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

6 Tips to sell your home

A successful home sale takes more than tidying up before viewings (although obviously this is still very important!). The attitude with which you approach the situation can really make or break your sale, so here are our tips to help you prepare yourself in order to sell your home:

Make it easy to view your property

When someone is trying to arrange a viewing of your property, make sure you are as accommodating as possible. Each viewing is an opportunity to sell your home so it’s important to try not to miss any.

Don’t be too sensitive

Remember that potential buyers want to like your home; otherwise they wouldn’t bother to come and look at it. The chances are that they have a wish-list of features that they are looking for, which may have been written before they saw your house on the market. When you show potential buyers round your home, be prepared that they might point out any flaws your home has and ask probing questions. Don’t be offended if your house doesn’t turn out to be the one they are looking for.

Stay optimistic

It is easy to start feeling despondent if your property doesn’t attract offers as quickly as you’d hoped. Don’t be disheartened; if you are having difficulty, it may be worth rethinking your marketing strategy. Assess whether the property is competitively priced, whether your advertising reach is broad enough and don’t be afraid to discuss this with your estate agent. Having excellent marketing photos will also help to attract more viewers. You can read how to take great shots of your property in our moving advice section.

Be nice to your estate agent

Remember that in your property transaction, there is a lot that depends upon you having a good relationship with your estate agent. He or she will be more enthusiastic about contacting you if you communicate positively with them than if you moan at them. Trying to sell your home can be frustrating at times but try to encourage them rather than complain to them.

Keep things moving

A good solicitor will always keep you updated about your situation. It is reasonable to expect a transaction period of between 6 and 8 weeks to sell your property, although there are various complications that can slow down the process. A lack of communication can result in the transaction becoming stale, so keep in contact with your solicitor to make sure everything is proceeding as it should. Always update your estate agent with important news so they can pass the message on to your buyers.

-------------------------------------------------------------------------------------------------------------

Puzzled about conveyancing? Why not download our helpful guide – it’s free

-------------------------------------------------------------------------------------------------------------

Communicate via your estate agent

Exchanging contact details with your buyer could be a big mistake. Your estate agent is there for a reason, and although sometimes they can drive you crazy, it is good to have somebody there who can be diplomatic if the situation gets stressful. Also, if your buyer wants to negotiate or has any difficult enquiries, having your estate agent to act as an intermediary will give you time to mull things over before you go back to them with your answer.

The most helpful thing you can do for yourself is try to approach everything with a positive attitude. If you give people your best, you are more likely to get the best back.

Image: Ambro / FreeDigitalPhotos.

Top tips for choosing an estate agent

Thousands of us put our faith in an estate agent to speed up a house move - turning that ‘for sale’ sign into one that preferably reads ‘sold’The process of selling a house can be extremely time consuming and, at times, confusing and that’s why thousands of us put our faith in an estate agent to speed up a house move - turning that ‘for sale’ sign into one that preferably reads ‘sold’.

It’s vital that you make the right decision when it comes to choosing an estate agent to facilitate your house move. Not only are you paying your chosen estate agent to market your home, any unexpected hitches could lead to the breakdown of your moving ‘chain’, missing out on the home of your dreams.

So what are the important tips to keep in mind when choosing an estate agent?

Use recommendations from family and friends
Consult family and friends over the most recent house moves and, if possible, act upon any recommendations you may receive. Any information regarding customer service and efficiency is certainly worthwhile, but you must ensure any recommendations you receive come from friends and family in the same area, as agents may have a number of branches that work differently.

Research your area
Watch the market in your area so that you are aware of which estate agents are particularly strong in selling your type of property. Some are very good within their specialist regions, such as selling smaller properties vs those renowned for the upper end of the market. Remember, potential buyers will be doing the same and will only register with estate agents they believe will have relevant types of properties.

Don’t be afraid to shop around
While the first estate agent you visit may appear to be offering you a good deal it is always important to shop around to bag an estate agent that is not only financially acceptable but has your best interests at heart. Most estate agent fees range from 1% to 3% but the agents that offer cheaper rates may not necessarily represent the best deal on the whole – there is plenty to consider!

Discuss your estate agent’s marketing plans
In order to make sure you get value for money from your eventual estate agent it is important to discuss their plans on marketing your property for sale. Whether it is internet-based or a mixture of the two you want to know that your property is receiving the best exposure possible.

