Market conditions have most certainly changed from Q1 and Q2 of 2017, and now more favourable of a ‘buyers market’. However, buyers are still active in the market, viewing properties, making offers and experienced agents are snapping up these buyers for their clients.
So what are the experienced agents and their clients doing differently?
Mainly great communication and attention to detail with a clear marketing plan.
As a minimum, you should have a conversation with your selling agent in the following areas:
1. Understand your competition
Which properties are you going to be in competition with, and how does your property compare? Highlighting the areas of your home that are superior and making clear points of advantage will help. As an example, is your garden larger, or does it have a Southerly aspect?
2. Understand Buyer emotion
Buyers who are looking for their next family home, they buy with emotion, on a feeling. Within reason, price becomes less important once they find their dream home and will stretch their budget to secure the perfect home. If your agent can find two buyers who become emotionally attached to your property, then a bidding war can start and a premium price achieved. So, treat your advertised price as a marketing tool, a buyer ‘hook – to – book’ a viewing. So, price competitively to get viewings. Without viewings it’s impossible to get offers.
3. Present your home at its best
This subject is a blog on its own, but pay attention to at least the following:
• First impressions are key, stand outside your home and judge its kerb appeal. Neat gardens, a perfect fence, a quality doormat and welcoming flowers or similar set the tone. Windows, soffits and eves should all be neat and clean too. Internally, fixtures such as door handles should be in perfect working order, no dripping taps and create as much floor space as possible. Clear any clutter well in advance too. All painted areas should be fresh and floor coverings clean and in excellent order.
• Set the temperature of the house at an ideal point for the time of the year.
• Time your viewings in consideration of orientation, rush hour, school runs etc.
• Walk around every room with your selling agent and ensure that each is as perfect as possible.
4. Kitchens and Bathrooms
Kitchen and bathrooms sell properties, however if you do replace either then ensure you spend wisely. There is little point installing a £25,000 kitchen in a property valued at £200,000 and likewise spending £5000 on a new bathroom in a £1m+ home would also be false economy.
5. Know your buyers
If you know who is most likely to buy your property, you can better understand their trigger points. What is most important to them? Is it a certain timeframe, or the need for appliances, or something else? If you can make their lives easier, then perhaps you can sway their decision.
6. A quality Sales Progressor on your side
Not all agencies have a dedicated sales progressor within their office, and if they do how good are they? This position is vital in a more challenging market, and most certainly a question you should raise with agents who you interview when considering who to engage.