good one, you could be in trouble:
- Showing off your house to its very best is absolutely integral to selling it.
- People make a decision very quickly whether or not they’re interested in a property, so the first impression you give really does count.
- For example, does your property need a coat of paint? Is your carpet looking old and worn? Is there clutter lying around? All of these can affect a sale.
- Stand in your house, and try to look at it from a buyer’s perspective. Seeing it through fresh eyes is entirely different to having lived in it for a long time.
- Another thing to consider, other than how the property looks, is how it smells. If you have pets and the property smells of them, then this is off-putting. You might love the comforting scent of your dog, but not everyone else will!
Your Kitchen is Outdated and Looks Grubby
If your kitchen is a tad grubby and outdated, then it’s likely that buyers won’t be as interested in investing:
- The kitchen is often thought of as being the heart of the home. Baring this in mind, it’s no wonder that it can therefore make or break the sale of a house.
- You should consider replacing your kitchen if it looks old or out of date.
- However, not everyone can afford to entirely renovate their kitchen. It is a pricy procedure, after all. If this is the case, you could consider sanding down, painting your cabinets, and replacing their handles, to give an overall newer and more modern effect. It can look incredibly different, and it won’t cost a bomb.
- If buyers aren’t completely put off by a grubby and outdated kitchen, then they’ll be likely to ask you to reduce the asking price for it.
- Furthermore, even a tidy up can make a difference. No one wants to see your dirty dishes!
Your Bathroom is Tired Looking
As well as the kitchen, a tired looking bathroom will put buyers off purchasing your home:
- This is the secondary room, after the kitchen, that can make or break the sale of your home.
- If the bath, sink and toilet are tired looking or an outdated colour, then buyers are likely to be put off.
- Again, they’ll either be put off completely, or will request that reduce the asking price for the property.
- You should consider replacing your bathroom if this is the case.
Your Colour Scheme is Dark or Questionable
If your colour scheme is remotely dark or questionable, then this could be the reason your home isn’t selling:
- Neutral colours are so important when it comes to selling property. Not only do they brighten a space, but they make it look bigger too.
- If you’re interested in finding out the latest colour schemes, then there are loads of forums and pictures online.
- Neutral colours help to sell property, so get your apron on and start painting!
Your Estate Agent isn’t Doing their Job Properly
If your estate agent isn’t working hard to get people through the door and viewing your property, this could cause problems:
- A good thing to do in this scenario, would be to switch your estate agent to one that’s been recommended to you by someone who’s used them before.
- It’s important to ensure that the agent is right for the kind of property you’re selling too.
- You could even check whether your current agent is being proactive, by asking a friend to ring them for you.
- Furthermore, always ensure they’re putting your property listing online too. Remember, 90% of buyers begin their search online!
You’re Selling at the Wrong Time
Believe it or not, there is considered to be a right and a wrong time to sell your home:
- Although a house up for the right price will sell in most markets, there is considered to be a right and a wrong time to sell your home.
- At the wrong time of the year, your property may not sell quickly enough. This puts your listing at risk of becoming stale, and ultimately could put buyers off your property.
- Speaking traditionally, the best time to sell is the Spring time, and the worst is the Winter. For obvious reasons!
Your Online Photos are Poor Quality
If you have an online listing, great! If the pictures you’ve posted are poor quality, that’s not so great:
- This could possibly be the first many impression that many are getting of your home (90%!), so if the pictures are poor, they won’t bother requesting a viewing.
- Ensuring your property looks as good as it possibly can on these images is integral to the success of your sale, so ensure you clean, tidy, declutter, and dress it appropriately before taking photographs. The difference some cushions and a throw placed neatly on a sofa can make to the overall appearance of the room is staggering.
- Furthermore, ensure the images are well lit, and are taken with a high quality camera. If buyers can’t make out what’s going on in the photo, they’re not going to be massively keen on viewing the property, are they?
Your Presentation isn’t Good Enough
As well as decluttering and considering renewing parts of your property, it’s important to think about how it’s actually presented:
- When you visit places like IKEA, what is it that makes their showrooms look so effective and appealing? It’s the way in which they’re dressed.
- Whether adding new wall art, dressing your sofa like mentioned above, or introducing house plants into the house makes it pop, do it! It makes all of the difference.
- As well as this, try and make each room as light as possible. Open up your curtains and windows, and if it isn’t a bright day consider using overhead lighting. People associate dark rooms with dinginess, so try and stray from this at all costs.
There are Repairs to Be Made
Last of all, but by no means at the least of the list, if there are repairs to be made to your home and you haven’t addressed them, then buyers aren’t going to be interested:
- Remember the leaky tap that drips all day and night in your kitchen, yet you no longer notice it? Yep, you guessed it, the potential buyers will have noticed it straight away, and they won’t be impressed by it.
- Furthermore, if there are any other sort of repairs that need to be addressed and yet haven’t been, it’s extremely likely that less people are going to be interested in buying the property. They won’t want to move into a house with lots of problems!
- Even if they are interested in buying the property, chances are it’ll be at a highly reduced cost to make up for the expenses they’ll have to pay out on repairs.
- It’s better to address these things prior to putting your property on the market, trust us.
So there we have it, these are the top 10 reasons that houses get stuck on the property market and don’t sell.
If you take anything away from this article, it should be that all of these issues can be solved in some way – even if it means reducing your properties price.
We hope this article has helped you in some capacity if you’re struggling to sell your house. Happy selling!