6 Tips for selling property in a difficult market

It’s been a difficult year in the housing market, and with fears of a return to recession, things are not looking up.  Buyers are strapped for cash, finding it harder to get a loan, and complaining of a dearth of affordable property available. 

However, there will always be people who for one reason or another need to move, and you can do a lot to help yourself to attract those serious buyers to your property. So if you are selling, you might have to work that little bit harder these days, to close a deal and here are 6 tips to help you get on your way.

1. Choose your estate agent carefully

In tough times it is more important than ever to have someone on your side who has good local knowledge (the wider reach of a network as well is a bonus) and is a skilled negotiator on your behalf.  Personal recommendation is always a good way of identifying a good agent, but even more critical is feeling reassured that this is a team that will represent your interests well, and with whom you can work during what could prove to be quite a stressful time.  See our blog on Tips for Choosing your Estate Agent

2.  Price Realistically from the start

This will save you time in the long run: if you are too aggressive to start with, you’ll only have to bring the price down later on.  By that time your details will be looking tired to serious prospective buyers in your area.  Your property may also be listed on some property websites that monitor every sale price as it changes, such as www.home.co.uk.  It is not always healthy for buyers to see how you have lowered the price.  Check what similar properties in your area have fetched on mouseprice.co.uk, and be realistic about how yours compares.

3.  Make a good first impression

It’s more important than ever in a poor market to make the property as attractive as possible.  Dealing with an unruly front garden, cleaning the windows and their woodwork, keeping the place very tidy and so on cost little or nothing and make a big difference.  (If necessary, the cost of a coat of paint can pay for itself.)  Not only will the place look nicer, it will look as though it is loved by you, which will increase its ‘curbside’ appeal.

4.  Be flexible

Prepare to negotiate and to offer extras such as legal costs, repairs and renovations (or a discount to cover them) as well as fixtures and fittings such as appliances and curtains.  Make sure your estate agent listens carefully to any concerns the prospective buyer has and feeds back to you.  Then you can react immediately to counter wherever possible.

  5.  Embrace technology

Make sure your estate agent has the main property sites covered, and make creative use yourself of the tools at your disposal.  Sellers are increasingly making YouTube videos to showcase their property.  Tell all your Facebook friends that you are looking to sell – you never know, one of their friends might be looking!

6.  Help with viewings

If you are on hand to answer any questions about the fabric of the property and the local area, then as long as you can be enthusiastic and come across as trustworthy and accommodating, you could be an excellent spokesperson.   Print out any local planning applications that may or may not affect the property as these will arise in the solicitor’s searches anyway. See more in our article Information To Reveal to your Buyer. This way you can chat about their likely or unlikely impact informally.  The personal touch might just tip the balance.

Look on the bright side: in today’s market you’ll have fewer prospective buyers but they are less likely to waste your time, and some effort on your part can really pay dividends.

image:  ddpavumba / FreeDigitalPhotos.net