The housing market has had challenges over the last 18 months, but it has also provided possibilities for both buyers and sellers. For some, the booming market has resulted in many offers, competitive bids, and successful transactions. Others, meanwhile, will be frustrated because they will not be able to find what they are seeking for. There was exceptional demand that continued during the first three weeks of January 2022, considerably outnumbering the available dwellings. Here are some suggestions for buyers and sellers in today's market.
For SELLERS
1. Don't wait for the spring market to sell your home.
Vendors in both the London and country property markets currently appear to have a fantastic chance. Experts, including estate agents in Doncaster, opine that if you're planning to sell this year, now is a wonderful time to take advantage of the current market conditions.
2. First impressions are crucial.
Photographs are crucial in the sale of any home and are the first step in getting potential buyers to schedule those all-important viewings, especially now that the majority of consumers start their searches online. If your home has been on the market for a while, you may want to consider having new images made so that they are seasonal and do not appear obsolete. Request that your agent modifies the order of the image carousel online for a quick
refresh. While outside images are generally the greatest choice for the lead image, if your home has a warm living room or a gorgeous kitchen, this may be a better option during the winter months.
3. Makeovers
Properties that are well-presented can draw more interest than those that aren't. If your home is unfurnished, consider having a few key rooms outfitted so potential buyers can get a sense of the size of the rooms and how their own furniture would fit in. If you decide to furnish your home, make sure that the furniture and furnishings match the design of the property and the type of lifestyle it may provide. Keeping things simple and avoiding clutter is a good general rule of thumb.
4. Make certain the price is reasonable.
It's critical to have your home evaluated and marketed at the right price if you want to sell it. Well-priced properties sell faster and attract more competitive bids, however too ambitious pricing can turn off buyers, especially if they are looking at many properties at the same price point.
We've even seen some sellers in England test a 'offers in excess of' price tag, which is more common in the Scottish property market. This method of marketing property isn't for everyone, and it can be confusing for buyers, but when done well, it can generate competitive sealed bids and has created some excellent results.
FOR BUYERS
1. Keep your mind open
To stay up with the present market's pace and expected competition in key markets, and you must be open-minded in your home search and accept that most purchasers will have to make some concessions. Instead of making a long wish list, make a list of your must-haves and a list of one or two deal breakers to help you stay focused on what you want from your future move.
2. Flexibility
With rising competition, being able to deal swiftly might be advantageous, especially if the sellers are also eager to acquire. If multiple parties are making offers on the same property, making sure your finances are in order and that you have a skilled solicitor will help you stand out. Flexibility, as well as having a pre-approved mortgage or being a cash buyer, will benefit you.
3. Rethink your budget
In today's market; it's not uncommon for properties to sell for or above their asking price. Over the last 12 months, an average of 100% of the reference price has been obtained across the UK, so if you're being outbid, look at houses that are a few per cent below your maximum budget. By doing so, you'll hopefully prevent the disappointment of missing out if it's the one for you, and you'll be able to submit competitive bids.
MARKETING TIPS FOR ESTATE AGENTS
1. Have a consistent marketing plan
To avoid peaks and troughs in your marketing activity, no matter how busy you are; you must maintain a regular level of marketing activity. The idea is to have a consistent stream of high-quality fresh leads. The solution is a practical marketing plan that you can keep to. It's even more crucial to stay consistent and work on establishing your future pipeline if circumstances are rough and there's more famine than feast right now.
2. Become an expert in your area's real estate market.
The local real estate market piques everyone's attention. In fact, giving information and data in a knowledgeable and professional manner increases your chances of receiving instructions. According to the 2020 Home Moving Trends Survey, 81 per cent of home movers rank market knowledge as one of the top five reasons for hiring an estate agent. Another strategy to boost quality leads for your estate firm in 2022 is to establish yourself as a local property market specialist by educating, inspiring, and establishing credibility and trust.
3. Make a good first impression with your property images.
The attraction of a property is primarily determined by how appealing it seems in photographs. If you want to expand your property supply and sell your listings rapidly, the quality of your images is critical. Why? Because today's sellers recognise the value of high-quality photographs. Looking at your current listings might give you a good idea of whether you'll be able to do their property credit. They could mean the difference between a new instruction being won or lost.
4. Deliver a memorable customer experience.
The value of offering an amazing customer experience is demonstrated by the fact that 77 percent of customers are likely to tell others about their positive experiences. Property purchases and sales are high-value transactions, and the service you deliver to your consumers should reflect this. Referrals will become a significant marketing tool for your estate firm if you provide an amazing customer experience. Adding a few personal touches at the end can also make a big difference.
