At Wilkinson Grant & Co, we recognise that having your home on the market without attracting the right buyer can be a source of significant stress and frustration. Particularly when we all know Exeter is a UK property “hot-spot” and agents report how good the market is. Understanding the reasons your home isn’t selling and taking proactive steps can make all the difference. Here are some key factors that might be hindering the sale of your home and actionable solutions to address them:
Often, the most common hurdle is setting an unrealistic price. Obviously, you want as much as possible – so do we! And we have a great track record of achieving top prices but the market is sensitive and buyers are well-informed and may have plenty of properties to choose from.
Solution: make sure your agent conducts a thorough market analysis. Compare your home to similar properties in the area and adjust the price accordingly. Don’t fall into the trap of “Emotional Pricing”, particularly if you are looking to link your sale to the purchase of another property. Sometimes, a slight reduction can significantly increase buyer interest.
In today’s digital age, inadequate marketing can leave your home in the shadows. That’s why we have developed a marketing plan that has helped establish Wilkinson Grant & Co as the leading residential agent in the Greater Exeter Area.
Solution: make sure your agent has a clear marketing plan and utilises a variety of marketing tools. Including high-quality photographs, narrated walk-through videos and ensure your property is highlighted over and above the many other properties listed on Rightmove, Zoopla and OnTheMarket.
All advertising can become stale but in the “always on” world of property advertising, with new properties coming to market by the hour, it’s important that your property advert doesn’t become stale.
Solution: make sure your agent regularly and consistently makes updates to photos, photo sequence, property description, and highlights the key selling features to keep things fresh.
Lack of Information
Not providing enough information or failing to highlight the home’s unique features can result in missed opportunities.
Solution: be descriptive in your listing. Highlight the features that make your home stand out, such as a newly renovated kitchen, energy-efficient appliances, or proximity to amenities.
Lack or Curb Appeal
First impressions are crucial. A home that lacks curb appeal can be overlooked by potential buyers.
Solution: enhance the exterior of your home. Simple steps like painting the front door, tidying-up the front garden and ensuring the driveway is neat can make a huge difference.
An interior that looks dated or lacks maintenance can turn off buyers who prefer a ‘move-in-ready home’.
Solution: consider minor renovations. Updating fixtures, applying a fresh coat of paint, and fixing any maintenance issues can make your home more appealing.
Inflexible Showing Times
Restrictive viewing schedules can deter potential buyers.
Solution: be flexible with showings. The more accessible your home is, the higher the likelihood of finding the right buyer.
Small issues can be a big turn-off. Buyers often overestimate the cost of repairs and might be discouraged.
Solution: fix the little things. Repair leaky faucets, replace burnt-out light bulbs, and ensure all appliances are in working order.
Highly personalised decor can make it difficult for buyers to envision themselves in the space.
Solution: neutralise and depersonalise. Choose neutral colours and remove personal items like family photos. Consider staging the home to showcase its potential.
Changing Market Conditions
Sometimes, external market conditions can impact the sale.
Solution: stay informed and patient. Understand current market trends and adjust your strategy accordingly. If you only want to sell if you achieve a very high price, sometimes, it might be worth waiting for a more favourable market. However – whatever the market conditions. If you are selling to buy, remember, it’s the gap between your sale price and the purchase price of your next home that’s the important number.
The residential property market here in The Greater Exeter Area is very dynamic. If your property isn’t selling, it can be for any number of issues but by addressing these issues, you can significantly enhance the appeal of your home and increase your chances of a successful sale. Remember, the key is to understand the buyer’s perspective and adapt your strategy to align with market demands and trends.
For a free no-obligation appraisal, call our residential team on 01392427500 for Greater Exeter, or 01392 875000 for Topsham and East Devon.
WILKINSON GRANT & CO.