Michael Hardy Blog, News & Updates

How to sell your home in a tough market

26 November, 2018

It can seem daunting to even consider putting your property out there when there’s no shortage of other sellers looking for a buyer. But, there are ways that you can maximise your chance of a sale and give your property the edge over other houses on the market.

These are our best tips for selling your home in a tough market.

Choose the right estate agent

If you’re planning on selling your home through an estate agent, it’s crucial to choose the right one for you. You need to make sure that the estate agent you choose is passionate and enthusiastic about selling your house – someone who sees, and will sell, the positive aspects of your property.

Try asking friends and neighbours for their recommendations and try researching estate agents who are selling property similar to yours. You could even select a few different agents to come and give your property a valuation.

A key aspect to consider when choosing an estate agent is that you will be working with them on a regular basis, so it’s important to instruct one that you get along with. Make sure to check whether the person who initially values your home would be the same one you go on to work with throughout the sales process. With Michael Hardy, you deal with the same team of people, here in our High Street office, from the valuation of your home all the way through to handing the keys over for your property upon completion.

Make a good impression

Your property needs to capture the imagination of a prospective buyer from the outset especially when there are lots of similar houses on the market for buyers to choose from. It’s important to ensure that your house is looking its best, so keep your home clean and tidy throughout and don’t forget that kerb appeal!

It may be necessary to make some small changes, such as repainting walls in neutral colours, or changing out furniture to decrease clutter and reduce over-personalisation. You may also want to make some slightly bigger changes if there are rooms that could do with an update – especially if those are either your kitchen or a bathroom. These rooms are crucial selling points for a home so they should look as good as they possibly can. For more ideas on how to present your property for sale see our hints and tips on our website.

However, think carefully about any larger scale renovations or remodelling. Make sure you consider any renovation ideas fully and thoroughly to work out if they will add value to your home without being overly expensive, especially in this very price sensitive market. You need to weigh up the risks of investing more money and time into your property without the guarantee that you will recoup this investment. We are always on hand to offer further help and advice on this matter, just give us a call; we can arrange a valuation of your current property and discuss the benefits of any further home improvements before launching your property for sale.

Make sure the price is right

It can be tempting to choose the highest valuation you receive as your asking price when putting a property up for sale but, in a tough market, this may not always be the wisest decision. It’s important to ask your agent on the valuation for comparable evidence of properties that have sold recently. This gives you the reassurance that the price the agent is suggesting is truly reflective of similar properties in the current market, not just a ploy to win your business. Price is a critical consideration for potential buyers – most are looking for the best value for money, so you’ll need to make sure that the price is right for both the market and the style of properties you’re competing against.

Check the prices of similar style or nearby-located properties to see what price they are being marketed for. You could also employ an undercutting technique – value your home slightly below the properties you’re competing against to appear better value.

You don’t want to set your price too high or it can often hang around on the market for much longer than it needs to and in unpredictable times you could run the risk of the market changing over this period. Setting a lower price will attract more interest and increase the chance of getting some competitive bidding.

If you’re planning to sell your home in the current market you’ll need the right estate agent to help you on your selling journey. A team that understand the market and are experienced negotiators, able to get you the best price for your prized asset. At Michael Hardy, our vast experience and knowledge of both the local area and the property industry means that we can assess the market and your property to make sure your home is positioned perfectly for sale. Contact us today to find out more.