Before Sell Your Property in London you must know what type of person is most likely to buy your property? An upmarket childless couple? A family with young children? An older person who wants to be near the shops? Now consider which agents appeal to that sector. Look at where they plan, advertisements and their Sty Huge color photographs of palatial residences won’t attract someone looking for a bedsit: they’re busy studying the page with small black-and-white pictures of flats.
Agents are not surveyors and win not be looking for, or be trained to identify, any structural faults in the property. So discuss with the agent whether you should do either of the following.
- Have major repairs made before putting the house on the market
- Get estimates in from builders so that you are equipped to negotiate from an informed standpoint
A good estate agent will suggest that you consider the following three possible prices To Sell Your Property in London:
- An asking price
- A fair price, if you cannot achieve the asking price
- A lower price, which is likely to help sell the property within two to six weeks
Ask them their reasons for choosing each price. They may mention minor repairs like cracked window panes that you can easily fix and which have a big impact on the feel of a place. They will also know how many people are looking for properties of this type, and that will certainly affect the asking price. Ask them how many properties they have had on the market in the last 12 weeks and how many of those love actually sold.
Going through this process with three agents will give you a good idea of the likely asking and final selling price. If the price range differs by more than 5 percent, talk to a couple more agents.
Making your decision
Overleaf there is a suggested list of questions to ask your potential agents, which will help you narrow down your choice of which agent to go with.
Since October 2008, two redress schemes have been formed and estate agents must belong to one of these schemes. The two schemes are the Property Ombudsman and the Ombudsman Services: Property Members of these schemes must keep an accurate written record of their client interaction for six years. If you have a complaint to make, this makes it easier for you to resolve as there is an independent third party that will handle your complaint — for free!
Both schemes require agents to follow a code of conduct.
BE CAREFUL BEFORE SELL YOUR PROPERTY IN LONDON
When choosing your asking price, remember that just as £4.99 is a more attractive price than £ 5.00, so £149,950 seems a far more attractive price than £150,000.
If an agent fails to do this and subsequently doesn’t handle your complaint to your satisfaction, you can refer them to one of the ombudsman schemes.
The code of conduct covers areas that can cause problems between agents, buyers, and sellers. These include the need to fairly represent the value of your property, to provide clear contracts and to give a full explanation of agent fees prior to you instructing an agent to act on your behalf. For example, agents should make it clear to you that if you dis-instruct them and then go on to sell to a buyer they introduced within six months, you may nevertheless be liable for their fee.
According to the Property Ombudsman, most of the issues that now arise between agents and buyers or sellers are communication problems, so it is essential to ensure that you take time to read an agent’s terms and conditions before you sign and ask for key costs in writing. If you are not happy with anything during your sale or purchase, put your complaint or query in writing so there is a record that can be forwarded to one of the ombudsman schemes should you need to involve a third party.
If you’ve been searching to Sell Your Property in London and surrounding areas for any amount of time, contact St – James Capital Investments today for all of your estate needs in the London area. If you’re looking to Sell Your Property in London, you’ll definitely want us on your side, as we are the best estate agent in London.