Our house selling tips are designed to help you beat the market regardless of current market conditions. In most parts of the country, the aftermath of the credit crunch has left scores of houses unsold.
The figures say it all
The stats say it all. Here are just a couple of examples. UK house prices were slashed by the largest amount for four years in July 2012, according to Rightmove. And it’s taking longer to sell too, with houses taking an average of 9 weeks to sell. You won’t be surprised to learn then that there’s also been a sharp rise in the number of ‘accidental’ landlords – people whose house is unsold so they have decided to rent it.
There is one exception of course: London where demand continues to outstrip supply. So we have a two tier housing market. But that’s not to say that if your home is in London you don’t need help.
There are something you can’t control: bank lending, jobless figures. But there’s a whole lot more you can’t influence that will count towards a speedier sale.
Can you answer these about your house or agent?
- Why will someone buy it?
- Who will buy it??
- Is it immaculate inside and out?
- Is it newly decorated?
- Why is your agent or agent solicitor better?
- How much exposure is your property getting?
- Is there a reason why your house is unsold?
- Do you know what it’s really worth?
- Is your house really priced to sell?
But of course you must be willing to listen.
We made an offer on a house early last year and it’s still for sale today the owner/developer is basing his price on how much effort he put into the development when in truth the house has a terrible layout. Which of course comes down to knowing whether your house has a flaw that’s making it stick on the market. Don’t rely on your agent telling you. They are often too polite. Pricing is still the key element for most homes. In some roads in London prices can vary buy £200,000 or more. But for many homes prices are more or less fixed – downwards. Our London property is on such a road, but our Edinburgh flat is on a road where the prices don’t fluctuate as much.
Realistic advice on how to sell
You can’t change the location of your house. And it’s likely you don’t have thousands to spend on redecorating it either. We understand that. We can’t promise miracles. But we can pass onto you what we have learned. Take a look at the houses marked ‘STC’ on Rightmove in your area. There’s always houses selling in a poor market.