How Long is too Long on the Property Market?
One of the most common questions people ask when selling their home is, how long will it take? The time of year, geographical location and expertise of your local estate agent will often have a significant bearing on this time period. You may have heard a property that has been up for sale referred to as ‘stale’ – this often means a property has been on the market for a length of time without much interest. Usually, most estate agents will then recommend a drop in price to draw in more interest and evoke a sale.
If you are selling your home via a traditional estate agent and are becoming frustrated that the sale is taking too long, consider the following…
Is your property valued correctly?
The most common reason in the UK that a home isn’t selling is an overzealous asking price. If you are receiving little interest and rare viewings, it could be time to assess the value at which your property is being advertised. Typically, properties with questionably high asking prices can often remain on the market for months or do not sell at all.
We understand that it can be hard to attach a value to your home; they carry a lot of sentimental and emotional importance. However, it is key to remain as subjective as possible when deciding on a monetary figure. Your estate agent will give you the best advice they can, but the final figure the property is marketed at will be down to you. Heed their advice as best as you can and prepare to accept lower offers or reduce the price of your property to give maximum potential for new prospective buyers.
What is the market like in your locality?
Did you research similar properties in your area and the prices they are selling for? Is property turnover slow in your location? Is it coming up to Christmas or the summer holidays? Sometimes the time of year or lulls in the market in general can have properties sitting on the market longer than they would during another time period.
Your estate agent will be able to give you facts and figures on the properties they’ve sold. Furthermore, their years of expertise will come in to play and they will be able to distinguish whether you’d be better off waiting until later in the year or progressing when the market is on the up.
Is your estate agent marketing appropriately?
Today there is a multitude of different property websites that estate agents can utilise for all of their clients. When you are selling your home through a traditional estate agent it is vital that they harness the opportunities that these online platforms present. This ensures that your home is reaching the maximum number of eyes. For local buyers, it goes without saying that your property should be on display in the agent’s window and on their website.
An alternative solution
Did you know that selling your home via your local estate agent isn’t the only option? Whilst there are property auctions and online agents, if your home has been on the market for a long period you could benefit from getting in touch with us today.
At WeBuyAnyHome, we can buy your home for cash in as little as 7 days. This means your property that has been on the market for the past year could be sold as soon as next week. Because we purchase properties with cash, there are no delays or hassle. We also don’t charge any fees.
If you are fed up of waiting for your property to sell you can get a no-obligation cash offer from us today. Alternatively, if you’d like to find out more, browse our site or call us free on 080 231 6287.