The Word with Tom Floyd, Sales Manager Winkworth Kennington, says put your property on the market sooner rather than later.
We are now in the middle of spring and our strong start to the year has continued. I am the first to admit that at the end of last year I was apprehensive about what 2019 would bring. However, buyer levels have increased, viewings are up, and transactions are also higher this year compared to last.
Having said that, when I speak to vendors, who are thinking about putting their property on the market, they are shocked to hear that properties are selling.
If you are thinking about selling this year, I would suggest putting your property on sooner rather than later. The summer does get quieter, so you still have a couple of months to get under offer.
Of course, you could wait until September, when it does pick up again, but I fear the market might not be quite as good as it is now.
Most of our vendors are staying in the area and upsizing, therefore with prices dropping circa 15% in the last couple of years, they are actually better off now.
We do see people trying to facilitate a move and make a transaction work rather than pushing for a high sale price and seeing if anyone ‘takes the bait.’ Our vendors who are realistic on price and understanding of the market are the ones who have successful sales and purchases.
If you are thinking about putting your property on the market, then it is important that you get it ready for a sale. We are consistently seeing the properties that show and photograph well, are getting good prices and selling quickly. Make sure your property is always tidy for viewings and that you make yourself scarce, as buyers really don’t want to be subjected to a charm offensive for a first viewing. If you have a garden or outside space, you need to ensure it is looking its best; springtime brings colour to a garden and you must show it off. People often forget, the main reason some buyers are moving is for outside space or for a larger garden.
Lastly, when it comes to marketing, I would be very cautious about going down the ‘off market’ route; ie not listing the property on the portals. It is a very easy idea for agents to sell to you and you will only hear the success stories. Sadly, successful ‘off market’ sales do not outweigh the number of vendors who are unsuccessful. It’s the same as betting, you only hear about the winners!
So, what is the harm of trying and then launching afterwards? Invariably agents will try for a higher price ‘off market’; however, your best buyers are the ones who are going to see it first and once you have lost them, they won’t come back. Ultimately you need to treat buyers with respect, rather than trying to pull the wool over the eyes.