So, you need to sell your house but there have been very few viewings and no offers on the table. You’re at the end of your tether and in desperate need to sell – and the credit crunch is not helping. So what do you do?
Read On to discover precisely how to secure a sale inside a market that is stagnant.
1 Evaluate Your Position
If your house continues to be on the market for sometime, and you’ve had no new viewings for some time and no offers, it might well be worth taking it off the market for a month, sorting yourself out (see what we suggest below) perhaps going back to the start, even finding a new agent. This will give everyone a fresh approach to marketing the house.
If you are even thinking about trying to sell your home in a flat market, don’t even take that first step until you’ve read our tips below.
2 Be financially Aware
Ensuring that you are completely ready for the sale is detrimental to all proceedings going smoothly once an offer has been accepted. so line up your solicitor and get your mortgage and finances organised.
3 Get A Proper Valuation
Start by calculating or even re-calculating your property’s value and what you may need to do to change that. This may not be as simple as finding three estate agents to give their valuations- this is obviously advisable, but bear in mind that you may have to do some maintenance, too.
4 Are There Repairs Needed?
Unsure about what repairs need doing? When the estate agents come round to value your property, ask them to be completely frank about what needs changing or thrown out.Can they see flaws that could be changed easily, yet make a huge difference.
5 Get Sale Ready
Get the house 100 per cent sale ready. Get rid of all clutter, it can make the room look smaller and unappealing.Some pieces can be put into storage for a nominal cost. It’s pointless spending a fortune on exquisite decor that may only be to your taste and not that of a new purchaser. Spend your money wisely on necessary repairs, and if your colour schemes are loud and individual, redecorate them with neutral shades. Make sure that the exterior of your property is clean and tidy- painting the front door or fence cam make a huge difference. Dress the front with tubs of flowers etc. It is vital that the house is clean.
6 Sort Your Home’s Kerb Appeal
First impressions really do count! A tidy uncluttered garden is a definite must, tidy up front door and sills, ensure that the house number or name is visible. The view from all windows should be appealing. Rooms inside ought to be kept tidy (even when you’re not expecting a viewing- do not be surprised if people stop and have a good peer into your home to see if it might suit them).
7 Research The Local Market
If you have improved the house a lot since the last set of valuations, get the agents round again to value the property. Once you’ve got those valuations, research the properties around you, check similar homes, either through agent windows, local property supplements or property websites,to see what price they’re on at. If a similar house to yours in your street is on at £350,000, marketing yours at £345,950 (for example) might well get you more viewers and a quicker sale.
8 Find Out What Homes Nearby Sold For
Then, research the actual house prices being achieved by these properties – This will give you valuable intuition so that when you do get an offer, you will know how to pitch your response.
9 Check Out The Competition
Get an idea of the quality of the competition – what other properties are your potential purchasers viewing – how does your home stack up against these? Be aware that your potential purchasers will be comparing all properties within their price range, yours really needs to stand out.
10 Research Estate Agents
Clearly it is always tempting to grab the agent offering the highest valuation, because there’s no guarantee they will get that price. Instead, compare fees, ask what they are offering, check testimonials and, importantly, check the contract – it may try to tie you to the agency for too long a period.If you decide not to go with one particular agent, be aware that you may still have to legally pay their fee. Bear in mind that if you go for multiple listings, you will be liable to pay more than one fee, so check the contract fine print.
11 Use The Best Estate Agent For You
Check that the agency your home is on with deals with other, similar homes. Buyers who know an area well will concentrate on targeting estate agents whose properties suit their pocket and style.
12 Set An Asking Price
We all want to achieve the maximum price for our property, but if priced too steeply, it simply won’t attract viewers, let alone offers. Let all your research be your guide here, and take your agent’s advice.
13 Be Proactive When Marketing Your Home
Ask your agent about how you can actively get your house in front of as many suitable potential buyers as possible – make sure your home is constantly prominent in their window, on their website, will they set up an ‘open-house’ day to get lots of people through the door on one day.
14 Demand The Best Details
Check the house particulars prior to them being sent out, Could the pictures be better – for instance, if your house first went on the market in winter, are they still using wintry pictures, which are clearly out of date? Are they selling the house’s best points, including nearby amenities.
15 Know Your Target Market
Your research and information from your estate agent should give you an idea of your target market – retired, family or young couples. This will help you talk about your home in a way that’s relevant to the individual viewers. this will enable your agent to give viewings to suitable clients, it is pointless a large extended family coming to have a look if you’re selling a one bedroom flat.
16 Get Your Energy Performance Certificate (EPC) Ready
Home Information Packs may be a dark and distant memory, but you must have commissioned your Energy Performance Certificate when you put your house on the market. It’s designed to tell buyers how energy efficient your home is, don’t stress out if your older period property doesn’t’ do too well – it is rare to find an older property that does do particularly well – usually buyers are aware of this fact.
