Price Drop or Agent Swap?š¤ What to Do if Your Home Isnāt Selling
If your home isnāt selling, who or what is the problem?
If your dreams of a speedy property sale have hit the skids, itās time to change strategies. Read on to discover the best way to get your sale back on track.
No one likes admitting theyāve got something wrong. But if your home has been on the market for some time and interest has gone cold, itās time to reassess the situation. Before you can determine your next move, you need to identify if:
Ā· The price is too high and you need to reduce it; or
Ā· Your agent isnāt up to scratch and you need to replace them.
Consider dropping the price if:
- Lots of buyers have viewed your property, but there have been no offers.
- An open house generated lots of footfall Āā and raised eyebrows at the asking price.
- Something has changed in your local area that has negatively influenced the market, such as a controversial building project getting the go-ahead.
- A buyer withdraws an offer because their lender thinks the property is overvalued and wonāt greenlight a mortgage deal.
- The asking price breaks the ceiling for your road/local area. Unless thereās something exceptional about the property (for example, itās much bigger than neighbouring ones), the price could be unrealistic. Recent interest rate hikes mean buyers are cautious about over-extending themselves.
- You need an urgent sale for personal or work reasons and a cash buyer is driving a hard bargain.
Consider dropping your agent if:
- Your home is well presented but youāve not had much buyer interest.
- The marketing is lacklustre. The photos look amateur, and your agent is less active on social media than your great granny.
- Theyāre slow to return your calls and always seem to be full of excuses.
- Youāre underwhelmed by their people skills and drive.
But wait, thereās one more important thingā¦
While a modest reduction might be justified in some circumstances, if a drastic price drop is required, youāre entitled to ask how your agent got it wrong in the first place (and are they the person to turn things round now).
In some cases, a seller might need to drop their price and their agent to get their sale moving again.
Contact us here at Keystone for an honest valuation and no-nonsense selling advice. Remember we cover the whole of Flintshire, Denbighshire, Wirral, Chester & Wrexham.