How to sell a house in today’s tricky market
Everybody knows that painting your front door can help to sell a house – but what other hacks can you take advantage of?
Just like painting the door, adding a few attractive planters and pots instantly makes the entrance a feature and hints at a home that is looked after and makes a buyer want to discover what’s inside.
On any residential street you will find the exterior paintwork will weather over time, so try to keep the outside of your home in a state of good repair. Clean windows will make a big difference, allowing natural light to come in. Internal leaks or (even historic ones) should be repaired as should small redecoration work.
Minor improvements don’t cost much but can prevent alarm bells ringing for a potential purchaser. Any buyer arriving for a viewing will be intent on thinking about the property and may not welcome distractions – so try to keep energetic pets and children in the background. It’s obvious that a comfortable but clutter-free home will be more appealing, so it’s worth having a sort out.
Also consider lighting; it can be a mood changer. If the property is vacant, ensure it’s dressed if possible. The majority of buyers struggle to envisage how a room will look without furniture, or whether a bed will fit and how they will use the space. There’s a reason why all prime developers ensure their developments have a show apartment. If you have parking, consider an electric charging point.
PITCHING YOUR PRICE
Providing a market appraisal is not an exact science and while anyone can freely access multiple data points to assess value, the most important piece of advice comes down to listening to your appointed agent. They should be an expert in your local area with first-hand knowledge and research to advise a client about what asking price they should set.
This includes recent sale prices on the street and in the area, what comparable properties are currently on the market and for how long, any proposed developments or works in the area, any improvements made since the property was last sold, as well as the type of buyer profile suited to this type of property.
Look to work with an agent who will be there for the duration and not be swiftly replaced by a junior negotiator with little experience. Make sure the agent knows the intricacies of your specific home and won’t just open doors blandly pointing out obvious things. It’s all about the detail.
Finally, don’t appoint an agent because (a) they give you the highest price or (b) they go low on their commission. If an agent can’t negotiate for themselves over their own fees, there is little chance they will negotiate efficiently on your behalf with a prospective buyer.
PLAN, PLAN, PLAN
Be sure to get organised in advance of securing a buyer by instructing a solicitor, contacting managing agents if appropriate and getting the necessary documents in place for works that have been undertaken to the property during ownership, so that when an offer comes in, everything is to hand.
In a market where buyers are cautious with higher borrowing costs, an impasse can be reached where a buyer will refuse to increase their offer any further and the seller will hold out for a bit more; again, an adept agent should manage this negotiation and find a sweet spot for both to agree.
In today’s market a buyer will use the length a property has been on the market as a downward negotiating tool, meaning that more often than not the first offer is the best offer…so take it!
• Simon Tollit works for tedworth.co.uk