The Value of your Property
Valuing a property correctly is crucial to the successful sale of your home. Pitch the price too high and your property may compare unfavourably with others at the same price and you risk losing ideal buyers; too low and buyers may question what is wrong with it.
It has been known for some estate agents to over or under-value property for their own financial gain. Agents who over-price property do so to impress the vendor and win their business. At this point, the seller is then tied in to a contract. Discontentment and frustrations flare when you are then forced to lower your asking price, because the property fails to sell.
It is fully understandable that you will want to achieve the best price for your property, and it is very tempting to ask just that little bit more.
Some less scrupulous agents understand this only too well, and will deliberately over-value your home to win your business. However this can have less than satisfactory consequences for you.
A Professional Estate Agent will have considered several important factors when valuing your property, including; -
• The location and character of your home
• Its features and condition
• The current market price for similar properties in the same location
• The demand for similar property in the market
• Projected market trends and conditions
Presenting your Property for Sale
First impressions really count, as most buyers form an opinion within the first 15 seconds on entering a property Here are some recommendations to maximise the selling potential of your home:
• Place greater emphasis on any unusual or period features
• Sensitively repair or remove any broken or tired looking furniture, fixtures and fittings
• Clean and tidy every room
• Stage key rooms, use props to show how you could best utilise the area to help buyers visualise themselves living there
• Pets can be a turn off for some buyers, so it is a good idea to remove pet hair, their beds and odours from the house
• Unpleasant or strong smells have a negative effect on people; avoid cooking before viewings and it maybe advisable to smoke outside
• The exterior of your home is the first view buyers have of your property; a freshly cut lawn your, tidy garden, well kept plants and an inviting entrance will definitely impress and set the level for the rest of the property - plus your photos will look great.
• It sounds simple, but decorating your home in neutral colours, provides a blank canvass for buyers
• Loud, vibrant colours may be to your taste but to others can be oppressive. Lighter colours reflect more sunlight making rooms feel airy and spacious.
• Remove excess clutter and unnecessary personal items from the floor, shelves and work surfaces.
• Try to arrange viewings when children are at school; too many people in a house can make it appear small and crowded.
• Using props and furnishings such as candles, flowers and paintings, to stage rooms will help to show them off to their best potential.
The Selection of your Estate Agent
Selling and buying property is a complex, expensive, time consuming activity - requiring clear and timely communications, good management, and appropriate knowledge and expertise.
The vast majority of home movers simply do not have the time, resource or skills needed to sell a property on their own, so we need an estate agent to do this for us.
An estate agent’s primary role is to facilitate the sale of your property, providing regular communication, guidance on the presentation of your property and support through the more complicated and stressful stages of the transaction.
They are responsible for the accurate valuation of your property, taking into account the economic issues affecting the market - determining what is selling successfully and why.
The agent will also manage the marketing package for your property. They will be responsible for how it is presented, where and how it is promoted, including online presentation, and attracting and carefully qualifying the right buyers.
In essence, your agent will manage all stages of the transaction from valuation and marketing, to the management of the chain,- all the way through to final completion.
Additional Marketing Options
Your estate agent may offer you additional marketing options, that can help your property sell quickly and may help secure a higher price.
High quality floor plans have been proven to greatly increase interest in a property, enabling potential buyers to build an accurate image of your property and its potential.
Professional photos also play a key role in how your property is presented to buyers - both online, in magazines and also other printed material. However, care needs to be taken that these are well-composed and of high quality.
Advances in online technology, such as iphone applications and videoettes, are becoming increasingly important in property marketing, and should significantly enhance your proposition, helping it to stand out in a competitive market.
Marketing & Exposure
In today’s fast paced and technology driven society, it is essential to market your property in the most effective way with the widest exposure.
The Guild of Property Professionals provides expert advice to help independent agents utilise their websites and define effective online marketing strategies to maximise the successful sale of your home.
The Power of Park Lane
The Guild’s National Property Centre on London’s Park Lane is amongst the very best placed in Europe, attracting clients from all over the world.
We have unique access to this powerful marketing tool, enabling them to expose your property to an audience of buyers which could otherwise be out of your reach.
Promoting your property through a network of independent estate agents greatly improves the chances of your home being viewed by serious buyers across the UK.
By working with the Guild, you can take advantage of some of the most innovative and successful methods of property promotion, including; -
• Professionally presented property brochures dedicated to the sale of your property, including a vendor interview that helps to bring your property to life!
• Powerful PR and advertising, including editorials, blogs, press releases, and magazine feature articles.
• Videoettes unique for your property, available to view online.
• Online marketing; property portals, social networking sites and agent websites.
Selling your property is a significant step, normally involving one of your biggest financial assets. So how do you choose between different estate agents, and what can you expect for your money?
What would happen if you tried to sell your property yourself, or entrusted the marketing to a new, alternative such as a supermarket? These are fundamental decisions and without the benefit of advice and experience, it is easy to make the wrong choice and lose literally thousands of pounds.
At a time of heightened stress this can all be very confusing, especially with everyone promising you a positive outcome, and yet you want to make the right choice.
It is crucial to distinguish between price and value. You don’t want to be ‘penny wise, pound foolish’ and for the sake of a few hundred pounds introduce an unnecessary element of risk into the process - and either ‘underachieve’ on the price or significantly delay your sale.
Independent estate agents, and Guild Members in particular are an essential part of the property market. They provide a unique range of market intelligence, professional advice, essential services, and local expertise which are not readily available elsewhere, and would almost certainly involve buyers and sellers in additional expense if these had to be sourced separately. Estate agents are incentivised by reward and reputation and so are always completely committed to giving you the very best results and service.
A good agent will always look to understand your needs and objectives before offering any advice.