Useful strategies for successfully selling your property in a competitive market
Selling houses is relatively easy in a buoyant market, but how can you make sure you sell your home when things get a little more competitive? Read this article to find out more.
Selling your home is a huge decision, and when it is known as one of the top three most stressful things a person can do in their lives, it's little wonder that we only move on average once every 10 years or so. But it doesn't have to be so stressful. There are strategies and plans that can alleviate many of those problems. With the right mindset, you can sell your property without significant issues. This means you can move into your next home without the stress hangover and simply get on and enjoy your new place, making new memories.
Much of the stresses involved in the property selling process come from actually getting the sale in the first place. We have an idea of what the process will be like before we launch. A photographer visits, and the agent will make a brochure, which will be posted online and maybe even some social media posts. As the seller, you can share those and promote your property to your followers online, and a for-sale board will be put up outside the house. From then on, everyone in your life will know you're trying to sell your home.
You will be asked by family and friends, "How is the house sale going?" Or neighbours in the street as you walk the dog or wash the car will wonder if you'll get the price for it. After all, if your house sells for the price you market it for, your neighbours will know what price their home might reach. You can understand why they are nosey, and you might even see the curtains twitching every time you have a viewing.
With all this questioning and the constant reminder that your home is up for sale, it can soon become tedious if you don't have an answer to any of these well-meaning questions. What if you haven't had any viewings? Or no one seems interested?
Selling a property is a long process, and it takes time to generate interest from buyers. Realistically, with the marketing and preparation that comes before the launch and the weeks of promotion before viewings start to come through, not to mention the period of negotiation with buyers and the legal process that can often take months, the average time it takes for a property sale could be towards a year. And that is assuming that you have interest quickly and offers within the first few months. It certainly won't happen overnight, even for a quick sale.
So, how can you maximise your chances, reduce this prolonged time period and make sure that you are having viewings and not simply 'on the market' but actively trying to sell your home?
Stand out from the crowd: There is no benefit to being discreet here. Make sure that your property stands out from the crowd with interesting interior images or creative wording. You have to consider that a buyer will be scrolling through the properties that are on the market. Hence, you need a way to stop the scroll and capture the buyer's imagination.
Showcase your best features: No one will know about your home's best features unless you tell them. Highlight these features and have them front and centre in the marketing. This could be the kitchen you upgraded, but it could also be the magical way the sunlight streams in through the window just before it sets, leaving a golden glow. A picture paints a thousand words, and it's essential to show these magical moments in a photograph if possible. Maybe you enjoy a coffee outside early on summer mornings - how can you showcase that tranquil moment? Perhaps stage your coffee one morning with a cafetière and a nice cup out on the patio? Maybe you have wildlife come to see you on these peaceful mornings - could you get a photo?
Pricing strategy for success: Pricing strategy is one of the most overlooked elements of selling a home. Homeowners obviously want the highest price that they can get. And Buyers definitely want a bargain. If the price you're looking for and the price the buyer is happy to pay are too far adrift, then buyers won't waste their time coming to view. It is often said that a property is only worth what someone is willing to pay, so if you have no interest, your property may be overpriced. It may be a hard pill to swallow, but overpricing your home to give you negotiation room to come down can be counterproductive and harm your marketing. Generally speaking, if a property starts at a price that is simply too high, the achieved end price is lower than if the initial marketing price had been more realistic. There is a fine balance, and pricing strategy is key to a successful sale, so make sure that you talk it over in detail with your agent and you have a plan B for if things don't go well.
Marketing a home for sale is a big step, so it is vital that you do so with an agent who understands the market and your needs. If you would like to discuss your property moving plans, get in touch with our team of property experts today.