By Euro Weekly News Media •
Published: 23 Sep 2011 • 14:28
AUTUMN is usually a busy time of year for property sales and this year is no different.
The worldwide economic slump has lead to lower prices; which needn’t be bad news as it’s great for buyers as bargains can easily be had.
For sellers it can also be good news as even if their house is sold at a lower price, they in turn should be able to catch a bargain themselves.
Many owners myself included bought in Spain when the Sterling/Euro exchange rate was 1.45 or even higher. With the current rate hovering at around 1.14, anyone wanting to sell and return funds to the UK can market their property at a price 20 per cent lower than when originally bought and not lose out.
Of course the market has fallen more than that but hopefully sterling losses are not as bad when this factor is taken into account.
It’s a buyers market and owners must sadly be realistic when given valuations by agents. Some owners say that they are in no rush to sell when advised to lower the price to fair market value. If that’s the case then the house should be taken off the market as otherwise it will become ‘stale!’
A Property advertised for months/years at a higher price to other similar spec. homes, will have potential buyers sitting back waiting for a drop in price or worse the property will just be eventually ignored.
Agents advertise online on property portals such as Kyero. Newly listed properties and others that have had details changed such as new photos or a lower price appear higher on these websites.
A property kept at the same price will feature lower and lower on these portals meaning less people will trawl through the pages to find it. One owner has had their property with another agent for over year without a single viewing.
When told the price they wanted I declined to list the property as there was no point in spending time, money and effort marketing the property when similar properties are available at hugely lower prices.
If something has been done to enhance the property then let the agent know, invite the agent to come and look at the changes or email them a few decent quality photos as these can be added to the website so that potential buyers can also see the changes.
A UK property owner recently sent me the web link to his property and asked for advice as his house had been on the market for two years.
One look at the main photo was all it took and I advised him to ask his estate agent to return and take a new main photo after the owner had cut the foot high grass on the lawn and hidden the huge bright blue wheelie bin which up till now had taken pride of place in the middle of the main photo.
It’s all about first appearances and I fondly remember clients and I having to step over a very used cat litter tray when once opening a front door. Let the agent earn their keep by showing clients around the property themselves. As an owner the best thing to do is fade into the background as it’s easier to sell a house without having an owner trailing along behind.
One house I know has been on the market for four years. It’s a beautiful house in a stunning location yet the owner insists on taking any hapless client on an exhaustive and detailed tour of the house.
Clients leave stressed as nobody likes a pushy salesman. Clear out clutter, keep the garden tidy and if a pool is owned ensure it is kept filled and clean. Baking smells and the aroma of freshly brewed coffee are both clichés that do work but please don’t burn the cake five mins before I arrive with some clients.
Why not follow me on Twitter – http://twitter.com/#!/ESFindmeahomeOr chat via www.facebook.com/FindmeahomeAnd read previous articles at www.euroweeklynews.com/columns/stephen-amore/
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