Selling Your London Property? Insider tips
10th September 2020
Articles
Thinking Of Selling? Here’s 7 Insider Tips To Ensure You Get The Best Price.
1. Never Appear Desperate.
Never appear desperate to either your estate agent or those expressing interest and making offers. Even if not strictly true, make out you are in no rush, have other interest on the table and that you’ve all the time in the world to get the price you need. Essentially, play hard to get.
2. Always Reject A Buyer’s 1st Offer.
Unless the buyer is offering the full asking price or over, always reject the initial offer.
In my experience, a buyer’s first offer is never their last and a skilled agent should be capable of teasing out more following an initial offer. Always reject this offer quickly as you don’t want the buyer to think you’re mulling it over. A quick ‘no’ sends the right message to the buyer they need to ‘sharpen their pencil.'
3. Keep Your Cards Close To Your Chest.
Some buyers and even some cheeky agents will ask what your bottom line is. Never reveal.
When I’m asked what price an owner will accept, I always reply ‘the full asking price’. It’s up to the buyer to place an offer on the table, not the other way round. Play it cool otherwise you’re on the back foot.
4. Feedback, Particulary On Presentation.
Listen to what viewers are saying and make some adjustments to the presentation if required. If you’ve had plenty of viewings but little to no feedback from your agent, I’d suggest you need a new agent.
Try to keep the small bedroom as clutter free as possible to make it appear as large as possible, ensure the hallway clear of shoes and bags and keep kitchen surfaces clear. I know, easier said than done.
5. Pricing.
Some agents operate by overvaluing to entice you onto their books only to suggest a price reduction when the ink on the contract has barely dried. Take a look at the local competition – other homes on the market similar to yours. Compare and contrast to yours to ensure your asking price is spot on to attract interest and activity from day one.
6. Don't Give The Buyer A Reason To Chip The Price.
Buyers are often looking for ways to tweak the agreed price if a survey reveals some niggles. So, if a few cracks need attention, some roof tiles have slipped or the wiring could do with a new consumer unit, make the investment and get these jobs done. Buyer’s estimates on the cost of these repairs is often inflated verus the true cost and surveys usually pick them up.
7. Detective Work.
Ensure your agent does ‘belt and braces ‘due dilligience on your buyer.
Have they definately seen their mortgage offer and proof of deposit? Have they checked in with the agent selling your buyer’s property to ensure their sale is running as smoothly as suggested?
Whilst doing detective work at the beginning doesn’t provide a cast iron guarantee a sale will progress without hiccup, it does provide some degree of peace of mind.
Good luck!
