Property Showcase
Before marketing a property, most people feel a little nervous. It is a huge decision to take.
We are often told that the biggest concerns are ‘Will I get any viewings?’ ‘Will anyone want to buy our home?’ ‘What if the sale falls through?’
These are all very valid concerns and it can put your life plans on hold.
Imagine the scenario then when a couple have decided to market their property and have the photographs done, to then be sat waiting for the phone to ring. It didn’t. They were frustrated, worried and deflated. They had looked at properties that they had wanted to buy, only for them to have sold and they missed out. They stopped viewing properties and began to feel that they would be in this house forever.
At a point of desperation, they called us. I visited the property and had a long and informal chat. They told me how they felt and what had happened so far in the marketing of their home. We put together a plan.
Firstly, I asked them to remove the property from the market. Give it a break so that people stop seeing it advertised everywhere. This also encourages people that may have been watching the property to come forward and show their interest.
Secondly, we addressed the price. In their desperation the sellers had reduced the price down from £320,000 to £310,000. This is not the best way for the property to be marketed. At this figure it shows to the public that they are looking to achieve a sale at around £300,000 (this was not the case, they actually needed more than this to be able to move). Also, the majority of property searches are now done online, probably using Rightmove. Rightmove, and other portals, use a price banding option when conducting a search. At this price the options are £300,000 or £325,000. At £310,000 they were, in the sellers words, ‘neither owt nor sumat!’ So, we put the price up to £325,000. That way the searches looking to that price as a maximum would see the property, but also, those searches that start at £325,000 would see it as well, opening the property up to lots more buyers.
Finally, we kept the property off the market throughout August, advertising on 6th September, in line with the school term starting back up. Where completions are often high in August, sales agreed are usually low. Most people are taking holidays with their families, or simply trying to manage childcare and kids clubs whilst school is out. Buying a property is usually way down on the list, until ‘normal’ family life resumes and the search can begin again.
We attended a photoshoot at the property, staging each room thoroughly to ensure the photography was showing the property off in the best way, and produced a brochure.
The marketing began at the start of September and the sellers were over whelmed by the response. They had lots of viewings very quickly, indeed some people returned twice.
A sale was finally agreed on 1st October 2018. A total of 25 days on the market with the agreed sale price was more than the sellers had originally hoped for!
The sellers of this property have now secured the home of their dreams!