Selling your property can be a difficult and puzzling experience, both logistically and financially. With an abundance of properties on the market, buyers have plenty of homes to choose from – why should they choose yours? Furthermore, why should they agree to your full asking price when there will be so many cheaper options on the market? As a seller, it is your responsibility (and that of any estate agents may be dealing with) to answer these questions, not just directly, but by marketing and presenting your home in a way that is both accurate and appealing. Sellers who want full asking price will not get it by just setting the price and waiting for a sale; they have to work for it and actively sell their property to potential buyers.
It can be tempting to drop your asking price if you are struggling to sell a property. But why? Hopefully, you didn’t just pluck a high asking price out of the blue and hope for the best – chances are you sought out a professional valuation, looked at the house prices in your area, considered the recent state of the market and the unique features of the property. In which case, your asking price should make sense. You have every reason to stick by it. Dropping the price, though this might speed up the sale, is not the only option available when what you are currently asking does not seem to be working. In this post, we’ll be looking at some ways that you can sell your home for the full asking price without making unnecessary compromises.
Assess your price
No, we’re not starting this article by saying that you should consider changing your asking price – that would be a bit contradictory of us. What we are saying is this: the best way to sell your home without accepting lower offers is by setting a realistic asking price in the first place. Often, if sellers drop the asking price it’s because a sale would have been impossible without doing so. That’s why setting an accurate and reasonable asking price is essential if you want to actually sell your home without making compromises.
The solution here is fairly simple. By using an honest and knowledgeable estate agents – preferably one familiar with the local market – you are able to remove any doubt by setting an accurate and dependable asking price from the outset. But still, you should always conduct your own research into the current market value of your home before agreeing upon any valuations. By setting your prices too high at this point, you are only setting yourself up for disappointment when you are inevitably forced to slash that price after months of dead air.
Keep things up to scratch
Imagine trying to sell a shirt without washing it first, without removing the smells and stains, without ironing it and making it look good as new. Yes, we know, you are not that type of person, but the point is that it would be hard for you to find any buyers for a product in that condition. The same applies to property. While you may still be living in a property while it’s on the market, this is no excuse to stop treating the property like it’s a desirable and valuable product.
Cleanliness, tidiness, presentation, and design are just a few factors to consider when preparing your house to sell. Ensuring that each room in your home is clean and tidy is the bare minimum; perhaps some new furniture or a lick of paint here and there would help with first impressions. Even more costly works are likely to end up cheaper than the potential losses from a price drop. Try to put yourself in a buyer’s shoes and think about what could be improved in the property – what is appealing, what is off putting, and what would your first impressions be as a buyer.
Improve your marketing
If you find that your property is struggling to gain traction and interest from buyers is flagging, the reason may lie in marketing rather than its pricing. Even if your property is presentable, inadequate marketing (which usually takes place online) may be putting off potential buyers before they even get a chance to see your place in person. The majority of people will judge your property on the basis of its presentation on property portals and agency websites. As such, sellers who find themselves in a rut should assess how their property is being listed online.
Again, the quality of your online listings will largely depend on the quality of your estate agents. Some agents take great pride in the accuracy and scope of their online marketing while others, well, devote much less time and effort. If the first impression of your property online features blurry photographs, vague descriptions, missing information and underwhelming selling points, perhaps this will explain why buyers have been reluctant to send enquiries about your property. If you improve the marketing of your property, you improve the opinion your buyers have of it. Speak to your estate agents with suggestions of how to make their listing more appealing or (since they are clearly not doing their jobs properly) switch over to an estate agent who cares about selling your property for the asking price!
For help with selling your home, feel free to get in touch with our friendly team today.