George Berry, Residential Area Manager, asks whether you really want to sell your home or you know that you need to.
Want to sell or need to sell?
Do you want to sell your property, or do you need to sell your property? This is often a question where the answer becomes a blurred line and that blur is denial.
Take downsizing for example. There comes a time when everyone questions whether they want to downsize, whether it’s the mortgage, garden size or simply maintenance responsibilities. Then there are those that have their hand forced due to financial constraints, ill health or perhaps the death of a partner.
Very often, those in the ‘want’ camp actually need to make the move but don’t want to admit it, hence the denial and they find it far easier to procrastinate. I value many properties where owners say they are considering a downsize and a few years later they are still there only to be told we should have moved when you came previously. There is a fine line between choosing to move and it choosing us – and often seeing that line is very difficult.
Listen to the market
Once we decide that we need to sell rather than simply want to, what are the key priorities to focus on? The first and most important, is listen to the market and viewing feedback. A house is ultimately only worth what someone is prepared to pay. Remember if you have to take a lower price because of market conditions, the chances are high that the one you want to buy will also be lower.
I had a conversation with a vendor recently who had a very nice house on the market for nine months. They hadn’t reduced their price and the house remained unsold. Put simply, the market doesn’t deem it to be worth the current price and if they need to move the price needs to be adjusted. I gave this feedback which they accepted and appreciated the honesty but then decided not to reduce the price after all. That is not listening to the market and if you need to sell then you are really damaging your chances.
Another client told me recently they cannot afford to drop the price because they need a certain figure to move. However, during the considerable amount of time the property has remained unsold on the market, the vendor has been haemorrhaging money in bills. This mindset of clinging on to a price that isn’t achievable is very dangerous and could create an even bigger financial problem.
Take viewer feedback seriously
Listening to viewing feedback is the next most important thing if needing to sell. If a property is getting viewings but there are some negative comments, it is crucial to take them on board and try to rectify the issues. I have had clients ask me not to give them any negative feedback. However, some of these clients have been bordering on desperate to sell and the buyers are the ones you need to win over. If you want or need to sell, you need to look at your home dispassionately and remove rose coloured glasses.
Some of the key pointers include pets. Ensure there is no smell. As owners we often get ‘nose blind’ but buyers will notice it immediately. Ask a friend for their opinion and ask them to be honest. If they can smell it, sort it.
If you want the best price, make the house feel as large as possible. That means clearing the clutter. Most people cannot see through it and the space needs to sing to a buyer or they will become distracted by you and your life and not imagine themselves in the space.
Finally, ensure the garden is loved and tidy. Buyers need to see you care and can cope with the space, otherwise they will question if they can. I am always happy to offer advice to anyone if you simply want to ask.
This article was first published in the Diss Express.
