Many London sellers are struggling to get viewings with some properties languishing unsold for months on end in the current property market.
But why does nobody want your home when the property next door got snapped up in days?
You might not want to hear the answer, but the good news is, with a change of mindset you might just make the sale after all.
Estate agent Jamie Hope, managing director of sales at Maskells has the answers. Brace yourself!
The price is too high for 2025 buyers
Properties that are priced even marginally too high are sitting, often for many months, without an offer. This is why the price needs to be right from the outset but many agents are too cautious to dampen a seller’s expectations in fear of not being instructed.
However, when the price is right in the context of the current market environment, then there are very healthy interest levels.
Our own internal data at Maskells shows that the average time between “right price” and “offer accepted” is just 16 days.
We work in an ultra-competitive market and there are many agents who seek to gain market share through optimistic valuation and then manage down the price over time, but this is counterproductive and often results in a lower sale price in six to 12 (or more) months’ time.
A brave estate agent will tell you that often the lower the asking price the higher the sale price.
There is no doubting the fact that the pendulum has swung in favour of buyers in recent years, so realism when selling is essential to getting the desired result generating high levels of interest in a property, and plenty of viewings, which drives optimum value.
Your decor is tired and maybe even ugly
It is natural for each home owner to feel that their property is the best on the street.
While in some instances this might be true, it is important to listen to your agent and equally as important that an estate agent has the bravery to tell their client what they might not want to hear.
A seller feels their taste is unique and impeccable, whereas it is almost a certainty that an incoming purchaser might want to cosmetically refurbish throughout, which in prime central London can cost easily £500/sq. ft or more.
Sellers must factor this in to any estimate of how much they think they can sell for.
You may have ‘only’ refurbished 10 years ago but no matter how smart it was at the time, this will often be treated by buyers as an unmodernised home that needs work.
The cemetery next door is creepy
When it comes to location, one person’s heaven is another’s hell.
Proximity to top schools, green space, water, amenities and so on can be a must-have for many purchasers and lead to them paying a premium to secure a home in their desired area.
However, sellers also need to accept elements of their surroundings that could be a turn off for some. For example, one person may love being close to a bustling high street, due to convenience, others may see this extra noise and traffic as a reason to chip away at the price.
I remember selling a property backing onto the Brompton Cemetery – the seller thought this was a positive as the “neighbours were quiet” – buyers felt a little differently…
An experienced agent can help guide a seller through the pros and cons of their location and how to appeal to the right buyer.
Pets are one of the most controversial aspects of selling a home that we deal with.
Plenty of people have allergic reactions to pets, so we always advise sellers to put animals outside – no matter how treasured – and to clean thoroughly before a viewing.
If viewers spend the entire viewing sneezing, then even the grandest home could be tainted.
In selling a house in Notting Hill some years ago, the sellers had a cat that was white with very long shaggy hair. They also had a chair that was white, with long shaggy fabric on it.
The cat used to sleep on the chair and be all but invisible.
While the cat was docile, when showing the house, a buyer was observing the chair in question when the cat opened its bright yellow eyes, scaring the buyer so much she wrote the next day to say she felt the house could be haunted.
Your clutter is off-putting
The personal touch can be off-putting to some purchasers but this can be a touchy subject for people selling a beloved family home.
When you decide to sell it is the first step towards your home no longer belonging to you.
Whilst we certainly don’t advise people to strip each room of all photos and memories it is still vital that when they view potential buyers can imagine themselves making the house their own.
That can be hard if everywhere they look there is a reminder of the memories already made.
Try to cut back as much as you can. Put things not used on a daily basis out of sight, and cumbersome pieces of furniture into storage.
Start packing away some of the family photos/portraits and treasured ornaments in anticipation of a future move, this will make rooms feel much bigger and a lot more neutral so a buyer can get a better feel of what it will be like empty and ready for their own touch and style.
The main focus should be the points of entry, so clear away coats/clutter in the hallway, in the bathroom hide all products and, in the kitchen, clear the surfaces and replace any overused tea towels or bins.