-------------------------------------------------------------------------------------------------------------------------------------------------------

Looking for direction about your house move? Read our guide to selling your house.

-------------------------------------------------------------------------------------------------------------------------------------------------------

Avoid restrictive contracts
Always ensure that you read the terms and conditions of your contract before you sign on the dotted line. Overly restrictive contracts can stop you in your tracks. Some terms include a requirement that you remain tied to them for a set period before you can market your house with another estate agent. Always keep an eye out for ‘sole agency’ agreements which entitle the estate agent to commission even if you eventually complete your house sale privately.

Consider using multiple agents for a quick sale
It is not unheard of to use multiple estate agents if you are looking to maximise the exposure of your house for a quick sale. If that is your aim then ensure you read the small print and avoid tying yourself down to one particular agent. If time is of the essence you may consider a ‘multiple agency’ contract which entitles several agents to market your property although you will undoubtedly have to factor in higher fees and commission.

Choosing and working with an estate agent for your house move can be a stress-free experience if you make the right choice to enable the home removals process to run smoothly.

Decorating to sell on a low budget: 10 tips for impressing buyers

If you want to sell your home, but don’t have the budget for a complete makeover, think about the small touches you can add to your property that will make all the difference when impressing potential buyers.

Here are some suggestions to get you inspired:

1. Declutter

This is perhaps the most important thing you can do. If you have lots of clutter, it could detract viewers from seeing the potential your home has to offer. Why not give yourself a head start on packing to move and put some of your items in storage, ready for moving day? This will help you to impress buyers with a nice clear space that complements your property’s best features.

2. Storage

Renting storage space is not expensive – a small storage unit (big enough for a 1 bed flat) can cost in the region of £15 per week with BigYellow Self Storage*, though costs can vary depending which company you choose. Read our blog about storage for more information.

3. Depersonalise

Aside from clutter, personal items like family photos could also distract viewers from looking at the actual property, and make it more difficult to imagine living there. So put these out of sight when showing viewers round, and avoid having too many ornaments on display.

4. A lick of paint

This is one of the easiest ways to make your rooms look fresh again. A pot of paint or two won’t cost a fortune and a new colour can completely transform the look and feel of a room. When you are decorating to sell, it’s best to stick to neutral colours, and you’ll be able find a whole range of cool and warm tones available to suit every kind of space.

5. Go Neutral with splashes of colour

It is likely that a neutral colour scheme will help attract buyers, but this doesn’t mean it has to be boring! You can jazz up neutral tones by adding a splash of colour here and there with the accessories you choose. Try adding a few homely, yet impersonal items; like cushions, throws, candles, or flowers.

----------------------------------------------------------------------------------------------------------------------------

Nervous about moving? Our Guide to Selling your House could help.

---------------------------------------------------------------------------------------------------------------------------- 

6. Clean kitchen and bathroom

If you need to update your kitchen but don’t have the money for a new one, perhaps you could paint your existing cupboards for a fresh new look. You can buy specialist paint, made specifically for this purpose and you’d be amazed at the difference it can make to your kitchen’s appearance. Also, clearing your kitchen’s work surfaces will create the illusion of having more space instantly.

7. Replace or re-grout

If you can’t afford to renew a tired bathroom suite, you could just replace your old tiles. This is a much cheaper option and you can find tiles to suit any kind of budget. If you are doing the tiling yourself, choosing larger tiles will cut down the time the job will take.  Alternatively, re-grout the old tiles and replace any mouldy sealant, which instantly lifts your bathroom.

8. Finish all those little DIY jobs

If you’ve got a list of repairs that need doing, this is your last chance to do them! If there is anything that looks unfinished, it may lead buyers to worry about larger issues lurking beneath the surface.

9.  Wash your curtains

Particularly if you have net curtains....  clean nets will let in more light.  Cleaning old curtains will help eradicate any smells, and you may be able to sell them with your home.

10. Don’t forget your exteriors.

A lick of paint to your front door or even a good clean down with a damp cloth will make a good first impression.  Clean the windows inside and out to maximise natural light. Mow the lawn as well, for instant neatness and tidy up the edges of your garden.

Don’t forget to read our other blog posts for more helpful advice for attracting buyers.

*Estimate is correct at time of publishing  Image: FreeDigitalPhotos.net