Why Is My House Not Selling? Top Reasons & Fixes for 2024
Updated: September 2024
Feeling the pinch of the property slowdown? You’re not alone. In 2024, nearly 40% of UK homeowners are asking, “Why is my house not selling quickly?” In this guide, we’ll reveal the strategies that top sellers are using to move their properties faster, including:
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The little-known pricing tactics that attract serious buyers in a slow market
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How to turn your home into a must-see listing with simple staging tricks
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The marketing secrets estate agents won’t tell you that can skyrocket your property’s visibility
6 Reasons Your House Isn't Selling
If your house has been sitting on the market longer than expected, it’s time to take a closer look at what might be holding back potential buyers.
1. You Do Not Have Enough Estate Agents Working For You
Choosing the right estate agent is akin to selecting a trusted partner for one of the most significant financial transactions of your life. Studies indicate that choosing the right agent can increase your sale price by as much as 5%.
Your estate agent is not just a middleman but a guide, advisor, and negotiator. Here's what to look for:
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Expertise matters: A seasoned estate agent understands the intricacies of the local market, from pricing strategies to buyer preferences. Their experience can be all the difference between a house that sells within weeks and one that stays for months.
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Marketing skills: In a digital age, how your property is presented online can make or break a sale. The right agent will have a comprehensive marketing plan, including high-quality photographs, compelling property descriptions, and effective online listings.
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Negotiation skills: An adept estate agent can negotiate terms that not only ensure a fair price but also address other crucial aspects like move-in dates, contingencies, and repairs.
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Network: A well-connected agent can tap into a network of potential buyers, other agents, property portals, and industry professionals, increasing the visibility of your property.
Pitfalls of a Poor Choice:
Selecting the wrong estate agent can lead to a series of challenges:
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Overpricing: An agent who doesn’t know the market well might recommend an unrealistic price, which can turn buyers away.
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Inadequate marketing: Weak online listings, unappealing photos, and poor advertising can make your property less attractive to buyers.
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Lack of Communication: An unresponsive agent can leave you in the dark, causing unnecessary stress and uncertainty.
Advice from our Property Expert Paul:
Sign up with at least 2 agents; a great way to find a good estate agent is to ask friends or family members who have already sold their homes for a recommendation.
After you've found one, if you still need them to prove themselves, you could get a friend to call the agents and pose as a potential buyer. Get your friend to describe your own property to the estate agent.
If they mention your property, you can at least be sure they are doing their job – if not, it's time to switch estate agents! If you're on a budget, ensure that the estate agent fees are within what you are able to afford.
Ultimately, if you do your research, you should be able to find the right estate agent for you.
You can always check out a house buying company if you're looking for an alternative. However, be sure to check out their we buy any home reviews before choosing one (assuming the offer meets your needs).
2. Property Photos Need Improvements
If you are getting zero to no viewings on your house – this is probably why.
Research indicates that low-quality photos capture a viewer's attention for just 2 seconds on online portals, whereas high-quality photos can engage viewers for around 20 seconds.
So, your first task is to check every place you have your property listed (both online and offline) and see if the photos can attract buyers.
Just put yourself in the position of a prospective buyer and think:
"If I was interested in a property and saw these photos, would I want to pursue it further?”
You will get an instant feeling of whether they are good enough or not.
If you feel you need to improve your photos, consider these:
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Carefully choose your very best pictures – you do not have to cover every angle of the house, but there should be enough to give an overall impression.
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For your best features, experiment with having only one great picture with an overall view; this means potential buyers may want to book a viewing to inspect further this nice feature (e.g. a beautiful garden).
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Tidy up your property beforehand.
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Reduce the clutter and increase lighting in key areas.
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Use a photo enhancement app to choose the best lighting for your images.
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If you have some extra money, hire a professional photographer.
3. Incorrect Home Pricing
Setting the right price for your home is both an art and a science.
In the 2024 UK property market, where fluctuations are common, getting the price right is essential for a successful sale. With the average house price in the UK now at £266,400 as of July 2024, it's more important than ever to price your home accurately to attract serious buyers.
Let's look at the challenges and strategies associated with this:
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Understanding the market: The property market isn't static. It's influenced by economic factors, interest rates, political events, and even seasonal changes. A house priced based on last year's market conditions might not resonate with today's prospective buyers.
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Overpricing: An overpriced home can discourage potential buyers and lead to longer listing durations and, often, eventual price reductions.
