Now is a great time to sell your property, but be wary of overcharging and putting off prospective buyers.
While it is the ideal time to sell properties because of high demand from buyers and the lack of existing stocks, property will not sell for more than its appropriate worth.
As the housing market turn out to be more buoyant, there is a risk of sellers being overexcited. The sellers’ confidence over property values could lead to overpricing which may eventually put off potential buyers.
A smart seller should always put their property on the market with the accurate price in order to sell quickly.
Here are some tips we’ve listed to help you sell your property:
• Don’t automatically accept an estate agent’s valuation without entirely understanding why they consider the property will realise that price.
• Explore the local market and check prices of similar properties online, as well as what comparable properties are sold for on the Land Registry website.
• Don’t make an impression that there is something wrong with the property by considerably reducing the price or keeping the property listed on the market for too long.
• Don’t go for the highest price recommended by an estate agent. The agent might use the amount to secure your business, but when the property doesn’t sell they would advise dropping the price.
• Don’t over promote your property. If it is a modest home, don’t pretend it is a prime property. Always remember to be realistic.
• Offer the estate agent an extra fee for selling the property beyond the guide price.
• Have a strong selling strategy: choose the lowest price you will take, but don’t reveal it to your agent.
• Make sure your property is valued competitively. Don’t let your property turn out to be a lever for the estate agent to use in order to sell other properties in their portfolio.
• Set the price lower than you want with the goal of getting opposing buyers to boost it up.
• Get everything primed and ready; the paperwork, the solicitor, and the mortgage if you are thinking buying another property. You don’t want to lose a worthy buyer, once you’ve seized them.