***NEW SEPT 2020*** Facebook Group Content
Westvalers... I hope everyone's cool.
I've seen a load of re-sale properties pop up where people are trying to sell so wanted to share my top 10 tips when trying to sell
1. Price at the portal trigger points... I've seen properties marketed at prices like £305,000 . Offers on excess of £300,000 would be better and mean you'll still be seen (at the top of searches where you want to be) by people searching upto £300,000. At 305k you won't be seen.
2. Price to Compete, not based what you 'need' or what you spent on the property. When selling anything, first things first, you need to compete with whatever buyers can buy for a similar amount of money. Don't price 20k higher than the property down the road because you have an upgraded kitchen. Price to Compete with the one down the road, use an offers in excess of or guide price pricing strategy, get the buyers in, let them see and feel your lovely kitchen and appriciate why you're looking for 20k more... Price to Entice always
3. When choosing an agent. NEVER sign a time bound contract i.e. 12, 14, 16 weeks. The fact they're asking you to commit for so long should get the alarm bells ringing. If they're confident in the advice they've given you and are confident they'll give you a great service, they shouldn't need to tie you in.
4. MUST have professional photography these days to grab buyers attention online. Especially when there's so many properties available on Westvale now. And by professional, I mean an actual architectural photography company, not a colleague from the estate agents office who's been on a days photography training.
5. Make sure you're checking things like: Average days on market, average % of asking price acheived, average number of offers per sale (you don't want the only buyer. You need options when selling which mean ideally having multiple offers from different buyers in different positions), sales agreed to exchange of contracts success rate. Some agencies are seeing a 40%+ fall through rates at the moment if they're not financially qualifying buyers correctly. Everyone and their cat wants to buy at the moment. That doesn't mean they can. Especially with lenders getting more and more cautious.
6. Check the agency is a rightmove premium partner meaning your property will be seen top of search results... Think page 1 of Google
7. Make sure agents show you their step by step sale plan. Including social
8. Make sure you see their 'Anti-Stagnation' plan. 70% of interest will come in the first 4 weeks of marketing... What if you're not under offer in that time?
9. Will they help you with the Negotiations on your next property?
10. Are they local? Lots of buyers are moving here out of area so having an agent who knows the area well is crucial.
BONUS: Try not to be too fixated on a price (hard I know). Think 'overall outcome'. Example: A no chain/cash buyer may offer you 10/15k less than you need/want but because that buyer can move quick, you're agent should be able to negotiate you 20/25k off the price of your next house so you're actually financially better off 'overall' by taking the lower offer on yours
Soz for any typos, tried typing this whilst Paw Patrol jamming in the background and my 2 year old climbing over my head
ADMINS, feel free to pin this post. Hopefully it helps thy neighbours
I live on Westvale (love it) & own at top 3% in UKestate agency so just fire me any messages/questions and I'll put you in touch with our Horley specialist who can help further
ADDITIONAL TIPS IN THE COMMENTS:
Comment 1: Forgot one . Make sure your agent is actually qualified in Negotiaton. That's what you're actually employing them for
Comment 2: Forgot another one... I'm like pringles, once I pop I can't stop
Don't multi-list with multiple estate agents...
1. It gives the impression your property is hard to sell. Not a good look.
2. It weakens your position when Negotiaton. You can't really use the line 'thanks for your offer but we're not desperate to sell'...
You need 1 agent with an awesome plan/strategy. Not multi agents with no plan