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3 key tips for selling a house in a slow market

The property market won't always be as buoyant as it is right now — so we've got three key tips for selling when things are slow.

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If you’re looking to sell your home, the shape of the market can make a huge difference. Selling in a slow market is different than selling when the property market is spiking. Of course, 2020 was a tumultuous year — and one of the biggest surprises has been the booming housing market in the face of a pandemic and economic upheaval. But, despite what some estate agents will tell you, the market won’t always be as booming as we’ve seen it recently. The market speeds up — and it slows down. And you may find yourself needing to sell when things aren’t as buzzy. How do I sell my home in a slow market? What if my home isn’t selling? We’ve got you covered. 

In some ways, selling in a slow market is the same as selling in a fast one — your listing needs to be great, your home has to be looking its best for viewings, you’ll need to find the right price. But finding ways to sell in slow marketing involves more thought (and maybe more patience) than when homes are flying off the shelves. 

Not sure where to start? That’s OK. We look at what’s the same — and what’s different — to give you three tops tips if you’re selling your home in a market that’s slow.

Price competitively

No matter what the market looks like, you’ll need to price competitively — but if the market is slow, you’ll really need to think about the right price point. Buyers will know that the market is slow and they might be willing to hold out for a seller that will take a low price. If you have a price that you need to attain — maybe because you’re looking to upgrade — be aware of your bottom line. 

Also, if you’re really desperate for a premium price and time isn’t an issue, you may want to wait until the market heats up. Your estate agent should help you come up with a balance of the right price for the market — and your needs. 

Market smarter

Getting your home in front of the right buyers is crucial — especially in a slow market. Most estate agents will use the major property portals, but be sure not to ignore a more localized approach. Using local papers and websites can be great to find buyers in the area, but also making the most of social media can make a big difference. We offer social media boosts which target local buyers.

You never know who might be browsing for a property, so getting your friends and family to share on their networks is a great way of getting your property out there. Some people even do door drops with information about their property and aren't afraid to get creative!

Selling in a slow market means being a little more thoughtful — thoughtful about how to price your home, how you market your home, and how you can offer your buyers something different."

Think outside the box

If the market is slow, you’re going to want to think outside the box. In addition to all of the normal ways to make your property stand out — stellar photos, an engaging listing — you may want to go the extra mile. Hiring someone to stage your home (or doing it yourself) can make sure it’s looking like a dream home. 

You can also get planning permission for extensions or other additions, which can be appealing to buyers. Some people even throw in extras — offering to cover the price of moving or if you have a service, like a cleaner, offering to continue paying for a month or two. Unusual perks can help you stand out.

Ultimately, when to sell your home (and how much you want to sell your home for) is up to you — but selling your home in a slow market is definitely possible. Selling in a slow market means being a little more thoughtful — thoughtful about how to price your home, how you market your home, and how you can offer your buyers something different. 

Having the right estate agent to guide you through can make a huge difference. Have questions? Don’t hesitate to reach out — that’s what we’re here for.