It is frustrating when your house is on the market but not selling.
External factors, such as the economy and local issues, influence this. So too can issues with the house itself.
So, when to worry about house not selling?
There are a few scenarios in which alarm bells should be rung. We’ve explained many of these below.
And read on past these scenarios for our tips on what you can do about your house not selling.
How long does it usually take to sell a house?
On average, it takes between about 6 months to sell a house in the UK.
However, ‘average’ here is not that useful to most people. This is because house sale timeframes vary according to many factors, including:
- Location
- Property type
- Market conditions.
And more.
There are a range of options to sell a house fast. Some of these can be used when selling on the open market, so they are relatively limited.
Others are alternative channels to significantly reduce a sale’s time (but also the final sale price). We have listed the main ones near the end of this blog.
Scenario 1: The housing market is active but not selling
Are houses in your local area selling quickly? If your property is the only one not selling, this is concerning.
You cannot blame a slow housing market for zero offers if plenty of buyers are around. Gather information about housing market activity.
Research what might be causing the delay. Speak to estate agents and friends.
Something about your house is turning people away in a busy market – and you need to find out what it is.
Scenario 2: Listed for a long time, but no viewings
Finding a suitable buyer in the first few weeks is rare.
If your house has been on the market for this length of time, or a couple of months, then you should be patient.
You should reevaluate if the house is listed for too long, though.
Six months is a reasonable benchmark for feeling concerned. Even in a slow market, you should receive enquiries during this time.
Your negotiating power diminishes when buyers know you are desperate for a sale. Assess where the problem is and perhaps consider a different approach or estate agent.
Scenario 3: Many viewings, few offers
A house may take a long time to sell if few people view it. Poor advertising or low-quality photos can explain this.
But with many viewings, your house may be compared unfavourably to others in the area.
Gather feedback from viewers of your property. Ask for explanations about why they won’t make an offer.
Your estate agent might be turning buyers away because of what they say. You need to find the common factor and fix it.
Scenario 4: Estate agent is evasive
You should regularly contact your estate agent throughout the selling process.
Find a new estate agent if they avoid you, refuse to answer questions, or even lie to you.
The house could have a broader issue, or the estate agent isn’t right for you.
Scenario 5: Your asking price is too high
Compare your asking price to similar houses in your area.
If you live on an exclusive road with unique prices, ask neighbours what they would list their theoretically list their house for.
You should bring in an independent expert to get their opinion.
If your house is not selling, the high asking price is likely the reason. You should go back to the drawing board.
Scenario 6: There’s something wrong with your property
When you receive feedback on viewings, note if the same complaint keeps arising. If you can fix the problem, do so.
However, if it is an issue that you can’t change, a new strategy might be needed.
Examples include local developments, flooding in your area, or a problematic neighbour.
Decide whether this problem will always stop you selling on the open market (see below, ‘use an alternative selling channel’).
Scenario 7: Mortgages are affordable
Work out whether economic circumstances work in your favour.
For example, if interest rates are low then mortgages become affordable. This should increase the number of buyers in the market.
You should reconsider your strategy if you get very few views and offers despite this.
Scenario 8: Banks disagree about your house value
Have you had an offer on your house, only for it to collapse because a bank refuses to lend the agreed amount?
If this happens once, it is often nothing to worry about. Banks are always cautious about their lending.
But if this happens two or three times, you should get a second opinion about the price of your house.
Even if buyers are willing to offer the amount you’re asking for, it’s only useful if banks agree.
Scenario 9: Several independent people say your price is too high
Independent house valuations are useful.
An estate agent is likely to encourage a higher valuation. This is because it makes you more likely to sell with them. They benefit from commission on the sale.
An independent expert has no skin in the game. They are thus more likely to be honest.
Scenario 9: You are losing money
You may lose money if your house is listed for a long time.
Perhaps your conveyancer bill is rising, or your property’s value is decreasing.
There may come a point where you can no longer afford to keep the house on the market.
In this situation, you should explore another option…
What can you do about a house not selling?
1. Change your pricing
Get valuations from multiple estate agents to determine a realistic asking price that will attract buyers in your market.
Pricing your property accurately is a crucial condition for a successful sale.
To achieve an accurate price, you should get more than one valuation from estate agents. (Their valuations are usually free).
Next, you should consider comparable recent property sales in your area that have sold.
These two sources (estate agents’ valuations and comparable recent sales) will give you a baseline from which to work.
If you still need help deciding on a price, employ a conveyancer for a separate valuation. This will usually cost about £250 and is more objective than an estate agent.
Be prepared to negotiate the price, too.
2. Try different marketing strategies
You should consider new marketing strategies when your house is struggling to sell.
If you have tried lots of different methods and nothing works, it means that the problem lies elsewhere.
You should take a step back and get feedback from potential buyers.
Are your photos high quality? Is your property fairly priced? And are you advertising the house in the right places?
The issue may lie within your marketing strategy, or it could be something else.
3. Improve your house’s curb appeal
Curb appeal is the visual impression of your home from the street. It significantly impacts property sales.
You can do a range of tasks to improve your house’s curb appeal, including:
- Tidying up your front garden
- Painting your door
- Repairing your drive
- Gardening
- Fixing guttering.
And much more.
Improved curb appeal will not only improve the chances of viewers giving offers.
It will also improve the appearance of photographs in listings, which in turn can secure more viewings.
4. Improve your house’s staging
Home staging involves making your house’s interior as visually appealing as possible. This is to increase the likelihood of viewers making an offer.
It can include rearranging furniture, tidying, cleaning, and – in some cases – redecorating.
Generally, sellers do these tasks themselves. However, in some cases, hiring professionals is worthwhile because of the size of the property or the scale of the staging.
The level of staging depends entirely on the condition of the house. Houses without furniture, for example, may simply need a quick clean.
And houses in bad condition might not even be worth staging at all.
5. Use an alternative selling channels
Estate agents are one of many ways to sell your house. There are a few alternative channels worth considering, too.
Auction houses can sell houses relatively quickly. They often specialise in run-down or difficult-to-sell properties.
A cash buying company can buy your property in as little as 7 days.
Unlike estate agents and auctions, they offer a guaranteed house sale, no matter what the property’s condition.
This helps some buyers to cut their losses and move on to the next chapter of your property journey.
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