Listing Lock-In: Sure Signs Your Property Has Been On The Market For Too Long

August 16, 2021

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When you first put your house on the market, you’ll likely experience an influx of viewings that get you excited about your prospects. Unfortunately, it’s not unusual for that interest to wane before offers are forthcoming. That can be a crushing reality and, as time drags on, it’s important to ask serious questions about what you plan to do next. Most pressingly, it’s important to remember that a property that has been listed for too long can work against you in terms of lucrative offers. Not to mention that waiting around can feel a lot like being stuck. Luckily, there are steps you can take if your house has been failing to sell for an extended period, including price reductions, time away from the marker, or even a quick-sale, no-stress solution like those offered by Mega House Buyers. The question is, how do you know for sure whether your listing has remained unloved for too long?

Showings have slowed

New listings are always going to receive attention, and the chances are that those early days see you enjoying as many as two-three viewings a week. Unfortunately, the more time that passes without an offer, the fewer those showings will become until, eventually, they’ll slow to no more than one or two a month. This suggests that your property has been on the market for so long that it’s either looking like an unappealing option or has already been viewed and discarded by all potentially interested parties. Either way, it’s a clear sign that action needs to be taken to renew interest and secure that sale at long last.

All other properties have sold

There is no ‘set’ time in which a property should sell because all markets move at different rates, but considering the properties that came on the market at the same time as yours can provide fantastic guidance in this sense. If all the houses listed at the same time as yours are also still struggling to sell, the chances are that this is more a reflection on the market than your home. But, if your house is the only one remaining out of those listings, you’re going to want to reconsider your strategy.

Your listing contract is coming to an end

Estate agent’s don’t want properties that won’t sell, which is why most listing contracts will last around 6 months to perhaps a year. At the end of this period, estate agents will either call for a change in strategy, or will altogether fail to renew your contract. In some ways, this opportunity to seek representation elsewhere and refresh listing dates can help to reinvigorate interest, but most commonly, an outdated listing contract is a sure sign that something is standing in your way, and that you need to address that before you move forward.

Whether you decide to sell through a different route or take a little time off, recognizing these signs is the first step towards making a much-needed change. And, that change could well end up being the secret to a successful sale at long last.

 

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