Being an estate agent in the current housing market is difficult – home ownership is down, and mortgage rates are up, while the economy as a whole is showing no signs of immediate recovery. In this context, what are some of the best approaches to take when trying to sell property? As well as traditional areas like knowing your local market and having a clear schedule for selling, there’s also a need to be realistic about valuations, and to encourage sellers to make changes to boost this value; doing so can help to increase your chances of selling a home.
Know Your Local Market
It’s always important to know your local market in as much detail as you can; keep up with Land Registry prices, and check to see what houses are being sold, and at what cost.
Check for new builds, and see whether there have been any particular areas or tactics that are working well in clearing properties.
Have a Schedule
When selling, you want to be as organised as possible; keep a schedule for sellers that breaks down valuations, and the time taken to get paperwork together and deal with different viewings. Poor organisation will quickly frustrate clients, as will not replying promptly to emails and phone messages.
In the current market, you won’t always be able to meet a valuation price – be willing, then, to negotiate and work with a seller to get a reasonable price. Similarly, make clients aware of what’s possible, and don’t take on viewings without properly informing buyers about what they can expect from a property.
Encourage Sellers to Make Changes
There may be a case where sellers aren’t doing themselves any favours with their decoration – this may be as the result of homes not being properly decluttered before viewings, or due to a property being too full of personal items to allow buyers to see it clearly. Be careful, but discuss with sellers how they can make the most of their property’s potential value.
It’s crucial to make the most of your online marketing. Take quality photographs, and try to upload as much detail as possible about a property; moreover, if you are going to rely on marketing online, make sure that you check your email address regularly, and update adverts when new details become available.
Be Clear with Buyers
Don’t waste time with lots of viewings where the buyer is too vague, or only seems to want to get a sense of a property without being a serious buyer. Discuss with a buyer what they’re looking for, and give them as much information as you can over the phone or online – whether you can afford to make a lot of viewings will depend on how many properties you’re responsible for at any one time.
Focus on Details
There’s a lot to be said for focusing on details when you’re trying to sell a property. Knowing about a property’s potential for extensions, and the local laws for that area, will make it easier to pitch a home to a new buyer; similarly, it’s worth being able to answer detailed questions about the age and condition of a property when asked.