Struggling to sell your property in South Shields? 5 pro tips to get you moving

According to Zoopla’s latest House Price Index property values in our region are on the rise. Average house prices across the region are 2% higher than same time last year, compared to just 1% for the nation overall. There are more properties up for sale and more buyers in the market, and according to property data specialists Home.co.uk, on average, it takes 3 months to find a buyer.

When you dig a little deeper you can see 60% of South Shield properties on Rightmove are ‘unsold’, 1 in 4 have been up for sale for at least 6 months, and 1 in 10 are still unsold after a year!

We spoke to property expert Chris Hodgkinson, Managing Director of House Buyer Bureau to get his 5 top tips on what you can do if you’re frustrated at not being able to sell.

Chris says, “Selling your house can become very stressful, particularly if you’ve been trying to sell for a while. But don’t worry there is a solution out there for every property, and there are plenty of options available, including repricing, relisting or looking at alternative ways to sell.”

#protip1 – Take control and reduce your asking price

Chris says, “It is a buyers’ market in South Shields. There are more properties up for sale than there are sold. If your property has been on the market for a couple of months without finding a buyer, then you need to look at reducing your asking price to attract more interest. Talk to your estate agent to get feedback from viewings and look on Rightmove to see what properties like yours are selling for now, then set your asking price to be the most competitive. Reducing the asking price comes with some risk as people might think “what is wrong with it” but it should kick-start viewings. If people think they are getting a bargain, then they are more likely to look past any specific issues that might be holding potential buyers back.”

#protip2 – If you can afford to wait then take a break

Chris adds, “If your house has been on the market for a while and you don’t want to reduce your asking price, then the other option is to de-list it so you can then bring it back to market later. Before you do this, you must check the contract you signed with your estate agent to make sure there is no fee to pay and Rightmove rules mean you need to take it off the market for 14 weeks for it to then count as a new listing again. If you just change agent and list it again then a potential buyer will be able to see its marketing history and see it has been listed for a long time.”

#protip3 – Can’t afford to wait? Sell to a cash buyer

If you’re fed up with it taking forever to sell, there are companies who will make you a cash offer to buy your property quickly. These property buying companies won’t pay you the full market value (usually they want a 20% discount) but they will give you a guaranteed, cash sale.

Chris adds, “We know that selling to us isn’t the right route for everyone, but at House Buyer Bureau we buy hundreds of properties every year. We have the cash in the bank to buy quickly and the expertise to do it in any timescale you want. And we’re independently recommended by property experts like the team at The Advisory, Home Selling Expert and Property Sale Watchdog.”

#protip4 – Going, going, gone? Sell at auction

Chris says, “Not every house is suitable for selling at auction. Talk to your estate agent about whether it is an option. The type of house that does well is one where an potential buyer – usually an experienced investor - can see ‘potential’ to add value and make a profit. You must do your own research into different auction houses to make sure you pick the right one, and you should always get more than one valuation done. A great starting point is to use EIG.”

#protip5 – Put your best foot forward with budget friendly home improvements

Chris says “If you want to get the best price for your property then you need to take on board feedback from any previous viewings. If the feedback is about the property rather than the price then if you have the time and money, it is worth redecorating, decluttering, depersonalising, deep cleaning and tidying to make sure you are making the right first impression. You want people to imagine themselves living in the space with minimal effort.”

Chris concludes, “If you’re not sure what the best way to sell your property is then give our team a call. As well as giving you a cash offer, which you don’t have to accept, we can give you our expert advice on the best options for you. We know selling to us isn’t right for everyone and are very happy to share our expertise to help get you sold.”

Find out more about selling your house fast with House Buyer Bureau here