TOP TIPS ON HOW TO SELL IN THE NEW YEAR!Get it wrong and you won’t know how much you’ll end up with or when you’ll sell. Recent Land Registry research revealed if a property’s asking price is changed up or down, it can take over 100 days to sell – and an average of 59 days if priced correctly from the start.
Too high a price can scare off first viewers who are often the most suitable and subsequent price drops will be visible on property websites. Over-valuing also increases the risk of down valuation and/or gazundering which could delay or jeopardise a sale. A higher price may secure an agent business –not necessarily a sale!
Relying on portals such as Rightmove and Zoopla to check the price of recently-sold homes and even compare price per square foot is useful but no substitute for a professional appraisal from a knowledgeable estate agent.
Some sellers believe their property will achieve the same price however it is presented and whichever agent is selling. If so, their choice of agent can depend on lowest fees and highest valuation rather than appropriate asking price, marketing strategy and avoiding potential pitfalls.
ONLINE OR HIGH STREET AGENTS?
Online agents have little or no incentive to sell whereas their fee may not include VAT, accompanied viewings and freedom to use your own conveyancer or solicitor. This could explain why 19 out of 20 sellers still put their faith in High Street rather than online estate agents.
Another reason is that around 1 in 3 sales fall through after terms are agreed and High Street agents’ expertise in managing chains is crucial – especially as their commission is generally only due if they introduce the buyer who completes a sale.
Around 50% of sellers withdraw their homes from sale within three months for which they would pay nothing if listed with a High Street agent but would have already paid if online.
Online agents hope to generate interest from their websites but if that doesn’t work their only option is to reduce the asking price so sellers could lose even more. It can be cheaper to use online agents if they sell your home – otherwise you’ve paid for a very expensive listing!
Recent independent consumer research found High Street agents achieve more viewings and offers and, in almost three quarters of cases, a 5% better price than online firms.
PREPARING YOUR HOME
Better presented homes sell quicker and for higher prices – irrespective of market conditions. Most buying decisions are made within a few minutes of arrival so we explain how to show your home in the best possible light depending on your budget and timing.
Remember the basics – clean the front door, windows, curtains, flooring, blinds, oven, hob, kitchen cupboards and bathrooms, as well as replace dead light bulbs, tidy and declutter putting surplus contents in a loft or shed, etc. A fast broadband connection has become almost a necessity.
If little response is received within a few weeks, your property may be over-priced and stick on the market so consider changing price, presentation, and agent – or all 3!
You need to be 100% ready to sell so have available utility bills, consents, details of boundary ownership, rights of way, and, if leasehold, service charge and ground rent information. You should also instruct your solicitor or conveyancer to prepare a legal pack ready to send out as soon as an offer has been accepted.
Why Jeremy Leaf & Co
As independent local agents, Jeremy Leaf & Co have always had to fight for market share, selling thousands of properties at excellent prices for over 30 years. Apart from working very hard, our secret is to constantly give feedback on the strength of demand for different properties based just as much on what’s selling as not.
We never forget the first rule of marketing is you don’t get a second chance to make a first impression. It’s not just about what happens in the first few weeks but until an acceptable offer is secured.
There’s no substitute for professional advice in person from suitably experienced and RICS/NAEA qualified High Street agents like Jeremy Leaf & Co, who can add to value and saleability as well as reduce the risk of problems arising in the sale.
Most staff live locally and have worked with us for at least 10 years. The internet is a very useful tool for making buyers aware of a property but our best work is done over the phone or face-to-face. Our customers have a single point of contact from appraisal, marketing, viewings, offers and conduct of the sale through to completion. We are a great place to start!