Getting the BEST price for your property
April 12th, 2023
One of the most important things when you sell your home is to get the best price possible for your home. But how do you make sure you get the best price?
There are 4 contributing factors to getting the best price for your home. The one thing to remember in all this, is that it’s the buyer who is going to give you the best price – the agent, presentation and the marketing will contribute to that, but it is the buyer that will pay it. Getting a buyer to pay more than they want too, needs competition. So, to get more buyers, the first thing you need is eyeballs:
More Eyeballs = more clicks = more enquiries = more viewings = competition = more offers = the highest price.
Property Condition
To maximise the price for your house it needs to be in immaculate condition – I’m talking new kitchens, new bathrooms, new carpets – a show home basically…But ‘immaculate condition’ is not usually possible, so don’t panic…
If you haven’t got the time or money to make your property ‘immaculate’ with new kitchens, bathrooms, carpets and everything else, then make sure it is presentable, clean & tidy when people view.
Get rid of the kids & dog, but present it as it should be presented. Don’t hide all the toys when you are selling a 4 bed detached family home – that is what creates emotion from the buyer. And when a buyer becomes emotionally attached to your property and can see themselves living there, they will pay what it takes to realise their visualisation!
Portals & Online Presentation
Make sure your property is on Rightmove AND Zoopla. Zoopla have claimed in the past that 32% of their buyers don’t visit Rightmove, so by listing your house with an agent that only advertises on one of these sites, you are losing eyeballs.
The basic premise of selling your house nowadays (and before the internet came along), was the more eyeballs you got on the property, the more viewers you would get and the more competition you would create, which would force the price up.
It hasn’t changed much since the internet, because the more eyeballs you get, the more clicks your advert will get and the more viewers your agent will be able to arrange, which will lead to more competition.
And don’t forget social media. Social media is a bit like the newspaper back in the ‘good old days’ where someone who isn’t actively looking to buy a property spots yours on Facebook or wherever and that entices them to enquire – impulse buyers!
Choose the right agent
Make sure you choose an agent who has an incentive to sell your property. But don’t choose someone who is ‘desperate’ to sell your property.
An agent who is giving their own fees away is clearly not the best negotiator, so would you trust them with negotiating the best price on your house? And be careful about when the fee is paid – if they are charging you all up front, or regardless of sale (which some of the agents who advertise on the telly do), then they have absolutely no incentive to sell your house, which sort of defeats the object of trying to sell your house and move!
Choose the right marketing strategy
This is so important and is part of choosing the right estate agent, but the marketing strategy is different for every property. For example, don’t choose an agent that tells you the highest asking price – this could actually lead you to achieving less than had you asked a ‘medium’ asking price because of the length of time the property could end up sitting on the market for.
Similarly, don’t use open days if they’re not appropriate. Use a strategy that’s going to help you achieve the absolute best price – that might be an informal tender, it might be a lower asking price because there could be lots of competition in your area, it might just be selling in the ‘usual’ way. A good estate agent should come up with an entire plan for you and your property, which suits your circumstances.
Getting the best price for your home is ultimately a good mix of all of the above points, but it does all come down to the estate agent that you choose – where they advertise, what advice they give you and how good they are at negotiating!
To find out more, contact Nikki Davies, Powered by eXp.
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