Here at O'Flynn Estate Agents Leicestershire, it is commonplace to take on a client, who for whatever reason, has had a lack of success when attempting to sell a property. The question I always try to understand is why? How can I help when other options have not worked? Can I offer a solution and what has hindered or affected the sale previously?
So let's try and answer the question. Why is a house not selling? Here at O'Flynn Estate agents we have put together a few ideas as to why your house could not be selling, and the approach we can take to hopefully improve the situation:
It is priced too high - A good estate agent will be the voice of reason in regards to pricing a house, they will have the experience and knowledge when it comes to the local area, and what similar properties have sold for. They will also open their ears when a customer points out other information that may inform the sale price. It does happen from time to time that a property has been put on the market for a price that is too high, but it is important that your agent is giving you regular feedback from what customers are saying following for example, a viewing. Things to consider, did you the homeowner dictate the asking price or did your estate agent suggest the price? If it was your estate agent, how did they justify the figures and what comparable properties did they present to you prior to marketing?
The main selling image could do with some testing - If the main image associated with the property had been up for a while and it is not getting a great response, then it maybe time to try and different approach. I would ask for a second opinion from trusted colleagues, family members or friends to see what they think, and I would also conduct some A/B testing to see what other alternative images can offer in terms of grabbing attention. Let's remember that the main image, the first image people see, is absolutely key to getting people through the door, and if its not working it needs changing. Things to consider, what is the highlight of your home, is it the garden, your kitchen diner or do you want to showcase an extension to the property which cannot be seen from a front image? Do not worry about asking your agent to re-take some images to freshen up your advert.
What does/did the marketing package look like, and what work has actually been done in regards to marketing? Have you, and did you agree to a marketing package with your agent? did the approach and content make sense to you? and what do you think could have been improved? Having a good conversation about what was done previously, and how you think it could be improved is a great starting place. We can then work together to outline a new approach, hopefully adding ideas and options that are proven to improve exposure to your property. Premium adverts on property portals are a great way to increase viewing activity as is your agent running a social media campaign. If you have social media, sharing a link to your property advert is a great idea and ask family and friends to do the same.
Can we find comparable properties? and understand the approach that worked for them. Our experience will give us some idea of the things that are missing in your selling package, but it is definitely worth looking at other comparable properties and understanding the approach that they took to get people through the door and the sale. As the saying goes 'lets not reinvent the wheel'. If it worked recently it can work again.
What did the people, who viewed our home, eventually go on to buy? As an agent we should usually be able to get feedback from viewers and understand sometimes what they went on to buy. This again can give us a glimpse into what the type of person who viewed your home is actually after in terms of property and the marketing package that incited them in.
There is not usually one reason as to why, after two or so months a property has not sold. Two months is a good point to check in, and have a retrospective upon the approach. We can pivot and improve based upon what has and has not worked. Looking back on our work, and process is key to us improving as a business, which ultimately equals a sale for you as a customer. As always get in touch for a chat about how we can help.