Standing out in a buyers market can be a challenge when there is so much competition to be had. Are you thinking about selling your house in the North East?
If so, we’ve come up with some great ways to help your home to stand out from the rest. No matter what the market is like, with the right strategies in place, you will be able to sell quickly and for the price you want.
Offer Incentives
You need to offer things your competitors aren’t. You can offer to cover the legal costs up front, for example. You can also include furniture, or fixtures, or even some recreational toys… we have even seen someone throw in a boat! Keep in mind, you will want to give something that makes sense. Something the buyer will love, that won’t end up being a burden. Think outside the box. People will buy a car because of a free hotel stay. (yes, really!) Adding something creative will entice buyers, get attention and if nothing else, make your listing memorable!
Pay for Repairs
If a buyer wants to negotiate repairs, stop them right there. Make the grand gesture of paying for all repairs right there on the spot. This is sure to win over your buyer and help them to alleviate any concern they had about buying the property. Alternatively, you might want to plan for this going in and price your home accordingly. To be honest, we would probably recommend the latter as it will save a whole load of stress. Especially in the North East, where property prices are low compared to the high price of repairs.
The Price is Right
Every time you alter the price, the change is recorded online. People can easily see the price history, and the changes they see give subtle, subconscious messages about the house and the situation. Dropping the price a few grand every couple weeks can make you look desperate or like there is something wrong with the house. You might appear as if you don’t know the actual value of the house and are just fishing for someone to come along and buy. This will shoo away many buyers, or make them think they can get a bargain out of you. This is why it is so important to get the price right in the first place, and why you must be wary of agents who say they can get way more for your property than others are saying. Remember, in the UK with commissions already being very low, the only thing agents have to compete on is the selling price, however, they don’t actually control that. This is also why sometimes, it not actually better to “try listing it for a bit more initially to see what interest we get”.
Use the Right Agent
Don’t choose the agent with the loudest voice or the best website. Don’t fall for the salesman showmanship so many agents employ. Instead, work with the agent who immediately provides you with stats, market reports and who will crunch numbers with you until you reach your goals. The agent who tries to “wow” you with the highest price, will likely be compensating for their lack of knowledge. In our experience, the thing that actually makes the biggest difference in a sale is high-quality photos. So our recommendation is took look for an agent who offers top photography.
Curb Appeal
First impressions matter. Studies show that people decide if they will ultimately make an offer within the first few seconds of seeing a home. A bad first impression will stick with them as they view the house, and will likely not lead to an offer. However, with a little raking, weeding, and planting, your curb appeal can change over night. You don’t have to spend a fortune. Simply clean up any clutter and pull the weeds. Cut back anything that has become over grown, and plant a few flowers to add a pop of colour. Having a welcoming front garden will immediately make people feel like they are at home.
Now is Not The Time To Go Cheap
There is a lot of competition. If you are serious about selling, spend the money getting good photographs and having a professional stager come in. Bad photos will encourage people to pass by your listing, without giving it a second thought. Pictures say a thousand words and you will want to work with a professional photographer who can highlight your home in the best way possible.