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Underpricing: This leads to a perception that something is wrong with the property. Plus, you might end up leaving money on the table.
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Competitive analysis: Look at comparable properties in your area – those that have recently sold, are currently on the market, or were listed but didn't sell. This analysis gives a realistic picture of what buyers are willing to pay.
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The importance of first impressions: In the property market, the first 30 days are crucial. If the initial asking price is too high, it might have trouble attracting buyers. Even if the price is lowered later, the property might have lost its initial appeal to potential buyers.
Strategies for Effective Pricing:
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Seek expert advice: An experienced estate agent can provide insights into the local market and house-selling process and help set a competitive price.
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Stay updated: Regularly review market trends and adjust the price if necessary.
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Consider professional valuation: A property valuation by a professional can offer an unbiased view of your home's worth.
4. Your Home is not Optimised for Selling
If your home is in poor condition and doesn't look appealing, it probably won't sell, and it's as simple as that. Get your home looking as good as possible before putting it on the open market.
With so much competition in the housing market, making your home stand out is key. Staging can make a big difference—staged homes often sell up to three times faster and can even increase your sale price by about 10%. To get noticed, aim to be in that top 10% of properties in your price range.
5. No Effective Advertisement
In the digital age, the way you advertise your property can make a significant difference in how quickly it sells and at what price.
With 95% of homebuyers using the Internet during their home search process, having a strong online presence is more important than ever.
There are numerous platforms and strategies available, and understanding the role of advertising in the property market is essential.
Importance of effective advertisement:
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Maximises exposure: Ads can reach a wider audience and increase the chances of finding the right buyer quickly.
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Attracts serious buyers: Well-targeted ads draw in buyers who are genuinely interested and ready to make offers.
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Highlights key features: Effective advertising showcases the best aspects of your property and makes it more appealing.
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Increases perceived value: Professional, high-quality ads can make your property appear more valuable and can potentially lead to higher offers.
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Differentiates from competitors: Good advertising helps your property stand out in a crowded market, setting it apart from similar listings.
Ways to Advertise:
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Local advertising: Community websites, local newspapers, and even community boards can be effective, especially for properties in tight-knit communities.
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Email campaigns: If you have a list of potential buyers or are working with estate agents who do, targeted email campaigns can be highly effective. Real estate emails typically see higher open rates, averaging around 23%, making them a powerful tool for reaching interested buyers directly.
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Feedback and analytics: Digital advertising platforms offer insights into how many people view your listing, click on it, and more. This feedback can be invaluable in tweaking your advertising strategy for better results.
39 Reasons why homebuyers won't buy your house
Mastering Online Property Portals
Getting your home noticed on online platforms like Rightmove, Zoopla, and others is essential.
These sites are where most buyers begin their search, so a standout listing can make the difference between a quick sale and months on the market.
Rightmove and Zoopla are the dominant players, but other platforms like OnTheMarket and PrimeLocation also offer valuable exposure, especially for exclusive or high-end properties.
Beyond property portals, social media platforms like Facebook and Instagram are powerful tools for reaching potential buyers. Sharing your listing across these networks can generate buzz and attract local interest, often speeding up the sale process even in a slow market.
Tips for optimising your online listing
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High-quality photos: First impressions count, so invest in professional photography. Bright, well-lit images that showcase your home’s best features can make your listing more appealing.
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Compelling descriptions: Your listing description should be clear and concise. Highlight the unique aspects of your property and avoid overused phrases like “stunning” or “must-see.” Instead, focus on what makes your home special.
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Accurate pricing: An overpriced property can deter potential buyers, while an underpriced one may raise suspicion. Research local market trends and consider getting a valuation from a trusted estate agent.
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Regular updates: Keep your listing fresh by regularly updating the photos, description, and price (if needed). A listing that hasn’t changed in months may be overlooked.
6. Wrong Timing
There are times during the year when house purchases slow down, so it makes sense not to sell your house during this time.
At the same time, there are periods during the year dubbed ‘the best time to sell a house‘, so it can make sense to sell during that particular period because it is the most popular time when homeowners tend to put their property on the market.
Bonus Tips
1) Kerb Appeal is Not Up to Scratch
What is kerb appeal?
Kerb appeal in the context of property selling is how attractive it looks from the outside or when viewed from the street.
The old saying, ‘first impressions matter,‘ couldn't make more sense when discussing kerb appeal.
Unfortunately, homeowners often focus all their energy on beautifying the inside of their home and forget that the first thing a potential buyer will see is the exterior, including the garden and exterior walls.
