Date Published 08 November 2016
If you are considering bringing your property to the market shortly, here is a handy article to consider. We use this principle when we take on a property, known as the '4P's' it helps to achieve the best price for our sellers.
1. Price
Perhaps the biggest of the 4P's is Price. The pricing of a property can be a science over an art, or maybe a bit of both. Agents will check for similar properties to see what they have sold for, the Land Registry sold house prices is a good source of information as is Zoopla's guide to price rises and Nationwide Building Societies House Price Index, we also use our local knowledge and past experience and in conjunction with the homeowner arrive at the price. Sometimes agents will price bracket a property, the lower figure as the headline figure with buyers normally offering somewhere in between the two figures.
2. Property positives
Walk around your home and make notes of all the reasons why you purchased the property. Was it the proximity to local shops or the station? Or was it the beautiful sunrise you see every morning as you open the curtains in the main bedroom? We quite often find that the very reason you bought the property may attract the next buyer. Make notes of all the positives, size of the largest bedrooms, if you have a garage or car port, direction of the sun in their garden. West or South Facing gardens are quite often requested by buyers. What are the parking arrangements, can owners take their cars off the road and keep them secure?
3. Photographs
Next to location and price; photographs are the third most important feature on the property portals. An agent would like to take between six and nine photographs of your property, we will only use an image if it will enhance your property. Most agents will use a good quality digital SLR camera like a Canon EOS or Nikon. A tripod will help keep the subject matter crisp and clear and stop any potential blurring. The subject of the image is important too. De-clutter and remove anything out of the room that may look unsightly or make the room look cramped. We quite often set and arrange the dining room as if we were to be entertaining; why not look to create a good ambiance for the room and give the room a clear function. Lighting is just as important, nothing too bright or too dark. If the room is dark, turn on side or wall lights or even better, recess spotlights if the room has them fitted.
4. Positioning in the marketplace
Research from rightmove.co.uk suggests that sellers spend at least six months prior to putting their property on the market deciding their next course of action. Sellers do this by visiting estate agent websites and the property portals to see if there are similar properties to theirs on the market and what they are selling for. This gives them a good idea of their positioning in the marketplace and an idea of how much they would likely achieve for their property if it were to come to market. When we carry out a valuation we would always check where that property's competition is, if any.
These are the 4P's in bringing a property to market: A fifth P could well be portals. The main portals to market a property on are Rightmove and Zoopla, these two sites will give your property the most exposure possible online. Rightmove is strong in Essex whilst Zoopla is strong in East and Central London, bear in mind that many buyers move east and the short drive from Romford and Harold Wood to Billericay has been very popular over the past fifteen years.
