For many years, the real estate market in the UK could count on a strong spike during the spring period due to a tax rebate for first-time home purchasers known as the stamp-duty exemption. However, this exemption expired in March, 2012, which caused home sales to stagnate and prices to fall. None of this is good news for those looking to sell a home.
That’s why it’s crucial for those looking to sell a house in the UK to be realistic about the current marketplace. And the current reality sees many potential buyers making hardline offers confident in the likelihood they will get resultant sale price far below market value. But even in today’s unsteady real-estate climate, there is no need to
submit to the lowest offer on the table merely to move the property. In fact, there are many things homeowners can do to position their properties so that they save money and get good offers representative of fair market value.
As far as savings are concerned, there is much money to pocket if the seller forgoes hiring a real-estate agents. At 1.75%, that commission can end up translating into thousands of pounds. And with that kind of savings, the seller then has the freedom to entertain lower offers, which may result in a quicker sale.
Of course, real estate agents exist for a reason: they know their way around the market. To the average homeowner, the idea of selling a home themselves is a daunting one. But it isn’t impossible. There are a number of resources out there designed to help homeowners sell their property without the use of an agent. This tutorial from Channel 4 is one useful example.
Get the most from an agent
Those who do decide to hire a real-estate agent should do so keeping a number of things in mind. First, the personality of the agent is of critical importance. Therefore, it is necessary for the author to gauge this personality in order to ensure the agent he or she settles on is personable, enthusiastic and has the experience to be able to sell a home even in a flat market.
The good thing is that during times when the market is struggling, it is even easier to retain the services of a quality agent without paying a huge commission. That’s because agents are in direct competition with one another and in dire times are more willing to cut their commission in order to secure work.
Appeal directly to the buyer
Whether working with an agent or working alone, it is crucial for the seller to incentivize his or her property. That means communicating any impressive facts and figures that would make potential buyers amenable to the property and the area.
This may include the mention of:
Low crime rate statistics of the neighborhood
Quality of the local schools
Accessibility of public transport
Recent home improvements
These are just some things to bear in mind when considering how best to sell a property in a depressed or otherwise flat market. But even after taking these considerations into account, sometimes the best way to entice potential buyers is by adding a fresh coat of paint to the home and trimming the garden in order to make it as aesthetically pleasing to the eye as possible.