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How long does it take to sell a property?

When we meet vendors for the first time, there are some questions which we are always asked:

  • How long will it take to sell my house?
  • How long will my house be on the market before I accept an offer?
  • What factors can delay or improve the sale of the house?
  • Is there a “right time” to sell a house?

The truth is, “one size does not fit all” and often there is no logical explanation to why a listed property did or did not sell at all. However, there are some factors which will certainly help!  These are quite logical, but not always put into practice by sellers, so we will discuss them in more depth at the market appraisal appointment.

The Price

  • An overpriced property will always take longer if not forever to sell.
  • A lower priced property will attract more buyers and take you less time to sell.

When determining the asking price of your home, try not to be ‘blinded’ by vanity valuations.  When you hear the price, if you think “wow, I wasn’t expecting that” and the price is higher than you were expecting, it probably is too high! Please ensure the final decision you make accurately depicts the market value of the property, look at recent sales in your road of similar properties, that is the best way to determine what you are likely to achieve. Overpriced houses take a much longer time to sell, purely because fewer people can afford them. Plus everyone loves a bargain, so houses that appear more affordable appeal to a wider market.

Tip:

We find that the most effective strategy for attracting more buyers is to price your property slightly under market value, leading to more bids and ultimately a faster sale.

Location, Location, Location

  • Homes situated in desirable neighbourhoods, with outstanding schools, open spaces and low crime rates are highly sought after.
  • Houses within a short walking distance to public transport are in demand.

We do appreciate that the location of the property you are selling is a factor out of your control, however, the price should always reflect the location and we always know when an area is ‘up and coming’ so we are able to market your property in the best light, wherever it is situated.

It is worthwhile preparing a list of all the great local places, including nice pubs or restaurants you visit, or clubs, groups, gyms that are nearby, so that you can discuss these with the viewer and even give them the list to take away if they appear relatively interested.  Quite often there is too much to take in on the first viewing, so it’s great to have some points to look at when back at home.

Property Condition

A house that has been well looked after will always be more popular and sell quicker than one which requires work.  Unless you are selling a “doer-upper” at a great price!

  • Most buyers want to be able to move straight into the house they buy, they do not want to spend a lot of time and money having to call in contractors for decorating and property repairs.  When we are accompanying viewers, they always want to imagine living in the property and that is so difficult if the place is messy, dirty, poorly maintained or over-cluttered.
  • If a property is decluttered it will help viewers to visualise themselves living there. This is crucial. If buyers can’t imagine their own belongings in the house at hand, they’ll be unlikely to make an offer.
  • Professional photography is a key factor influencing buyer behaviour and at Austin D’arcy, we use professional photography to highlight the best features of the property, to make the rooms appear as large as possible and we ask for your assistance in getting the property prepared for our photographer’s visit by cleaning and clearing all the rooms, moving the cars from outside or on the driveway, making the gardens look tidy, sweeping the leaves away, moving the bins out of sight and taking the pets out before we arrive.