From Move & Save The ” NO COMMISSION ” Estate Agent
Follow these tips about the 3 P’s of marketing your property…Price, Presentation and Promotion and buyers will come knocking on your door.
10. Not Preparing Your property For Sale
This is a classic mistake made by sellers, it is really important to take a little time and effort to prepare and present your property in the best way possible. This includes the tidying up and de-cluttering along with a good clean and dusting.
Pay attention to the outside especially the front as many buyers will find you on-line then do a drive-by to check out the neighbourhood.
Ask the local estate agents ( during your free valuations ) to look at it from a potential buyers perspective and to be honest and objective about the property as it is essential to imagine it through the eyes of the buyer.
9. Over-Spending
So you have decided to sell your property and realise that suddenly the kitchen or bathroom is looking a little dated… what do you do ?
The answer depends on the bigger picture, in other words if the rest of the house has been re-furbished and something like a new kitchen or bathroom would compliment and complete the job then yes, but the advice generally is (apart from essential maintenance) save your money because you don’t always make it back and any improvements may not fit in with the buyers plans.
8. Not Being Serious
Buyers (and Estate Agents) want serious motivated vendors; this means having a plan and being prepared. Some people put their house on to ” test the market ” without any idea of what they want to do next.
Buyers want to know that should they make an acceptable offer you are able to move things forward immediately, they tend to ask what your plans are so if there is no upward chain say so or if you are buying again tell them you have your eye on a shortlist of potentials ready to view and offer, being positive and prepared helps to encourage offers.
7. Not Being Flexible or Accommodating Over Viewings
Having a string of complete strangers wandering around your house can be a pain (it’s better than not having any at all though!) but try to be accommodating THIS COULD BE THE ONE !.
Be as flexible as you can with viewing appointments, if potential buyers can’t get to see your property quickly because ” it’s not convenient ” they assume you are not serious and move on to the one down the road.
6. The Hard Sell / Looking Desperate
Its important to point out the positive aspects but there is no need to go on about any downside and remember something that you think is an advantage or disadvantage may not be to the potential buyer.
You could perhaps mention why you bought the property or try to find out a little more about their needs ie. do they have a family and are local schools, shops and transport important.
Let viewers wander around on their own as they won’t want to discuss things in front of you and don’t pressure or hurry them.
Make sure the house is warm and inviting with no over-powering odours, turn the telly off, turn the lights on and hide the pets. Don’t read too much into a first viewing just let them look and follow it up with a request for feedback.
5. Not Reviewing Your Marketing
Things don’t always go according to plan so be prepared to review your marketing, in particular keep an eye on your local market and other properties around you ( your competition ) to remain competitive.
These days it the internet that generates most enquiries so pay attention to your online statistics which will show how many people are searching in your area and how many have down-loaded your brochure (the 21st century equivalent of going into a shop and taking it) if these numbers are good but they are not coming through the door take action.
4. Failure To Negotiate
This depends on the state of the market and the demand for your location but generally everyone should be negotiable.
You may come to the market with a specific bottom-line price in mind usually based on what you expect to pay for the next one, however there is no such thing as a bad offer because it means a, you have generated interest b, you have had a viewer and c, you have a platform from which to negotiate.
Buyers will expect a degree of flexibility and usually play their part with a counter offer but remember at the end of the day its not the estate agent, its not the vendor it is buyers who decide the market value … “It’s worth what someone is prepared to pay” as they say.
If you get a low offer you don’t have to accept it or reject it, leave it on the table as it may be possible to pass that discount up the line because now you have gone from for sale to (potentially) sold which is what estate agents want to hear when you are making offers.
Don’t feel insulted by low offers its all part of the negotiating game, its not personal, here at Move & Save we handle all the negotiations for you.
3. Choosing The Wrong Solicitor
Not all solicitors are the same, some only see conveyancing as a sideline to their mainstream law business unfortunately this does not become evident until you try to contact them to find out what is happening with a progress report.
Remember finding a buyer and agreeing a price is only the half way point, the post sale process is all about communication making sure all parties are working together and know what is happening.
Move & Save have their own dedicated property sales solicitors who are accessible 8am until 8pm in the week and at weekends as well, you also have access to your personal case file online via a password plus a no move – no fee guarantee so you will not be charged if it falls through.
2. Poor Online Presentation
According to property websites like Rightmove 8 out of ten buyers start their search online so Its vital to present your property in the best way possible, this means a full description with measurements, high quality photographs, floorplans and even video are more important than ever.
The aim is to get your property on the viewers shortlist, remember you have only a matter of seconds to impress them before they move on to the next one so make your property stand out from the crowd with a top class on-line presentation.
1. The Wrong Price
Everyone wants to sell for as much money as possible however there is always the temptation to test the market and ask for more just in case some ” out of town ” buyer shows up with more money than sense. The likely scenario that comes from being unrealistic with your asking price is that your home languishes unsold while all around you people are selling up and getting on with their lives.
Buyers are just too sophisticated these days to overpay, the internet allows buyers to instantly access all properties for sale in the area, they know how long properties have been on the market, how much was paid for the one that sold down the road and how much you paid when you bought it. You can’t force a buyer to pay more than they think its worth and what a buyer is willing to pay is directly linked to what other properties like yours are being advertised and sold for. We would urge you to get a feel for your local market yourself before speaking to estate agents this is because they sometimes have the habit of telling you what you want to hear ! ( i.e. flatter you with an inflated valuation ) get you tied into a contract and then start suggesting price reductions further down the line.
Plus….
Buyers also notice when a property has been “sitting around” for a while or has two estate agents marketing it: they assume something is wrong and stay away. The longer the property is on the market the more time you have to spend on keeping your home in a saleable condition. You could be missing out on good buying opportunities. Even if you do snag a buyer at an inflated price their mortgage lender will be sending a surveyor around to perform a valuation and if they deem your house to be overpriced you either re-negotiate or loose the buyer.
You can get a feel for your local market and prices by searching www.rightmove.co.uk along with market data at http://www.hometrack.co.uk and www.nethouseprice.co.uk will give you a record of every selling price.
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