So, it’s time to put your house on the market! You have had several valuations, you have researched comparable properties, taken a look at the local and national housing market, and you are happy with the asking price you have decided on! But, instead of simply sitting back and hoping, here are some top tips for ensuring you get the full asking price…
- Sweeten the deal – Homebuyers want to feel like they are getting a great deal. Entice them with something that is going to make your deal hard to refuse. There are many incentives you could offer – if your home is situated in an exclusive neighbourhood, how about a year’s membership to a luxury club? Or, try the more practical approach with a transferable home warranty.
- Fix anything that needs to be repaired – You can’t paper over the cracks when putting your property on the market. Buyers today aren’t stupid. Plus, you can rest assured any issues will come out during the survey, and this gives the buyer leverage to demand a lower price. Whether it’s residential AC repair or filling a few cracks around the home, make sure you do it.
- Stage your home – Home staging can ensure you get the asking price you have decided on! This all revolves around setting up your home to increase its value and chances of selling. You need to declutter, increase space, clean thoroughly, tend to necessary repairs, and repaint your home in neutral shades.
- Have brochures printed – A high-quality brochure can go a long way! A lot of estate agents are scrapping this idea because they don’t want the costs associated with it, but don’t let your agent! Brochures give a luxurious aspect to your home and are an exceptional way of showcasing everything your house and neighbourhood has to offer. You can also include some information on rental yields for buyers looking to invest in rentals so that they know how much they can make on your property.
The best price is the right price
Have you lost confidence in your asking price? Or, maybe you are considering overpricing your property just to see how it goes for a few months? Neither strategy is advised. The best price is the right price, and here’s why…
- Overpricing – A lot of people think it is a good idea to set their property at a price higher than what it is worth. Why? Well, some do it because they know a lot of buyers end up offering below the asking price, whilst others just want to push their luck. If you price your property too high you will be on the market for a longer time and you will miss out on opportunities.
- Lowering your asking price – If you have had your house on the market for a little while now and don’t seem to be getting any interest it can be extremely tempting to lower your asking price. But, you shouldn’t! It will make buyers think that there is something wrong with your property.
You need to do your research on comparable properties – those that have sold, those that haven’t, and those that are still on the market – and you need to couple this information with valuations from several estate agents to come up with your asking price. By doing this, you know you have the price right, and you should be confident in what you are asking for!
If you want to sell your home next year, you need to make sure it is ready to be sold. Here are some tips on navigating the property market successfully.
Can using more than one estate agent help you to beat the tough market?
You may be tempted to instruct more than one estate agent to handle the sale of your home. After all, the wider you advertise, you may think, the quicker the property will sell. And a little healthy competition never hurt anyone.
Unfortunately, that’s not always the case. In fact, all you may be doing is creating confusion and sabotaging the efforts made on your behalf. Each agent will probably take their own photos of the property and write up a description in their company’s own house style. These can vary greatly from agent to agent. You may even find that two estate agencies will disagree on value and your property is advertised at two different prices on the same website.
These days, over 80% of people start their property search online. It just looks desperate if your property crops up time and again with different agents. And that is not going to help encourage buyers.
It’s far better to choose your agency cleverly in the first place. Do your research. Then, like any good relationship, work hard at making it work. Keep in touch with them on a regular basis, thank them often for their efforts and that way, you’ll keep your home at the forefront of their agenda.
Be careful about any changes you make
A garden lawn punctuated with weeds. The steady drip from leaky guttering. A broken porch light. All little items you may have lived with for a long time. They were inconvenient when they first happened, but you barely notice anymore. However, you can be sure your property viewers will. These are the kinds of details that may create uncertainty in a potential buyer – if these small maintenance jobs have been overlooked, what bigger problems are lurking beneath the surface?
It’s true that attending to minor details like this won’t help if the roof needs replacing or the electrics need re-doing. But why risk putting off a serious buyer by leaving them with an overall impression of an uncared-for house that will cost them time, money, and effort in the future?
It’s the work of a moment to replace a broken light bulb. Weed killer takes a little longer but is still not exactly a time-consuming activity. And it’s relatively cheap to get a man in to clear and fix your gutters if you’re not confident enough to climb a ladder and do it yourself. One of the biggest turnoffs is old and dirty carpets. Look analytically at your home and what you can do to prove it against even the fussiest buyer with just a little care and attention.
Hopefully, the tips provided can help you sell your home in 2020. Good luck.
