In a buyers’ market, when properties can take a little longer to sell, there is often a tiny voice in many owners’ heads whispering, ‘Drop the price!’
Some people listen to the voice, drop the price, and maybe drop it again. But many of them, in our experience, are being too hasty.
There is plenty that could, and should, be done to achieve the asking price. A property in central London is a prized asset: it needs a special strategy to succeed.
So how can you sell your home quicker without dropping the price? Here are our top tips.
Secret 1: keep the house in mint condition while it is on the market
This is just common sense. If you want to sell a property quickly, you need to ‘dress’ it like a stage set – and keep it dressed. The properties that are often the slowest to sell are the ones where the owners have stopped presenting them at their best.
Secret 2: is the price realistic?
Make sure your initial asking price is realistic. A good estate agent will recommend a realistic price from the outset. But do some research and put your home on the market at a price that fairly reflects its current market value. If you inflate the asking price, just on the off-chance that you might find a willing buyer, you are likely to be disappointed down the line. Generate as much interest from the start to increase viewings and offers.
Secret 3: be flexible
If you are keen to secure the asking price, be prepared to complete the sale quickly. If that is what the buyer wants, or follow a longer timetable, if necessary.
Secret 4: selling strategy
Treat home selling like a project. Plan before you put your property on the market. Walk through your house and think like a buyer. What can you change? What can you improve? And what are your first impressions? Then prepare your home to sell. A keen attention to detail will help your home standout.
Secret 5: choose the right solicitor
Make sure your solicitor is on top of all the relevant paperwork and can move quickly, if necessary. Nothing impresses buyers more than owners who have the best possible professional back-up team.
Secret 6: appoint an agent who knows the local market
Choose an agent who specialises in the local area, whether Marylebone, Hyde Park or King’s Cross. Ask for regular updates on progress, and where possible, improve the property after constructive feedback. At Kay & Co, we have an unrivalled knowledge of our local patch and a large client base of possible buyers.
Secret 7: start afresh with new photographs
Often it is the images of homes on our website, property portals, or social media that encourage buyers to make an enquiry. New pictures showing a property in a different, sunnier season can work wonders if the property has been on the market for a while.
Secret 8: consider holding an open house
Depending on the property, an open house day or half day can be a useful tool to showcase a home. It may get multiple viewers through the door in a short time-frame and, hopefully, attracting rival bids.
Set about selling in the right way, avoid any obvious mistakes and the right buyer will find your home.
• Contact Kay & Co estate agents for details of properties for sale or to rent in Marylebone, Bayswater, King’s Cross, Paddington, Notting Hill, Mayfair, Hyde Park, Fitzrovia, Regents Park, Paddington and The West End (020 7262 2030; Kay & Co).