What To Expect When Preparing To Sell Your London Home In The Current Market
A 4 minute discussion about what to consider when you're ready to sell up.
We all have hopes and dreams when it comes to selling our homes, and with the sellers’ market, where properties are selling quickly and with prices still high, there is no better time to place your house on the market. Yet your aspirations for your sale could be a little over-optimistic and this may cause an uncomfortable realisation of what the reality is. At Shaws Kensington we want to make sure that you don’t have your head in the clouds so together we can get your London home sold as swiftly as possible.
1. My house will be sold in days
Although we are still in the midst of a sellers’ market, there are an increasing number of homes coming up for sale. Last year there was certainly a shortage of properties, which saw buyers losing out and prices rising; this year things are a little calmer, but there is now more competition. There may be a similar property in a better location, one that is in a far better condition, and, therefore, you have to make sure all the factors that are essential for a quick sale are in place. Yes, we are still seeing homes in London receiving offers in days, but it is about making sure you get the right offer from the right buyer because that will make sure that your home isn’t just SSTC for months on end. The right agent will make sure that you complete as quickly as possible.
2. I know what my home is worth
Oh, now don’t fall into this trap! Yes, just because it is a sellers’ market and valuations could be higher than previous years doesn’t mean that you can go wild when it comes to pricing your home. We know you will have done your homework, looked at similar properties that are on the market, and even those that have sold locally over the last year or so, but a word of caution: things are always changing. Property valuations fluctuate as the market demands, areas can start to rise in popularity and others see a little fall, which is why you have to listen to what the experts have to say.
Going with your own expectations could see you pricing your home out of the market, and this could see your home disregarded by buyers and left without any offers, resulting in your finally having to reduce your price. Sadly, when this happens the damage is already done, as buyers will wonder why it has been reduced, what is wrong with it, or what has put other buyers off. Don’t put yourself and your home through this unnecessary stress.
3. No need to make any repairs
Buyers are going to make any property they buy their own, so there is no need to do any repairs or decoration work, plus it’s putting more money into a property that you’re not going to live in. Buyers can see past all of my clutter and disorganised life; they are buying the bones, not my things – right?
WRONG
Unless your house is a complete renovation project and priced accordingly, buyers don’t want to be met by a home that has a list of repairs. Even failing to touch up the décor, or rooms in disarray can see potential buyers wary of what your home has to offer. With everything we have been through over the last couple of years, people want to move in and start to live. Yes, they may do works once they are in, but these are their choices not ones that you have left behind.
When a buyer views a property they want to be able to view it, and this is made tricky if they are distracted by clutter and rooms that don’t function. Not only that, when they start to see jobs that need doing and associated costs involved they will often decide on another house to buy or present a lower offer with these costs in mind. Don’t let your home be on the back foot before it goes on the market, get any repairs done, get it organised and your décor refreshed and make it a home buyers can’t wait to buy.
4. I can sell it myself
There are so many choices when it comes to finding an agent to sell your home, there are even some low-cost solutions that allow you to sell it yourself. The reality of selling your home is way more difficult than you are imagining, and the hardest part of all begins after a buyer is found. It is easy to focus on the pre-offer work, marketing online, sharing on social media, conducting viewings and negotiating offers, yet most sales fall through after this time, which is why you need a good estate agent by your side.
The sales process can often feel like everything is taken out of your hands, often communication can be a challenge and you are left wondering what is happening, and unnecessary delays can occur due to misunderstandings. As your agent, we are your central point for we liaise with all the professionals involved in your sale and also chase those that are in your chain. Should an issue arise, we can be working hard behind the scenes to keep everything together, giving you peace of mind that everything is on track. Read our reviews on Google, and you will see the value we have brought and the stress we have taken away from our past sellers.
5. Don’t bump
We don’t want you crash landing from the clouds with a bump when reality hits you. Listen to the advice from experts before you place your home on the market; this way you can ensure that your sale will meet your hopes and dreams. For an honest valuation and advice on how you can prepare your home for sale, give our team at Shaws Kensington a call on 0207 3869996.