You can still achieve a quick sale on the open market
But you need to make sure you do everything right! Keep reading to find out more.
You’ve probably found your way here because you’re wanting a quick sale, but you can’t or don’t want to take an offer below market value. As our core offering, we operate a sell house fast service, which may not be suitable for you, but it does put us in good stead to be able to offer you advice.
If you’re looking to sell your property and achieve market value, then keep reading! You can easily navigate through the article using the table of contents below:
It’s everyone’s goal, when you want to sell your property, you want to achieve a good price for it, right? Of course, you do. How do you go about doing that though, what are the most important aspects to consider when it comes to getting a good price for your property? Here are some of the key aspects you should consider:
Staging the property to impress
It’s important that your home looks like a warm and comforting place to live, it needs to be neutral but inviting. The people who are viewing the property need to be able to picture themselves living in it, so ensure that it looks as clean and tidy as possible, and there’s no clutter around that makes the rooms look smaller than they are.
There’s a bit of an art to staging a property – so get some external opinions from family and friends if you need to!
The hardest part is making the property appeal to others, and not just yourself. Your property is exactly that, yours, and it’s likely that you’ve added features or design elements that make it unique to you – which is fine, but it might not appeal to everyone, so that’s something you need to be aware of at all times.
Consider renovating or at least decorating
This somewhat ties into our previous statement of staging the property to impress. Before selling your property it’s a good idea just to give it a little bit of a freshening up, a new lick of paint and a lease of life. You’ll be amazed how much a little TLC can go in terms of your property looking the part.
We’re not talking about putting a new kitchen in or replacing your bathroom, it’s more of the minor aspects like painting, new carpets, new light fittings, freshening up the wallpaper – all of these may seem small, but they make your home more appealing for people viewing it, and it makes a real difference, believe us!
Price your house higher than what you want to achieve
Now we’re not saying to price your house unrealistically – we’re assuming you know the market value of your property, and you have a price in mind for what you want to sell it for, so hopefully you’ve done your research on the value.
What we’re touching on more so in this section is pricing your house higher than you actually want to achieve. It’s quite rare that you will achieve offers over the amount you price your home for, so you should expect to be offered a lower amount, and therefore price your property according to this.
Choosing a great estate agent
This goes without saying, in order to sell quickly, you need the agent that is doing the selling for you to be good! You want to choose an estate agent that goes above and beyond, emailing your property out to their mailing list, posting flyers through doors, drumming up interest with people viewing their other properties, just generally going the extra mile.
Those estate agents can be tricky to find.
We recommend reading several reviews on any of the estate agents you’re considering, and also consider the word of mouth recommendations strongly, as it’s the best way of actually finding a good estate agent.
The photos need to be great!
If you want to sell your property for a good price, good photos are absolutely integral. If you’re not happy with the estate agents photos, tell them – first impressions count, and for most that is your Rightmove listing.
You’re photos really need to accentuate the fantastic features of your property, the selling point, and make sure you have every angle. Make sure you stage your property nice, with minimal clutter when the photographer is coming around.
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We’ve been through how you can get the best price for your property, but what actually affects the market value and is there anything you can do to influence the overall price of your house? We’ll go through the main factors that affect your properties market value:
The number one factor of your house price is where it is, which unfortunately is something you can’t change! You might have noticed that house prices in London are significantly higher than house prices in Leeds for instance, but why? What makes the same house more valuable in one area than another?
One of the most significant indicators is what other similar nearby properties are selling for, as you can find the actual sold house prices on sites like Rightmove.
The more relevant the recently sold houses in your area are, the closer your market value will be to them. If the properties nearby are similar and have been sold fairly recently, it’s a pretty reliable metric.
If your home is pretty unique then you can use other nearby properties that have similar placement, like if your property is close to a waterfront, golf course, or even the type of street being similar. All though that being said, it makes it much harder to determine the actual market value.
Space & Size of The Property
This should kind of go without saying, but a big factor of your properties price is its size & the amount of space it has. The larger your property is the more it is worth, but what really bumps up a property value is the amount of “liveable” space it has, like bedrooms, living rooms, bathrooms and kitchens are higher valued spaces than hallways for instance.
Upgrades & Updates
If you have the ability and space to be able to upgrade your home by adding an extension or doing major work on the property to add additional rooms or bathrooms, then this will increase your house price significantly. You will of course have to price up how much this is going to cost & whether it’s going to add that or more in return when you come to sell.
Updating aspects of your home if done right will also add value – the one that usually adds the most value is updating your kitchen, as generally, it’s the most expensive room to update, following shortly after is the Bathroom.
