The Psycholgy of Selling…

Recently there have been alot of articles in various national publications about the art of selling houses and the techniques that allow the seller to  “get inside” the head of a prospective buyer.  In such straightened times, any factor that can possibly affect the decision-making process and secure the sale of your property is worthy of consideration.

  • look to propose a “fee ladder” with your agent.  This works to the advantage of both the agent and the house owner: the higher the price that the agent secures for the sale of your house, the greater the commission that he/she earns.
  •  I strongly advise vendors to put a guide price on their property.  In doing this, the lower figure of the guide price means that your house will feature in a lower search engine capacity. i.e. if you put a guide price of £95,000 to £110,000 on your property, it will feature in any search whereby a prospective buyer inputs any figure from £95,000 into their search engine on any of the national property websites.  This therefore exposes your property to a far wider audience than you would attract if it was a sole fixed price.
  • Like any good card player, always keep a little bit up your sleeve.  By this I mean have some further incentives to add to the attraction of buying your property.  This could be offering to pay a proportion or all of their stamp duty or perhaps offering to pay for professional cleaners or a gardener prior to their moving in, or indeed for a period of time after they have moved in.  Remember, if they have moved in, this means that they have bought your property and more importantly, paid you!  The cost of the gardener or cleaner will be negligible compared to what you may save by actually getting an offer and selling your property.

You get what you pay for

Everybody loves a bargain and everybody loves a cliché –no more so than anyone involved in the business of estate agency – but they are clichés for a reason: the truth contained in the well-used phrase.  The business of selling houses is very competitive, particularly in such tough economic times; and everyone wants value for money.  Value for money is exactly that, value, i.e. a professional and committed service for the money that you are outlaying.  You as the vendor want someone to work hard and earn their money in selling your house.  Do you honestly believe that someone who is offering a substantially lower fee than any other agent in the area (who are not overly priced to begin with) is going to work as hard?  With money a factor in everyone’s lives, anything considerably cheaper than its market rivals is very attractive, but is it value?  It is in the interest of both vendor and agent to get the best possible price for a property and it is up to the agent to work as hard as possible to achieve the best possible sales price.  A flat, low priced fee does not encourage an agent to do this; thereby leaving the vendor short-changed.

An agent is there to sell your house at the best possible price that he or she can achieve. Don’t confuse this with getting as many listings as possible and therefore more boards for people to see as they drive past.  Lots of ‘for sale’ boards does not mean that you, the individual vendor will be able to put up a ‘sold’ board outside your home.

10 Years ago…

Figures recently published by HM Land Rgistry have compared the property market of today with that of 10 years ago.  Whilst there are regional variations, the Welsh dynamic is one of the greatest change.  Surprisingly, there are now 65% less properties being sold.  In simple terms, there are 65% less properties coming on to the market.  Whilst the initial reaction is one of “Oh, that’s a disaster!”, when you actually digest the figures, this is what it actually means: property prices will not crash in South Wales, because there is a shortage of properties coming onto the market.  It is still the case that well-presented, sensibly priced (for the location) properies are selling.

What could be regarded as a disaster for some, is that the large, high-street estate agent whose costs are continuing to rise, are faced with a smaller amount of transactions, therefore they have to double the level of business just to stand still.  Thus increasing the ‘pile ’em high, sell ’em cheap’ attitude.

It is now more important than ever to choose a professional, independent estate agent, who is working for the benefit of their clients.

New house or and old house?

When you embark on your venture to buy a home one of the most common decisions to make is whether to buy brand new or purchase an exisiting home.  Each choice has its advantages and there is no single answer that works for everyone.

Here are some of the things that you may wish to consider as you decide which route to take:

Pros for older houses:

1. Many people are drawn to developed neighbourhoods for the sense of comminity already established.

2. Many people enjoy home improvement so an existing property may have small projects waiting to be done.

3.  Existing homes are often found in older, more convenient areas rather than out of town.  In many cases, an older home offers the opportunity to expand and build a unique property.

Pros for new houses:

1.  Everything is brand new and you don’t have to do a thing; hence the phrase “turn-key”.

2.  Developers are currently offering a range of incentives to attract buyers.  So as well as your new home, you may negotiate new carpets, blinds, turfed lawns and other sundries.

3.  The biggest one of all is that developers are currently offering a range of part-exchange deals that will take all the hassle and aggravation away from you.

To decide what really is best for you and how to approach developers, contact your local, professional, independent estate agent.