Top Tips For Selling Your Home This Winter During The Economic Crisis
As the winter fast approaches and the nation anticipates continued economic instability, many homeowners are asking themselves “is now the right time to sell?”. Whilst some may be deliberating, others have committed to the process and want to know how to best navigate what can be an unpredictable journey at the best of times. Andrea Fawell, Sales and Marketing Director at Kebbell shares her top tips on how to get the most out of your selling process during this tricky time.
1. Be well-informed and up-to-date. By being in touch with the current trends and market changes, you will be best placed to set a realistic and attainable plan for selling your home. Try to be objective when looking at what else is on the market, what else your potential buyer could buy, and focus on all the reasons why someone would choose your house. Consider what works for tomorrow’s buyer.
2. Don’t stop selling in December. Anyone who is looking now is serious. Perhaps avoid putting up Christmas decorations, because even the most sophisticated ones can make a room look more cramped, and they are inevitably personal which is something you want to move away from when selling. Buyers need to be able to imagine themselves living in the house at any time of the year, not just during the festive season.
3. Choose your agents carefully. Get at least three agents in so you can canvas a wide opinion on price. Do you like them and feel you can work with them? Are they just looking for an instruction? Do they have the resources? Alternatively, if your property has been listed with the same agency for a while, maybe it is time to try elsewhere. A new perspective, vision and different marketing strategy for your property could be the answer.
4. Consider trying a different selling model. Consider selling it yourself or with a company like Purple Bricks, which has had a lot of success using a different selling model. There are many others who could also potentially help you save money as long as you are happy to invest the time yourself such as showing potential buyers around. Always take your solicitor’s advice seriously and agree upfront to try to stick to a conveyancing timeline with them that is realistic.
5. Work with the agent. Once you have established which estate agent you want to work with, it is important to maintain an open line of communication with them throughout the whole process, including on the main selling points of your property and on price. Although it’s easy to think that we know our home best, a fresh pair of eyes by someone who knows the market may well help identify the best features of the house and areas that may need a small amount of improvement.
6. Work with the buyer. Being agile and flexible may mean compromising or working with the buyer’s needs and requirements when selling in the current climate, such as negotiating a different closing date which works with their situation.
7. Consider a chain breaker. If you are stuck in a housing chain where offers have fallen through or it is simply not progressing anywhere, it can be easy to become disheartened. Perhaps consider using a chain breaker if a broken link in your chain appears. A chain breaker is simply where the developer whom you are buying a new home from buys the property that is causing the broken link at a mutually agreeable price before the chain collapses altogether. This is an efficient way of seeing the deal through quickly if selling is an imminent requirement.
8. Look at Buying Schemes. Most developers offer a selection of buying schemes to help get you moving. At Kebbell our newest is Downsize Part Exchange, where we will purchase your home even if it is of a higher value than the Kebbell home that you would like to buy. Freeing you from the need to find a buyer altogether!
9. Presentation is key. Appealing to the senses really does work. Remove the dog bed and wellies, and replace them with lots of light and lovely smells. Aim for a feeling of space and airiness to help depict a carefree lifestyle.
10. Try and take the emotion out of it. It is really difficult, but try to remove the clutter, family photos, and all the things that make it your home rather than someone else’s. The aim is to make it fairly neutral in appearance so whoever is coming to see the property can imagine themselves in it. A relatively blank canvas is ideal so try to cut the emotional ties; it will also make moving easier.
11. Extend your listing. Aside from continual shifts in the market, some properties do take longer than others to sell. This doesn’t mean that your property is undesirable, perhaps it simply just needs longer to gain traction because it is out of town or has some unusual features. The right buyer will come along so remember, you only need one offer at the right price to get a sale.
12. Be honest with yourself. If your property has either been on the market for a long time or has had countless offers fall through, ask yourself honestly why this could be. Nine times out of ten the price is likely to be too high. Be realistic with your price.
13. Sell afresh. It may be more difficult to try and sell a property with an abundance of repair and decoration needs, particularly during the winter and especially during such an unpredictable time economically. A project house is obviously different, but if you think your property would benefit from a few low-maintenance updates, it may well increase interest.
14. Desirable images. This may be stating the obvious but the photos you decide to show are the first impression your buyer will get and could easily influence if they go on to visit your property, so make sure the pictures are as good as they can be. Again it is important to declutter and depersonalise some areas so that the space is well displayed, and the buyer is able to picture themselves there.
15. Remain confident. The housing market has and always will continue to fluctuate. As much as it is essential to remain in touch with its movements and adapt as the climate shifts, it is equally important that you remain confident in your property and all it could offer someone.