A report recently showed that houses in the UK are on the market for around one month extra before they are sold compared to just four years ago. This statistic could be taken both ways, sellers are confident of getting a higher price or buyers are now slower to react and perhaps more willing to wait. However, how do you get the best price for your property?
Simple repairs and redecorating
While the vast majority of us have no time for DIY, let’s be honest, there are an array of simple repairs and improvements we could all do prior to the sale of a property. A simple coat of paint, tidying the garden and even cleaning out the guttering can have a material impact as someone approaches your property for the first time. As they say, you do not get a second chance to make a first impression!
For those who have absolutely no DIY skills there is the option of bringing in skilled outside parties because in many situations this will pay for itself when the property is eventually sold.
Reasonable asking price
There is absolutely nothing wrong in looking to get the best price you can for your property but you need to appreciate local and national property trends and the performance of the economy. In many ways economic cycles seem to be getting shorter and shorter and it can be difficult to predict with any great confidence how property markets will perform next month let alone next year. So, in order to attract the greatest attention and give yourself the best chance of a relatively quick sale you need to set a reasonable asking price.
The recent report which showed the average property is now on the market for an additional month compared to 4 years ago is interesting. If a property has been on sale for a prolonged period of time would this concern you? There may be absolutely nothing wrong with the property but it does begin to put doubt in the minds of potential buyers – why has nobody offered the asking price?
Online and off-line promotion
There are more than enough opportunities to promote your property online and off-line whether you go through an estate agent or take matters into your own hands. The bottom line is that you need people to visit your property in order to give yourself a chance to showcase what you have to offer and discuss possible deals. You might have the best property in the world, at the most reasonable price, but if nobody knows it is for sale, how do you stand a chance of getting the best price?
If you do decide to take the promotion of your property into your own hands you do need to be careful in relation to reports required and legal documentation. In many ways it is more comforting to employ the skills of an estate agent and the fact the market is so competitive today means that you have every chance of negotiating a good rate for their services.
Conclusion
Asking the right price, making your property look attractive to potential buyers and making sure as many people as possible know your property is for sale goes without saying. In many ways it is the little things which make a difference, such as a coat of paint, tidy garden and some simple redecorating. Do not underestimate the fact that you do not get a second chance to make a first impression.