There is no denying that today’s property market is incredibly difficult to navigate. It is hard to know what is right to do and what isn’t. So, with that being said, read on to discover some useful tips to assist you.
Innovative ways to sell in a competitive market
Here are a few tips on ways to improve the marketing of your property, in order to squeeze a little more mileage out of what you have to offer.
Could you get some free PR to help market your property? Is it in any way out of the ordinary, does it have an interesting history or have you fought a long battle to get where you are today? In the cutthroat world of media these days, journalists are always looking for a ready-made story to slot into their papers’ pages, so if you have a good story to tell, why not try this approach?
If yours is a family home, make sure outdoor play equipment is available for the children of any house hunters who come to view your property (having ensured of course that it is safe to use). This firstly gets the kids out of their adults’ hair, leaving them free to view the property in peace. But secondly, it also helps create a bond between you and the property viewer – you understand where they are coming from.
Use signage in your home to point out things buyers may like to know. Mark up the major appliances. Note any attractive features that make life easier, such as remote switches for garage doors, drop-down loft ladders, and underfloor heating, for example.
It’s all about making your property stand out from the crowd.
Inspire confidence in buyers
Buying a house is a nerve-wracking business. It’s a huge financial commitment with a mortgage they will be attending to for many years to come. It’s your job to inspire confidence in them that by buying your property, they are making a sound investment in the future.
A little bit of organisation and honesty on your part can help instill confidence. Be upfront about any major problems with the property if you have been unable to address them before putting the house on the market – tell them if there are any issues that may need to be addressed in the near future, for example, the condition of the roof, and be prepared to be reasonable on price.
Have all of your paperwork to hand. Back up recent remedial or renovation work with evidence of the appropriate planning permissions, safety certificates, and guarantees.
Instruct your solicitor beforehand, so they are ready to make a move quickly when an offer is made. Have your personal details such as proof of identity, utility and council tax bills ready to go – delays in things such as this can induce doubt in the buyer’s mind.
There’s plenty of downtime when you’re selling your home – use it wisely to make things run smoothly in future.
Being upfront is refreshing in today’s market
Sometimes, a straightforward, open approach can succeed where other methods have failed. Honesty and frankness can be refreshing in a world that’s traditionally portrayed in jokes and popular culture as being somewhat dubious! Try these three tips to set you apart from the competition:
Does your sales board outside your property state the asking price? Something as obvious as this can help drive up interest by demonstrating to people that a house they may think is out of their range is, in fact, affordable.
Be frank with potential buyers when they come to view your house. There is no mileage in hiding serious problems – these are bound to be uncovered during a future home inspection and can, in fact, cost you more in the long run if the buyer then drops out.
Calculate the price per square foot of your property. This is relatively easy to do if you have a floor plan drawn up of your home. It may cost you a little more, but it can enable you to draw comparison tables with neighbouring properties for sale and demonstrate why your home is great value for money compared to the competition.
If all else fails, increase your asking price!
Yes, seriously. It may sound laughable, but even adding a few pounds to your house price can change the way it is viewed in more ways than one.
You may have priced your home too low to begin with, in an effort to gain a quick sale. But changes to the area in which you live, such as a recently announced regeneration project or an upcoming major sporting tournament in the area, may add value to your property in the short or long term. If others in the area have increased the value of their home and you have not, buyers may ironically doubt the value of yours!
Traditionally, prices in shops are marketed ending in 99p – £11.99 for example. This gives the impression that items cost less than they actually do. It’s largely an emotional response – that we feel we are getting a bargain because it’s ‘under £12’. In terms of property, though, this doesn’t really have the same effect. By quoting an asking price ending in 999, you run the risk of missing out on house-buyers who search online in rounded figures – £500,000 rather than £499,000, for example. Adjust your house price accordingly and your property will appear in as many searches as possible.
Of course, if you want to raise your prices considerably, you need to have a good reason for doing so. Why not add carports or upgrade your kitchen? Why not have double-glazing installed or convert your loft? Whatever you do, make sure it actually adds value!
Ask your estate agent about the advisability of adding to the asking price of your property.