My Home Hasn't Sold! What Do I Do Next?
There are literally thousands of homeowners just like you, all over the country, who haven't found a buyer so far in 2019. We know that being on the market can be an extremely difficult and stressful time. If you are currently considering your options, you may find the following tips useful.
Time To Start Again?
We are Michael and Lucy Joerin, and we own and run Stowhill Estates, a boutique estate agency based near Wantage and specialising in selling unique and beautiful homes in South Oxfordshire and West Berkshire. We help homeowners who are struggling to sell, and our approach has helped to sell many homes that had previously languished on the market for up to TWO YEARS! Our strategies have helped sell homes in under 12 weeks (sometimes in under 1 week!) and for asking price or above, enabling our clients to move on with their lives.
First things first...take your house OFF the market
This seems like a strange thing for an estate agent to say, but it is important to give your home a 'rest' rather than have it gather dust online. It also gives you a break from constantly having to keep the house tidy and being available every weekend for viewings. Taking your home off Rightmove and Zoopla for a few weeks while you plan for relaunch means that when you do go back on the market, there will be a whole new set of buyers out there actively looking.
How to give your agent notice
Check the contract you signed with your estate agent - most have around a 12 week minimum sole agency period, and a 2-4 week notice period after that. Whilst you're on your notice period though, you are perfectly entitled to ask the agent to remove your listing immediately from the portals. We have come across incidences where the agent on notice has been difficult about doing this, but stand your ground and remember YOU are the customer!
Get your home ready for relaunch
Whilst you're having a break from the market, give your home an objective once over. Hopefully you will have had at least some viewings and your former agent has been able to give you any feedback. Are there any objections from buyers that keep coming up again and again that you should pay attention to? Could you update the worn carpets or give tired rooms a lick of paint? Are there outstanding works to be done such as guttering or repairing window frames? Would your garden benefit from a tidy up? Are there certain rooms that are full of clutter that could be better presented next time round? It's really worth spending a bit of time and money to make your house look the best it can be when you come to go back on the market. We often work with Home Stylists and Stagers who can come in and give professional advice on how to best present your home for sale. One of our mantras is: 'the way you LIVE in your house is very different to the way you SELL your house' - so don't take it personally if you've had negative feedback about your blue hallway carpet or china figurine collection!
Find a new estate agent
However well you got on with your previous estate agent, it's usually best to choose a new agent who can inject some fresh enthusiasm into re-marketing your home. If your house has been on the market for a while, it's sadly quite common for an agent to lose interest and momentum if they feel your house is 'difficult' to sell. Cast a critical eye over their previous marketing material (or ask a friend or colleague to give you an honest appraisal of the quality of their photos and brochure). What could be done better next time? Select at least two agents to interview personally. Ask them how they would take marketing your property to the next level, what they would improve upon and what sets them apart from the other agents. Don't fall into the trap of picking the agent with the highest valuation and the lowest fee! Ask them to put you in touch with a previous happy customer for a testimonial. For more tips on choosing the right agent, read our blog here:
Review your marketing
Take a critical and objective view of the photos used by your last agent. Were they really good enough? Go on Rightmove and look at photos online of homes for sale that you really like. How do yours compare? Now that more than 96% of people start their property search online, professional photography is absolutely essential to help your home stand out from the competition. Ask your agent to show you previous examples of their property photography. Importantly, we don't believe that you should have to pay for photos, brochures or other marketing materials for your home. In our opinion they should form part of the service that your estate agent offers. Looking at the property description, if you want to stand out online, use a lifestyle description of your house that sells the dream - not boilerplate 'estate agent speak'. Your agent should try to capture the essence of your home and why you bought it - challenge them to avoid cliches and meaningless sentences such as 'an imposing home in a delightful setting that needs to be viewed to be appreciated.' - ugh - just awful!
Price to sell
In the current property market, if you haven't sold, chances are that you will need to adjust your asking price to stay competitive, and ahead of the market. So before you relaunch, deciding on a price will be one of the most critical factors for success. Research shows that well-priced homes get more clicks online, more viewing requests and ultimately more offers, giving you a much greater chance achieving your asking price. Make sure your new agent has done their research with a Comparative Market Analysis (CMA), showing the most recent sold prices (NOT asking prices!) of similar houses to yours in the area. Be aware that some agents will flatter you with a high (and unrealistic!) valuation in order to win your instruction, only to encourage you to drop the price a few weeks later. In the current climate it can be a great strategy to price just below the market value - encouraging multiple bids which often ends up in a higher selling price for you!
If you are thinking about coming off the market and relaunching your home later in the year and would like our help to get a plan in place, give us a call anytime on 01235 751 888 or drop us a line at hello@stowhillestates.com. We sell houses all over Oxfordshire and West Berkshire but we're happy to give advice and tips to homesellers wherever you are in the country. Let us share with your our strategy for selling in under 12 weeks!
Here's what some of our happy customers have said about their experience of relaunching a property with us:
"We had tried to sell through Savills and another agent with no success. Michael and Lucy believed they could deliver a much better service and gave me confidence that the property was not only beautiful but fairly priced and would sell quickly. This proved to be the case!" - Ms Lewis, Wallingford, Sale Price £1.1m
"After 6 months on the market with another local agent, with lacklustre service and only 6 viewings, thank goodness I discovered Stowhill Estates. Within only 2 weeks of relaunching my property with Stowhill, I had another 6 viewings and a firm offer close to the asking price." Mrs Asbury, Sutton Courtenay, Sale Price £790,000
"Having tried 2 agents, both times we were very disappointed. The brochure Michael and Lucy produced was superb - the best we have seen having moved house 14 times. We went online on the Saturday and achieved a viewing on the Tuesday. This couple offered us the full asking price the next day." Mr & Mrs Poole, Lambourn, West Berkshire, Sale Price £995,000
My Home Hasn't Sold! What Do I Do Next?
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