Struggling to sell? Here’s What You Might be Getting Wrong
by Rizwan Osman on 1st April 2022
Struggling to sell your property in Tooting? You may love your property, but if you’re struggling to sell it, what are you getting wrong?
To sell a property successfully, you’ve got to put yourself in a buyer’s shoes. Potential purchasers will be online, searching the neighbourhood for the best buys and the most appealing places. You’re in a competition, and you’ve got to make your property stand out from the crowd.
There’s no point focusing on problems you can’t change, like the distance from the tube station or the garden being overlooked. Look instead for things you can change and improve – the building itself, and the way you’re trying to sell it.
Improve the condition
Few potential purchasers want to take on major repairs like installing a new kitchen, bathroom, or boiler. You’ll have more chance of selling the property if you tackle these jobs. If you can’t, you may have to lower the price to reflect the work that needs to be done.
Improve the appearance
You might love the quirky decor, but the quirkier it is, the fewer buyers will fancy it. If you’re struggling to sell, a lick of neutral colour paint will attract a whole new tranche of potential buyers.
Cleanliness and tidiness matter too. Clutter and dirt hint at general neglect, which will put potential buyers off. To have any chance of a sale, clean and tidy the place before each viewing.
Adjust the asking price
Online property websites ask prospective purchasers to set a price range for their search. Asking high a price will set your house against properties that it can’t compete with. Not only that, the high price will cut it out of searches by less wealthy buyers who might have loved it.
Set your asking price by comparing valuations from three estate agents. Study the local market as if you were a buyer. Find out how properties comparable to yours are selling – quickly or slowly, at or below their asking prices. Then assess the valuations, decide on a realistic starting point, and commission your agent.
Improve the photographs
Photographs of your property are your shop window. Potential purchasers will scroll quickly through. If your photos aren’t making them eager to pick up the phone and book a viewing, get new images.
Are you with the best estate agent for your property?
Estate agents specialise. Do your research and make sure you’re with an agent who has a good track record of selling properties like yours. Discuss how they will market your property, and debate what offers you would be willing to consider.
Once the offers come in
Listen to the estate agent’s advice and be realistic. The offer may be attractively high, but a third of all offers fail to turn into purchases. Is this potential purchaser going to deliver? Would you be better off accepting a lower offer from a buyer who already has the money or a mortgage offer in hand?
One last tip: make sure it isn’t you who holds up the sale
Don’t risk losing a sale through your own inefficiency. The sale will require you to provide energy efficiency certificates, proofs of compliance with building regulations, and more. Getting the paperwork takes time, so check with your agent exactly what you will need to provide and prepare it well in advance.