The Key Factors To Selling Your Property For The Best Price And In The Quickest Possible Time

Properties are selling very quickly and with over?68%?of properties currently on the market locally, sold (and sold within?4 weeks), it’s clear?to see the market is moving and buyer’s appetite is strong. In fact, we have just sold a property in Hammerwich, for?￡20,000 over asking, marketed at ￡750,000 after?25 viewings in the first week!?We are in a seller’s market right now and it’s clear that if you want to sell you need to make sure you and your agent are doing everything you can to position your property in the best possible way.

(Check out the results)

https://www.rightmove.co.uk/property-for-sale/find/Barrows-and-Forrester/Lichfield.html?locationIdentifier=BRANCH%5E239408&includeSSTC=true&_includeSSTC=on

Buyers are currently securing fixed mortgages before interest rates go up (along with the hike in living costs) before their affordability drops and what they can afford to buy (and offer) goes down.

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So, without further ado, here is some research backed information about the best way to sell your property and how to achieve the maximum price:

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Marketing?

Marketing is key to selling your property. Marketing is how your property is being presented and perceived by potential buyers and how/where they are going to see your property. These are the top marketing tips backed by years of research:

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1. Photos?– Professional photography! The first thing people see is your photos. If they are dull, badly lit (or taken on an iPhone) it is not going to do your property any justice. You want to make sure that the photos show your property in the best possible light. Good angles, well-lit and edited photos make your property pop and are enticing for people to want to view more.

Talking about wanting to view more you don’t want to have too many photos! Research shows that?12 – 18?photos is the optimum number of photos for a property (depending on size). You want just enough photos to entice people to want to book a viewing but not too many that they feel they have already seen the property.

Another thing to bear in mind when your photos are being taken is to make sure the property is clean and clear of clutter. If your photos have unmade beds, dishes on the worktops and toys scattered everywhere, people will believe the property has not been cared for and this can be off putting straight away.

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1. Floor Plans?- A floor plan is crucial! Did you know that 60%?of buyers head straight to the floor plan and if there isn’t one, they will disregard the property completely? Floor plans help potential buyers understand the flow of the property and if it is going to work for them. It also gives them the chance to look at the scope for knocking down walls, extending and converting rooms.

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1. Property Description?– Buyers can see what is in your property and if a description is just a list of what they property has e.g.: double glazed windows, tv point, downlights etc (boring right?) then it’s not going to sell the property to them.

The information people really want to know is what school catchment is the property in? How long is it going to take me to get to places and how can they get there? What is around the property in terms of shops and amenities? What things are there to do locally? People are not just buying a property they are buying a lifestyle that comes with the property and this lifestyle needs to be sold to them. If your property is in catchment for the best school in the area and it’s only going to take them 10 minutes to get to work, then you need to sell this to them.

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1. Video Tours?- One of today’s most important features when marketing a property is a video tour (and we don’t mean a slide show of your photos that they have already seen, there is really no benefit to that whatsoever). A good video engages with buyers and lets them get a feel for what it is like to really live in the property. A good video tour sparks emotions and causes excitement, showcasing your property better than any photo can. These videos can also be used cleverly to share across social media (something we will get in to in the next section).?

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1. Social Media?– Social media can help boost the interest in your property by 70% so it’s vital that this is being used to your properties advantage instead of just sticking it on the property portals and waiting for the phone to ring. This may not surprise you, but the average person spends 2.5 hours a day on social media. That’s a very big chunk of the day!

Therefore, if you take advantage of using the algorithms to get your property seen by the right people you could generate more interest this way than you would via some of the lesser used dedicated property portals themselves.?

Price and Competition

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This can be one of, if not THE main factor as to why a property doesn’t sell. Getting the pricing right is crucial. Of course, you want to maximise what you get from the property, but you must be clever with how you do this. If you go on too high and you have to start reducing your property, then it does not bode well. This puts psychological doubt in a buyer’s mind. Why is the price being reduced? Why is nobody interested in the property? Why is it not selling? These are all thoughts that go through a buyer’s mind when they see a reduced property. This puts negativity on your property and there is an age old saying

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“Nobody wants the house that nobody wants”.

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So how should you price your property?

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1. Pricing points?– Property portals work off pricing points. These work in increments of ￡10,000, ￡25,000, ￡50,000 & ￡100,000 depending on what the price is. It is vital that you use these to your advantage.

An example is if we used a property that is priced at ￡245,000 or ￡249,995. The pricing points here are ￡240,000 or ￡250,000, there is no in-between. If a buyer’s maximum price was ￡240,000 and they were to look up to ￡240,000 they would not see the property. But if a buyer’s minimum price was ￡250,000 and they were to look from this pricing point the property would again not be seen. Use these pricing points to make sure you get the most eyes possible on your property, so it is not getting lost between pricing points.

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1. Competition?– Another thing to do is factor in your competition. If similar properties around you are at a certain price (within ￡10,000 or so) then you need to be careful that you aren’t pricing your property too high above the current market. People will not look at your property (no matter how much better it is) if you are vastly different in price than those around you. Again, use your competition to your advantage. Position yourself where people will want to view your property. The most important thing to achieve the price you want is viewings and if people are not coming through the door because you are out of line with your competition, then you are not going to get the interest or offers you want. If your property really is better, then buyers will see the value and the offers put forward will reflect this.

It’s always good to?remember, you have no obligation to accept an offer that is lower than you are looking for, but you need to be putting your property in the best position to generate offers in the first place.

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1. Viewings?– Now this isn’t so much to do with the price of the property or your competition, but it is something that is often overlooked. When conducting viewings, it is best to create competition and urgency. Try and do all your viewings in one go on the same day. Give viewers a 15/20minute window before the next one shows up. This shows buyers that there is a lot of interest in your property and creates FOMO (fear of missing out). This makes buyers realise that if they want the property then they need to act quickly and they can’t play around with low offers. They must put solid and strong offers forward and this is what causes your property to get ￡10,000 - ￡20,000 over asking price. Sporadic viewings create no urgency or competitiveness so try and stay away from doing them this way where possible.

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Did you know that over?57%?of properties are also sold with the second?agent? There are numerous reasons for this, but most are simply because the first agent has not adhered to the above. These are not our personal opinions but are proven techniques that are backed by country wide research. These are the techniques which have led us to great success and winning multiple awards year on year.?

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With personally over 4 years in the industry, I can assure you these trialled and tested techniques work!

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If you would like to discuss this further or are wondering just how we can do this for you then please feel free to give me a call at your earliest convenience and I will be more than happy to go through these with you.

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Remember, Einstein once said,?“Insanity is doing the same thing over and over and expecting different results”?and the same goes for the way you try and sell your home.

Kind Regards

Liam Francis

Sales Executive

[email protected]