17 Get Regular Feedback About Viewings
Once the house goes on the market, keep in touch with your agent, post viewings it is a good idea to phone for feedback, take note, if anything can be rectified make sure you act upon it (ie, a potential purchaser may have been put off by a dire bathroom)
18 Know Home Inside Out
Measure the rooms, find out about local amenities, such as schools, public transport, hospitals, play centres, shops… and be prepared to brag about them to potential buyers.
19 What Added Benefits Can Buyers Get?
It’s all about making your home seem like such a good bargain, if there is a decent set of swings or climbing frame in the garden and you would be happy to throw them in as part of the asking price, make sure you tell them. Same thing goes for first time buyers and curtains –
20 Work Your Space
A double bedroom has more value than a single, and a single bedroom has more value than a study, so show the rooms off to their best use to maximise their appeal.
21 Dress Your Home For A Viewing
It’s all about staging on the day. It goes without saying that the house should be spotless, but there are a few other things to consider that are easy to fix. If your home is a shrine to your children, with photos on every surface and on all available wall space,put them away as this may hinder the buyer visualising themselves living there. Get some fresh flowers for the dining room and put on the coffee maker… Need ideas? Developers spend thousands of pounds ‘dressing’ show homes, visit a couple of local developments for a few ideas of how you can display your rooms to the best advantage. Remember these show homes may be your competition.
22 Clear The House For A Viewing
If you’re desperate for a sale, desperate measures are called for, if you have a whole menagerie of animals, banish them from the majority of rooms whilst your home is on the market, neutralise all odours as this can be very off- putting. Last but not least, turf the pets, kids and other half out for the duration of the viewing – there’s nothing worse than trying to view a house that’s full of people and noise.
23 Get An Experienced Agent To Show Your Home
Your agent should be present, ideally, but check that the person they’re sending knows the house and can really sell it. It’s no good a junior with no real knowledge turning up, and if this is the case, you should be there to market your house yourself. If, however, a senior team member can be there, your presence could hinder rather than help if you are not careful. If in doubt, check with your agent.
24 Get Your Sales Pitch Right
If you are showing people around your home on your own, know in advance the order in which they should view each room. Allow viewers to enter the room first, then follow them in. This lets them see the room from a better vantage point, if the room is on the small side, it can make it feel more spacious. Keep doors as wide open as you can, this also gives a feeling of space. Think about the benefits of each room and share them with viewers. Then let them walk around on their own. Disappear into the garden for 10 minutes so viewers can talk without you milling around.
25 Don’t Look Desperate
Be relaxed and positive about your property, have information ready, such as utility bills, guarantees and notes about maintenance work. Enthuse about the plus points of living in your area, such as good schools, a local swimming pool, good commuter links, etc. Give the viewers time on their own to walk around inside and out. If you’re nervous about viewings, get the estate agent to do it – though no one knows your home better than you do to show off its strengths.
26 Be Positive
Give nothing away to a prospective buyer which could be used against you. Obviously, if there are major problems, such as subsidence or damp, you will have to be honest. If you inform your buyer that you need to sell as quickly as possible and can’t wait to get out of the place, you are asking for a low offer. Before buyers leave have a relaxed chat to discreetly find out about them and their circumstances.
27 Consider On An Offer
Knowing how low you are prepared to go for a sale in advance will help you make a decision when you do get an offer. Be informed about your buyer’s situation, it is important to know exactly what position they are in, ie, do they need to move quickly? Are they chain-free, cash-buyers? And if you are paying for an agent, use them to deal with the buyers. Your Conveyancing solicitor will also be able to inform you of these details.
28 Start A Negotiation
Never start a negotiation by asking the price you want, since the buyer will just assume they have to negotiate you down from there. Don’t dismiss a low initial offer out of hand, either, even if it is far too low. Inform them of the range that you are prepared to go within, and wait for the purchaser’s response.
29 Take The Offer And Run!
After a successful offer, don’t drag your feet get the ball rolling. Contact your mortgage lender, organise your survey, notify utilities and arrange final readings, arrange mail redirection, and book a removal service. Keep in regular contact with your solicitor to ensure the process progresses smoothly and speedily. Don’t let a sale fall through because of delays you’ve caused.
30 Keep Your Sale Active
Even once the offer has been accepted you do not have to take your property off the market. This is really up to you whether you do this or not, but you must inform the relevant parties as to what you are going to do. The estate agent is legally obliged to tell you of new offers, right up to the point when you exchange contracts, though you risk upsetting your buyer as he or she will have already paid out for legal and valuation/survey fees. The system is different in Scotland. This is not good practice (morally), but in a flat market when you need to sell your house for as much as possible, keeping your house on the market while your sale starts to go through is often a sensible option.
Why not speak to trusted conveyancing solicitors today to get the advice that you need.