Bridge of Allan, Dunblane & Causewayhead have many & varied properties for sale, some sell fast, others slower.
It can be discouraging when your home isn’t selling when the market is active. So what should you do?
1. Don’t Panic
When selling a property there are things you can control and things you cannot control. You cannot control market forces such as supply and demand, interest rates, seasonality, ease of credit etc. However, you can influence how your property is marketed such as price, condition, marketing, staging etc. Focus on what you can control.
2. Know Your Market and Neighbourhood
What is the average days on market for your neighbourhood? What is the average pound per square foot for a sold home? You should have an idea of these things when you put your house up for sale, ask your agent!. It will help you manage your expectations. There is no reason to panic if your house hasn’t sold in thirty days when the average selling time is four months.
Knowing your neighbourhood will also help you make the right decision when a good offer is made to you. If similar homes in your neighbourhood are selling between £225,000 and £250,000 and you get an offer for £247,000 you should seriously consider accepting the offer. You may think you home is worth £275,000 but if no buyer in the world is willing to pay your price then it is isn’t worth it.
3. How are your photos?
Good photographs can really help. There may be plenty of homes for sale in your area. Make sure your house shines. We have seen plenty of homes sell with bad photos but it doesn’t really cost that much to get good photos.
4. How does your home show?
Your home is clean, neat and tidy? Have you put off any DIY? Be objective and view your home like a buyer would view your home. Many buyers do not have vision. They have a hard time visualizing what a home can look like. Do your best to get your home looking like a show home.
5. How is your marketing?
It is your estate agent’s job to get as many people as possible to notice your home. We do this through open houses, client tours, internet marketing, e-blasts, direct mail, fancy property brochures, even cocktail parties! Did your Estate Agent put a sign in the garden, throw it on the web with a few average photos and then just disappear? That is a problem. If the house isn’t selling, things may need to be tweaked. You may need some better photos, or a new proactive agent. An open house can be a good idea. Are you getting feedback after your viewings? If buyers don’t tell you what is wrong how will you fix it?
What Market Value is not!
It is not the price you paid for the house plus improvements and agent commissions.
It is not how much your friend, in-laws, lawyer, accountant, sister neighbour or anyone else thinks your house is worth unless they are willing to buy it at that price and you are willing to sell it at that price.
It is not what you paid for the home plus a needed or historical rate of appreciation.
It is not more than what your neighbour’s house sold for because you like your house better.
So how do we sell homes, while others are just sitting unsold?
1. We don’t panic
Sometimes it takes a little bit of time & negotiation to receive an offer. But, at least ours sold while the others are still sitting. We made the right adjustments along the way to get it sold.
2. We knew the neighbourhood
The original asking price may be high which is in the ballpark when you analyze the neighbourhood. If we receive an offer less than the asking price, we are prepared to negotiate intelligently.
3. We had good photos
We start out with one set of photos and if the seller isn’t happy with them we use a different photographer and get new ones. Like I said before, sometimes you need to make adjustments.
4. Good marketing
Buyers should not have a hard time finding this home and the agent should know about it.
5. Our homes should show very well
The condition of the home plays a huge part in why it sells. Our Sellers do a fabulous job of preparing the home and making it look really pretty, but sometimes extra assistance is required.
We can supply a Home Stager to assist with making it look better.
Tips for choosing an Estate Agent
It is important to trust your estate agent and to at least understand like them as a person. This is someone you will entrust to work on your behalf and with whom you should be in close communication. If you don’t “click” move on!
There are many issues that can arise during a property transaction. Your agent should be able to anticipate and smooth these out before they become problematic. Some estate agents sell loads, some little but the estate agent “doing the business” generally will be more in tune with the realities of the market and hope to keep your sale (or purchase) running smoothly.
Ask friends for an agent referral
If no-one comes to mind immediately when you think of who you would like to work with (hint: Halliday Homes!), it is a good idea to ask for a recommendation.
Don’t discount the newer agent
Although we have said above that experience is important, don’t discard an agent who is smaller and newer. Big agents are often busy, which is a good thing, but this can sometimes cause them to give less time to each client. The newer agent will work harder, smarter and have a good network. Give them a chance to impress you with ” stellar service”. A newer agent who is on their way to being well known as a great one may have more time and attention to devote to you and your sale or purchase needs, making your experience an excellent one.
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