Easy things you can do to create & improve on kerb appeal include:
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Add flowers or greenery to your garden.
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Re-paint and number your door.
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Repair stonework on your driveway and surrounding areas.
- Add lighting and porch furniture.
2) Too Personalised for Viewings
When a prospect visits your home, they're not looking to keep things as they are.
Instead, they will look at your home as a blank canvas where they can input their own styles and designs to make the house their own.
It's one of the many reasons why renovation experts paint any homes they intend to sell in neutral colours. It makes it easier for potential buyers to envision what their own home could look like.
3) Selling in Different Seasons
The time of year you choose to sell your home can significantly impact how quickly it sells and the price you might achieve.
The housing market is influenced by seasonality, with each season bringing its own set of challenges and opportunities.
Spring: The Peak Selling Season
Spring is often considered the best time to sell a home. The weather is improving, gardens are in bloom, and buyers are more motivated to make a move.
Families with children are especially keen to buy in the spring so they can settle before the new school year starts.
Rightmove reports that 12% more sellers are coming to the market, and 13% more sales are being agreed upon this time spring season, proving that it is an ideal time to list your property.
To take advantage of this busy period:
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Maximise kerb appeal: Have a well-maintained garden. Fresh flowers, a tidy lawn, and a clean exterior can make your home more inviting.
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Bright and airy: Make the most of the natural light by keeping windows clean and using light, neutral colours inside to create a fresh, welcoming atmosphere.
Summer: A Time For Cautious Selling
Summer can be a mixed bag when it comes to selling. While the longer days and warm weather are attractive, many potential buyers are away on holiday, and the market can slow down as a result.
However, if you’re selling in summer:
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Target active buyers: Focus on those who are serious about moving, such as families wanting to relocate before the new school year or buyers who need to move quickly for work.
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Highlight outdoor spaces: If your home has a garden, balcony, or patio, showcase these areas as perfect for summer living. Arrange outdoor furniture and add some potted plants to create an inviting space.
Autumn: The Last Chance Before Winter
Autumn is another popular time to sell, as buyers who delayed their search in the summer become more active. Tim Bannister, Rightmove’s Director of Property Science, noted that "As the summer holiday season comes to an end, the conditions are there for a more active autumn market."
The market can be brisk as people aim to move before the winter sets in. To sell successfully in autumn:
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Warm and cosy: As the weather cools, make your home feel warm and inviting. Use soft lighting, cosy throws, and perhaps a fire in the fireplace to create a comfortable atmosphere.
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Tidy up the garden: Clear fallen leaves and keep the garden tidy to maintain your property’s appeal. A well-maintained garden, even in autumn, can make a significant difference.
Winter: A Slower Market, But with Serious Buyers
Winter is traditionally the slowest season for house sales. The colder weather and shorter days make house hunting less appealing, and many buyers put their plans on hold until the new year.
However, winter can still be a good time to sell, especially if you target the right audience:
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Create a warm welcome: Ensure your home is warm and well-lit for viewings. A cosy atmosphere can be very appealing during the colder months.
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Highlight winter features: If your home has a fireplace, underfloor heating, or energy-efficient windows, make sure these features are highlighted in your listing. They can be very attractive to winter buyers.
If you have trouble selling your house during winter, you may want to check this article: How to Sell your Home in Winter Fast (Expert Advice)
The Changing Landscape of the UK Property Market
The UK property market has always been a dynamic entity, evolving with economic shifts, political decisions, and societal trends.
Learning the current state of the market is critical for homeowners looking to sell. Let's delve into the present landscape and its implications for house sales.
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Economic influences: The health of the UK’s economy has a direct impact on the property market. When employment rates are high and the economy is strong, people feel more confident about buying homes, leading to a lively market.
On the other hand, if the economy takes a downturn, buyers might become more cautious and hesitant to make big decisions. You may check the RICS website to get the latest update.
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Interest rates & mortgage availability: What the Bank of England decides about interest rates can affect how affordable mortgages are. As of now, the Bank of England lowered interest rates to 5% in August after keeping them at 5.25% for seven straight times.
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Political climate: Political events and decisions, like Brexit or changes in housing policies, can also sway the property market. When there’s political stability and clear policies, buyers tend to feel more confident.
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Regional variations: While London has long been the heart of the UK property market, other areas like the North West and Midlands are experiencing growth. Sellers who understand these regional trends can better position their properties in the market.