The Market Volatility
Your house price is dictated by the market, even if your property is in fantastic condition, amazing location and has all the bells and whistles, it still might not sell and have to be lowered in price if the buyers aren’t there.
If the market is referred to as a buyers’ market then you might have to reduce your asking price and take an offer lower than you may expect. That being said, if it’s the opposite, a sellers’ market, then you will usually see a lot of interest and your home get snapped up rather quickly, which can also see increased competition when bidding giving you a higher overall sale price.
The Bank of England interest rate can also affect the house prices, as it suddenly makes housing either more affordable or expensive, meaning it changes their affordability and can attract a different audience to the property.
Whether that is a positive or negative thing, it really depends on your property and how affordable it may be for potential buyers.
The Properties Condition
You want your property to have the impression that it’s well looked after and cared for, before selling you should make sure you give the house a fresh lick of paint and replace a few of the less expensive aspects, like perhaps your carpets. It just gives the home a fresh new look and might improve your overall property value, or put you ahead of another comparable property.
Before you press the panic button and try frantically researching for tips and tricks to sell your house quickly, has it even been that long? What we mean by that is selling a house is a big thing, and generally, when you use the open market, it can take time – even a “quick” sale.
Did you know on average on the open market it takes around 129 days to sell your property?
When you consider that, it might just be that you need to ride it out and wait, perhaps your expectations were set too high originally. If you do need a quick sale, then the open market may not be the best choice, and you might want to explore alternatives such as our sell house fast service.
We’ve taken you through how to get the best price for your property, and what actually impacts a properties potential value, how about what actually makes a property sell quickly? Here are some of the main things we think, as quick sale experts, really make your property fly off the shelf:
We’ve touched on this several times throughout the article, but when you’re selling your house you should always have it looking in tip-top condition, from the photos to the viewings. Make sure your home is clutter-free and presentable, giving yourself the best chance of selling the property.
If you can undercut a few of the nearby comparable properties then you’re going to be in for a winner in regards to a quick sale. To get a good idea of how you should price for a quick sale, you can get a few local estate agents round to come and value the property – but be sure to do some research yourself beforehand because some estate agents do overvalue your property in order to try and win your business, only to pressure you to lower the house price a few weeks later when you’re tied in.
Can you do anything to try and help your house sell? If the days are passing with little to no interest, you should always be thinking if there’s anything extra you can do. Could you refresh the photos on the listing, is there enough detail, might it be worth looking into another estate agent or having multiple agents.
There are times of the year that are better to sell your property than others. Not everyone has the luxury of being able to decide when to sell, but if you do, then you should choose between March & June.
Most of the other months are slower, due to school holidays or times like Christmas which can really slow the market to a halt.
If you really need a quick sale, then it’s likely that the open market might not present the best option for you. There might be other options that are more suited, such as ourselves, as we offer a quick sale service, that allows you to sell your house fast in 7 days and we’ll even cover all the fees & take the stress out of the process.
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The trick to making your house sell in a slow market is making it more appealing than any of the comparables.
The theme across the article is that the house needs to be presentable! Make the most of the space you have and show it off.
But to stand out, one of the main things simply is good marketing, and that comes from picking the right estate agent. Your estate agent needs to be doing more than the estate agents of the other comparable properties, enhancing your listing constantly, improving your pictures, handing out flyers, even as far as standing out from the crowd by doing a 3D walkthrough or video of the property.
Have they tried everything? Does your listing look better than the competition?
Last but not least, is your property actually valued how it should be. If you’ve done everything we’ve spoken about in this article, and still haven’t had any luck in terms of selling your property, then it might be time to look at your asking price.
When the estate agent originally came to your property and told you that you should market for a certain price, they may have overvalued your home to win your business. It’s a tactic that unfortunately happens a fair amount, so you should always make sure you get several valuations before marketing the property – as well as doing your own research and having a good idea of how much your house might be worth.
So, should you reduce, is it time? If you believe the asking price is the problem, then it might be time, don’t be pressured into it by your agent, it just makes their job easier. Before making the change you need to ask yourself if your estate agents are doing enough, are they going above and beyond to market your property.
There are quite a few considerations you should think about before reducing the price.
Have a chat with one of our property consultants today!
Want to find out how much your property is worth & sell your house fast? It's best to give us a call on:0800 024 8444
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|Your options||Average sale length||Typical cost to you|
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|Online Estate Agents||16-52 weeks||£1000(upfront)-£5000|
|Estate Agents||16-52 weeks||£5000|
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