Why is my property not selling?
‘Why is my property not selling with my current Estate Agent’? This is a common question for us, so we have detailed some of the most common issues we come across.
You’d think a larger styled 2 bed apartment in Glasgow’s West End with the benefits of a balcony, private underground parking and en-suite would have sold pretty fast. It was marketed at a good price, but after being advertised through multiple agencies it still hadn’t sold after 2 years.
Having been a rental for the last few years the owner just wanted to sell it without spending any money on it, but after all this time on the market she had become disillusioned with the sale. Yates Hellier had recently sold her friends flat in Thornwood and the owner decided to get us round for a chat.
What was the problem?
It was apparent from the outset, the flat had been a rental property and didn’t look as good as it could. The current agents marketing material reflected this and it looked dull and tired. Over the last year the current agency had averaged roughly 1 viewing per month! It was clear the main issues were:
- The marketing material was not attracting buyers
- The previous agents hadn’t thought: “Who will buy this apartment?”
- With only 14 viewings in the last 12 months the previous agent didn’t have the right data base of buyers
- Basic things such as mouldy silicon, dirty windows, cluttered cupboards and worn furniture didn’t give the impression that the property had been well maintained
So what did we do differently than the previous Estate Agent?
- We spoke about the people most likely to buy their home and how we could tailor our marketing
- We looked at what was also available for sale in the development
- We decluttered a lot of items in the apartment and disposed of the worst items
- We had our handyman spend a day freshening up the property
- We added some homely touches
- When our professional photographer went in we re-arranged the furniture to create a more appealing space
- We called up around 50 registered buyers before we launching
- Launched on a specific day to attract the highest number of buyers
- We carried out an ‘Early Bird’ viewing for all our registered buyers (this is a viewing held 24 hours before the property goes to market)
We kept the asking price the same as the previous agent. Within the first week of marketing we had 24 viewings. We had our first offer on the first day of marketing with more following the next day along with 6 Notes of Interest being received.
We set a Closing Date after 6 days of marketing and received 5 offers, with the highest offer exceeding the Home Report Valuation. From initial instruction, Yates Hellier concluded the sale at a price above the sellers expectations within 6 weeks from start to finish.
If you’re currently having to ask your agent ‘Why is my property not selling?’, click the following link to find out more about our Estate Agency service.