Services

The property market has avoided the worst predictions of a crash, and after a few months of dipping asking prices, sellers are beginning to feel more confident. The main mortgage lenders have started to offer more competitive rates and this is allowing more people to move or buy for the first time. 

According to The Independent, London and the core commuter areas are at the forefront of the rebound. This is welcome news if you are planning to put your property on the market in the near future. Here are some tips to help you achieve the best price in a short time frame.

Look at your local market

The London market is on a general upswing, but it’s a large and diverse market with significant variations in price between neighbourhoods and boroughs. Therefore the first step is to contact estate agents in your area, such as Hackney, to find out what the local market conditions are like.  

The agents will be able to inform you of recent sale prices of comparable properties to your own, and will understand what type of buyers would potentially be interested in your property. They will also be able to advise you on a competitive price, based on these factors, and also taking into account how quickly you want to sell your property.

For example, if there is no particular rush and there is a lot of demand for your type of property in the area, you may wish to ‘test the market’ with a price at the top end. Alternatively, you may wish to drive up interest with a very competitive price that should attract multiple offers, potentially leading to a bidding war.

However, it’s often a good strategy to price your property realistically from the start to avoid the risk of a stale listing that attracts dwindling interest, or of being pressured into accepting a lower price than you would like. 

Staging your home

The way you present your home is crucial to ensuring that your property sells more quickly and achieves the target price. The first step is to declutter, which means more than just a quick tidy up. You want potential buyers to be able to imagine themselves living there and feel confident that the property will suit their lifestyle.

You don’t want to present a bland and depersonalised space, but if a room is overstuffed with furniture and ornaments, consider putting some of it in storage. This will give the impression of more space, which is at a premium, particularly in London properties. 

Decluttering is a useful process if you are planning to move, because it avoids you having to pack and unpack items that you don’t actually need or want to keep. If there is a lot of work to do, then break it up over a period of time, starting with one room at a time, or even just one or two cupboards.

Freshen up the paintwork if it is looking tired, and consider covering up strong colours with a light neutral colour. This will make the room seem lighter and more spacious, and encourage buyers to think about putting their own stamp on it, rather than just seeing an immediate redecorating chore that needs to be done. 

Check out the view from the kerb and decide if there are any improvements you can make to the exterior of the house. Buyers do judge a book by its cover when it comes to houses, so address peeling paintwork and untidy front gardens. 

Finally, make sure that the interior of the house is immaculately clean with no sign of mould in the bathroom or kitchen. Repair minor damage such as cracked tiles and missing grouting. If carpets or flooring is worn and threadbare, consider replacing it because most buyers will want to move straight in without having any further disruptions. 

Professional marketing

It’s possible to go it alone when it comes to marketing your property, but you will have a much wider audience if you use a selling agent. They will be able to provide professional photography, with other features such as video tours or virtual tours of the property. They will also have an established reputation and online presence with a ready-made customer base.