If your home has been on the market for close to three months without securing a buyer, it may be time to ask a few difficult — but important — questions.
I analysed 895 BR3 houses that had remained unsold beyond 90 days.
The outcomes were striking.
Only 15.3% eventually sold without reducing their asking price.
A further 31.3% sold after a price reduction.
And almost half, 49.6%, were withdrawn from the market.
That does not mean a property cannot sell after 90 days.
Of course it can.
But the evidence suggests that once a home has been on the market for that length of time, simply continuing with the same approach and hoping for a different result may not be enough.
What might need reviewing?
If the response from buyers has been weaker than expected, I would usually start by looking at five areas:
Price
How does the asking price compare with the strongest competing properties buyers can choose from today?
Presentation
Is the property showing at its absolute best, both online and in person?
Photography and Videography
Are the images strong enough to stop buyers scrolling and create an emotional response? Does the video capture the attention of viewers and prompt a viewing?
Marketing
Is the property simply sitting on the portals, or is there a genuine strategy designed to create fresh interest? Is there a social media strategy aimed at reaching buyers who may not yet be actively searching Rightmove, but could be persuaded to move for the right home? Is the property being proactively put in front of relevant local buyers, London movers, buying agents and wider networks rather than simply waiting to be found?
Competition
Has the market changed since the property first launched? Have better-priced or better-presented alternatives appeared?
Sometimes the answer is price.
Sometimes it is presentation or marketing.
Sometimes a property simply needs to be repositioned so buyers see it differently.
And sometimes the changes required are relatively small.
The important thing is to understand what the market may already be trying to tell you.
An Independent Second Opinion
If your Beckenham home has been on the market for a while and you are not getting the response you expected, I am happy to give you an independent second opinion.
I will look at the evidence, the current competition, the buyer behaviour and the way the property is being presented, and give you a clear view of what I believe may be holding the sale back.
No obligation.
No criticism of your home or your current agent.
Just another pair of experienced eyes looking at the evidence.
If your property has reached 90 days without the result you hoped for, get in touch and let’s look at what might need to change.
James Hall
The Property Perfectionist™
Clarity. Not optimism. Not guesswork. Just evidence.
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