Buyers often waste an inordinate amount of time viewing property that is either too expensive or blatantly wrong in other critical ways.
Additionally, more than 30% of UK property-sales fall through due to buyer or seller suddenly changing their minds. Both these annoyances could be attributed to the agent not having gained a good understanding of buyer/sellers requirements, and/or not having earned the trust required to secure this understanding.
One way of overcoming this is for the seller to address a few fundamental issues prior to agreeing terms, which will help avoid false starts, additional expense and wasted time. Here are a few suggestions:
- Ensure that you get your finances in order and know exactly how much you can borrow, with an “in principle” agreement from your lender.
- Before viewing properties understand the difference between your preferred “wants” and absolute “needs”.
- Locations can vary from one street to the next, and at different times of day. Consider school runs and pub times.
- Do not make an offer on a property unless you are absolutely serious about making it your home. The seller’s expectations will be raised and you could damage your reputation as a genuine purchaser.
- Don’t lie about your home. Be upfront about any defects or the reason for moving if you are to speed up the sale and reduce stress.
- Don’t ignore the facts. If your home has been on the market for several months, it is likely to be overpriced. Promptly reposition it in the market before it goes stale.
- If you’re unhappy with your agent – say so! Don’t be afraid to change agents, being careful to note any onerous contract terms, and don’t change more than once, or people with think it’s the property – not the agent!
Please feel free to call your local Oakfield branch if you would like further advice on how to prepare your home for an efficient sale.
Neil Newstead, FARLA MNAEA
Chief Executive Officer