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Technological advancements: Technology is changing how we buy and sell homes, with virtual viewings, online estate agents, and digital platforms becoming the norm. Sellers who stay on top of these advancements can reach more buyers and improve their chances of a sale.
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Societal trends: After COVID-19, many buyers shifted their focus to homes with more space and access to green areas, rather than being close to city centres. Knowing what buyers are looking for now can help sellers present their properties in the best light.
Is There Anything Else I Can Do?
We provided several solutions above that will give your property a better chance if your house is not selling, so we highly recommend trying to implement some of them.
If that wasn't enough, our experts have also put together a list of things you can do to sell your home and boost the chances of a sale.
With this, you will not only know the reasons why your house or home is struggling to sell but also some things you can add to increase the likelihood of a sale! Let's look at some of them below.
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Try to avoid property chains: Property chains can turn out to be a person's worst nightmare. Remember, the longer a chain is, the more likely it is to break. Try to avoid them at all costs.
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Gazundering is a thing: Gazundering is lowering an offer made for a house at the very last moment. To avoid this, be upfront about everything related to your house from the get-go, so there's less of a reason for you to get scammed.
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Use your neighbourhood to your advantage: If you live in a friendly community with things like good local transport links, amenities and schools close by, be sure to let any potential buyers know about them!
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Start the conveyancing as soon as possible: Starting the conveyancing process will show you're on the ball. Secondly, if any paperwork doesn't match up, it gives you additional time to sort it out.
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Pick the right buyer: It can be easy to go with the first buyer to put in a reasonable offer, however, if you're in a position where you can choose, it's better to go with a realistic ‘better qualified' offer even if it is slightly lower.
When to Worry About House Not Selling
Every homeowner eagerly anticipates the moment when they receive that promising offer for their property.
But what if days turn into weeks, and weeks into months, with no serious offers in sight? Knowing when it's time to raise an eyebrow and reassess your strategy is crucial in the dynamic UK property market.
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Average time on market: Before diving into panic mode, it's essential to gauge the average time properties in your area and price range are taking to sell. According to Zoopla, selling a home depends on various factors, and the process can take anywhere from 17 to 34 weeks.
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Feedback from viewings: If potential buyers are consistently providing feedback about a specific issue, be it the price, a particular feature of the house, or even its location, it's a sign that you might need to address that concern.
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Market fluctuations: The property market can be influenced by various external factors, from economic downturns to political events. If there's a slow market, it might not be your property but the larger environment that causes the delay.
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Your advertising reach: If you're not getting enough viewings or inquiries, it might indicate that your advertising strategy isn't casting a wide enough net. Consider diversifying your advertising platforms or enhancing your property's online presentation.
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Pricing concerns: One of the most common reasons for a property not selling is its price. If you've set a price based on sentimental value or outdated market data, it might be time for a reassessment.
Quick Sale Options
When you need to sell your home fast, auctions and quick sale companies are two options that can speed up the process. Each has its own benefits and drawbacks.
Auctions: Speed with Uncertainty
Auctions can secure a sale quickly, often within weeks. They attract serious buyers, and the competitive bidding can sometimes push the price higher.
However, the final sale price is unpredictable—bidding may fall short of your expectations. Auction fees can also be steep, and you'll have less control over the sale process.
Cash Home Buyer: Convenience at a Cost
Quick sale companies offer cash purchases, often completing the sale in days. They provide certainty and cover all costs, making the process hassle-free. However, this speed usually comes at the expense of a lower sale price.
Additionally, not all cash buyer companies are reputable, so it’s important to choose carefully. Lack of transparency can also be an issue, with final offers sometimes revealed late in the process.
Choosing the Right Option
If you can handle some uncertainty and aim for a higher price, an auction might suit you. If you need a guaranteed quick sale, a quick sale company could be the better choice. Weigh the pros and cons carefully to decide which option best fits your needs.
Final Thoughts and Key Takeaways
Navigating the UK property market in 2023 requires strategy, adaptability, and awareness. Understanding the market and addressing potential challenges can greatly improve your chances of a successful sale. Here are the key takeaways:
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Estate Agent Selection: Choose an estate agent with the right expertise, marketing skills, and network to effectively showcase your property.
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Presentation Matters: High-quality photos, good lighting, and a decluttered space can significantly increase your property's appeal.
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Pricing Strategy: Stay informed about market trends and be ready to adjust your price based on feedback and comparisons.
With the right approach, you can overcome challenges and achieve a successful property sale.
