First Time Buyer Obstacles: when sellers aren't selling

Logically, you would think that if someone went through the effort of putting their homes on the market, that they would be motivated to sell, wouldn't you? Well, most often that is true, but sometimes, its not.

Why, you ask? And it's a very good question. So, let's delve into this and explore why and what to do if this is your situation.

Buying and Selling is grey

Buying or Selling a home is not the binary decision you might think. It can be fraught with so many emotions, both positive and negative. These are usually push and pull factors which draw people from one place and move them to another.

The stronger the emotional connection a person has with their home, the harder it can be for them to leave, even if they must.

So, many homes are put on the market, listed for sale with Zoopla or Rightmove and yet, when an offer is made on the home, the seller can turn it down, or worse, ghost you. I've heard all the reasons before. "I've just listed it to see what happens" or "I will only consider moving if I get £££ price" even if it's way over its true value. In fact, those are often the homes which are listed beyond what they're worth.

There are three main groups of Sellers who aren't selling

1. The Water Testers: These sellers have listed their properties "just to see if it gets any interest". They usually have no need to move but are just curious about the market's response to their home. Maybe they've just undertaken a major renovation and want to see how much more their home is worth. It can be difficult to get them to commit to selling because they don't have a strong reason which is driving the sale.
2. The Rigid Pricers: These sellers have a figure in their heads and are only likely to sell if the number is met. These sellers usually set unrealistically high asking prices and are most unwilling to negotiate on price.
3. The Reluctant Sellers: This is probably the biggest category of sellers who aren't selling. They have a need to sell, but for other factors (emotional, comfort or familiarity) they don't want to sell. This group can be broken down into 3 subsections:
   • Those who have to sell for financial reasons
   • Those who have to sell for family reasons, and
   • Those who have to sell for health reasons

If your offer even gets accepted by any of these sellers, you can become exasperated with the process. Sellers who take to long to make a decision, take too long to respond to queries or generally make you feel like they're sabotaging the transaction. And consciously or subconsciously, they could be doing just that.

So what are your options? The simplest could be to choose a different home. But if the home they are selling is the only one for you, and you have no urgent need to move, then you could try and pursue your purchase. Those in Group 1 and 2 are the least likely to budge, but as time progresses, the need to sell for Group 3 could become more pressing and eventually it will become urgent. Being sympathetic and respecting their situation could help them feel assured that they are selling to the right buyer—you.

This is indeed a challenging group of sellers to deal with. By being able to identify if your seller falls into one of these categories, you will be able to work out how best to handle the situation for you. The earlier you know, the less frustration you will experience. Empowering you with knowledge, one seller type at a time.

And if you are encountering a challenging seller, book yourself a 1-1 coaching session. Your purchase deserves the expertise which a seasoned guide can provide!