Getting the best possible price for a property usually means attracting several serious buyers and creating competition for it. Three things can make a big difference: good presentation and marketing, a realistic asking price and choosing the right estate agent.
Here is why each one matters.
Present and Market the Property Properly
A good marketing campaign has two jobs: reach as many suitable buyers as possible and make the property stand out against the other homes they are considering.
That means professional photography, a clear and appealing property description and good-quality advertising where buyers are looking.
How you present the property matters too. Whether you use a professional home stager or prepare it yourself, the aim is the same: make the property look inviting and help buyers imagine themselves living there.
Here are a few things to concentrate on:
- First impressions: For a house, tidy the entrance and garden, clean the windows and deal with peeling paint or other obvious maintenance problems.
- Inside: Declutter, repair minor defects and choose neutral colours if repainting. Clean the windows to maximise natural light and make sure rooms look clean and spacious.
- Outdoor areas: Tidy balconies, terraces and gardens and arrange outdoor furniture so buyers can see how the space could be used.
- Before a viewing: Open curtains and blinds, air the property and switch on lights where needed. Fresh flowers can also make the property feel more welcoming.
You are not trying to disguise the property. You are simply presenting it at its best.
Set an Asking Price Buyers Will Take Seriously
The asking price is one of the most important tools you have for attracting buyers.
Set it too high and buyers may simply pass over the property. Set it realistically and you have a better chance of generating interest and potentially receiving more than one offer.
A good agent should help you look at comparable properties and adjust for differences in location, size, condition and features. Be prepared to hear honest advice about where your property sits in the current market. The price you would like to achieve and the price buyers are prepared to pay are not always the same.
Overpriced properties can remain on the market for too long. Once buyers have repeatedly seen the same property advertised without selling, they may start wondering what is wrong with it and become more critical of its faults.
That is why getting the asking price reasonably right from the beginning matters.
Choose the Agent, Not the Highest Valuation
A good estate agent should do much more than advertise the property and arrange viewings.
They should understand how to position your property, negotiate effectively and communicate properly with both you and potential buyers.
Ask friends, neighbours or other property owners for recommendations. Then look at which agents are regularly selling properties similar to yours.
It is worth speaking to several agents before deciding. Ask about their suggested asking price, how they arrived at it and how they intend to market your property.
Ask the agent to show you the comparable properties or recent sales they used to arrive at their recommended price.
Pay attention to the advice they give you. Do they understand the strengths of your property? Can they explain how they would position it against competing properties?
Do not automatically choose the agent who suggests the highest asking price. A high valuation may sound attractive, but it means little if buyers are not prepared to pay it.
Choosing your agent is an important decision because the quality of their marketing, communication and negotiation can affect the final result.
Choose carefully.
City-Lets' sales data shows that the strongest buyer interest typically comes during the first 20–30 days a property is on the market. That is why the presentation, marketing, asking price and choice of agent should all be properly organised from the beginning.