Slow movers – why property doesn’t always sell.

by on 1st September 2017

We have a proud record at Hogan’s – when we get a property for sale or to let, they go quickly. There’s no easy way of explaining why it happens – but it does. We have a huge database of qualified buyers, a great reputation as Leeds letting and estate agencies and, we think and hope, we’re entrusted by hundreds of sellers, landlords and buyers with their most valuable asset – their home.

It’s not the same all over Leeds and West Yorkshire though and we have what is called in industry terms “slow movers” – properties that are on the market with other estate agents that are not selling.

We’re not talking properties listed a few months ago either – there’s some, we kid you not, that have been for sale and remain unsold for up to 4 years!

So why do some properties not sell?

We asked Stephen Thorpe and Adam Parkin for their take on slow movers and they supplied five reasons:

1. PRICE. “The first obvious reason property may stick,” says Stephen, “is over-pricing. That terraced house worth £65,000 may have been valued at £85,000 by another estate agent to get the listing. The problem is that buyers are pretty price savvy and know if something is overpriced and they don’t enquire or view. Pricing is crucial.”
2. MARKETING. “We are big users of social media,” adds Adam, “with a Facebook page liked by over 4,000 people, an active Twitter feed and four other social media platforms. We do get enquiries from each and we do respond quickly to questions. Marketing is not just about a few photos, and putting it on a portal. You have to make sure the property is seen by potential buyers and tenants on Instagram, Facebook or Pinterest. We have a blogging tab too which Stephen talks more about here.”
3. LOCAL KNOWLEDGE. Hogan’s has been in Harehills for over 30 years – we know the Leeds property market intimately and with the Online Plus model, Adam has a roving brief across West Yorkshire. We know Harehills and Beeston well, locally, but have ventured into places like Wakefield and Castleford too with successful fast sales there. “Having a physical presence in Leeds,” says Stephen, “means that we know our community and property market well. We can call on comparables and advise on getting the best price for your property without it becoming a slow mover.”
4. DATABASE. We have an extensive database of clients as an established Leeds property management company. “Qualified buyers too,” adds Adam, “one call or email to alert these can mean a quick sale for you, meaning you’re not left paying that mortgage or having rental void periods for weeks and months.”
5. CLUTTER. We’ve written about this before. Worth repeating though. You are selling or letting your home and buyers and tenants have to visualise being able to live there comfortably. If your house is decluttered and ready to move into, you will sell faster and for a higher price.

Slow movers. Industry term. Not one we use a lot at Hogan’s. If you know someone who is keen to sell and having no luck with their agent across Leeds and West Yorkshire, point them our way.

We sell and let properties quickly.

You can trust us.