“Showing Buyers Around” (Part One)

Some estate agents claim that the seller is the best person to show a property to prospective purchasers.

However, apart from the inevitable awkwardness of inviting strangers into your home, there are sound reasons why good estate agents prefer to accompany buyers around.

When buyers see a property for the first time, they are probably viewing it alongside other properties, and simply want to get a feel for its relative suitability in terms of location, layout, size, condition and style. These can all be assessed within the first few minutes. Vendors are understandably emotive and partial to their own property and tend to go into too much detail, which can frustrate buyers who simply want to assess the property in principle and move on to the next house. Such a vendor can unwittingly appear desperate to sell.

The agent on the other hand is the “impartial broker” who has an understanding of the buyer’s needs and can use the feedback gained during each viewing to facilitate the decision-making process, leading to strong offers and decisive moves.

Children and pets, no matter how sweet they may be, should also be kept out of the way during a viewing, as they can become an unnecessary distraction. Buyers should be focussed not on the property’s occupants but on the home itself and what it would be like living there. Our job as estate agents is to facilitate this in order to secure a speedy sale with the minimum of disruption to our clients’ life!

“How Long Has It Been On The Market?”

One of the first things a buyer will ask an estate agent when offered a property is “How long has it been on the market?”, and with good reason. Buying a property is a huge transaction and it takes courage to commit to undertake such an apparently huge decision – often with very little support other than pure instinct.

One of the most persuasive and apparently reliable indications as to the suitability of a property is to check out whether other people have expressed an interest. There is great comfort in knowing that you are not the only one who would like to buy the property.

Once people hear that others have expressed an interest, then everyone seems to want the property as the power of this “social proof” kicks in. This competition can often stimulate a quick sale at a high price, and usually occurs when a property is attractively priced in relation to other properties available for sale.

Of course the opposite is also true. When the price of a property is overly ambitious, the excitement that should surround a property that is new on the market is reduced, and it can begin to go stale. This is when nobody has made an offer and the property is seen to be repeatedly advertised. When buyers find out that it is no longer new on the market they think “Well nobody else wanted it – perhaps we are making a mistake.”

So our advice would be to position your property as one of the best available in its price range from day one. This will prompt interest and encourage asking price offers from qualified buyers. Under your agent’s advice, you should then have a choice of buyer, resulting in a fast, reliable, sale at the highest price the market will pay.

“ Autumn’s All Go!”

With the summer now firmly behind us, the market is active once again, and we actually find that we currently have the opposite of many estate agents – we have far more buyers than we do stock, but predict that there will be a run of properties coming onto the market in the run up to Christmas. Those who enter the market ahead of this rush are likely to be the winners, as they will be competing with old stock.

Property which is new to market is highly prized over old stock. The first question buyers ask is, “how long has it been on the market?” If nobody else wanted to buy it – why should they? Any agent will tell you that a property is most likely to sell within the first two to three weeks of marketing. That’s when buyers are excited about your property, often leading to a price increase as buyers compete for your property.

So if a move is on the cards, we urge you to consider bringing it forward if at all possible. You can always extend your completion date if need be. But the key in this market is to secure a buyer sooner rather than later.

We would be happy to create a Marketing Plan that really works for you – without obligation – quickly, efficiently and with great care and courtesy for local homeowners over the coming weeks.

So why not call us today, and discover a refreshingly different estate agency?