13Jul
JUNE HOUSING MARKET UPDATE
THE DARTMOOR OFFICE, ASHBURTON: 01364 652652
THE TEIGN VALLEY OFFICE, CHUDLEIGH: 01626 852666
THE HIGH MOOR OFFICE, MORETONHAMPSTEAD: 01647 441104
06Jun
When you have your home up for sale, time seems to stand still. You’re in limbo, caught between your old life, and your new one, with no way of knowing when you’ll be able to move on – both literally and emotionally.
As the weeks turn into months, and the viewings dry up, it’s easy to become despondent and dispirited. Especially when you see house after house in your area sell, even those that came to the market long after your house did.
You can’t define why no one seems to want your house; you chose a professional estate agent; your asking price is about right; you have kept your house looking lovely for viewers, so what’s gone wrong?
Firstly, you’re not alone. Since 1846, Sawdye & Harris have worked with homeowners that have also been completely demoralised by their inability to move on. With some discreet research, we have often found that their marketing strategy was flawed, and their online presence sadly lacking in quality; none of which was their fault.
Secondly, if you find yourself in this position, with a lack of viewings, having had your house on the market for months or even years, our ‘Re-launch Strategy’ will refresh your marketing – and hopefully your motivation too – and get your house sold for the price you want.
Time to start again
We suggest a return to basics. In essence, you are going to pretend you have never tried to sell, and instead plan a launch of your home to the market. This time though, every aspect of your marketing campaign will be perfect, right from the start.
· Take your house off the market
This probably feels counter-intuitive, but it can help to revitalise your home sale. A break from the market has several advantages: it gives you a break, it stops your house becoming stale and it gives you the chance to take stock and plan a launch properly.
If your agent demands a notice period, then give them formal notice in writing; you can always rescind this later if you change your mind. Ask that during the notice period your house be withdrawn from any online advertising. This will give you the space you need to start planning your re-launch.
Prepare your home properly
Make sure your home is ready for photography and viewings. Perhaps this is a step that you rushed or even overlooked the first time you put your property on the market, but it’s vital you spend time and effort, and even money, on this very important preparation for marketing.
· Consider marketing your home with a new estate agent
The estate agency you have used to market your home previously may not be the best to re-launch your house to market effectively. After all, they have tried and failed to sell your property.
Whatever the reason, their motivation and enthusiasm for selling your home after trying for some time without success, is bound to be low. Sometimes you just need an agent with a fresh attitude and new enthusiasm to add new life into a marketing campaign.
Don’t just choose the agent with the lowest fee and highest valuation. Take a considered view on their professionalism, their success locally, and whether you like them or not. After all, you’re going to be working quite closely with them for some time.
Take a critical and if you can, objective view of the photography used by your last agent or agents to market your home. Is it really good enough? Look at the photographs of the best homes marketed online by Savills, Knight Frank and the other premium agents. Does it compare, or do your images look like the agent has just snapped them in a hurry on their small point-and-shoot?
· The ‘write’ way to sell your house
Once you have your home presented beautifully and some gorgeous photographs, the next step is to turn your attention to your written description. The words used to describe your home in your brochure and online advert need to persuade a buyer it’s worth the time and effort to view your home.
The final decision to make before you are ready to re-launch your home to the market, is the asking price. Ask yourself:
Does your agent support it? If you set your asking price way above that which the agent recommends, their lack of support could well be evident in the way they talk about your property to their team and also to buyers
Is there precedent? If your home is unique, there may well be a lack of comparable properties, and therefore you have much more flexibility in the price you choose to market your home at. However, if you are in a row of similar properties, chances are that there will be plenty of historical evidence to guide you into choosing an asking price that fits in with those of your neighbouring properties.
Does it fit in with an online search? Currently, 93% of property searches start online (source: Rightmove). You need to choose an asking price that will ensure your home is found by the maximum number of buyers searching the property portals. To maximise the number of buyers who will see your property, stay away from the 9s, such as £499,999, and instead choose a rounded figure that fits in with the price bandings the online portals use, such as £500,000.
Ready, Steady, Launch!
You’re ready to launch, this time, with success!
Taking back control of your property sale can feel empowering and motivating. The steps might be simple, but not necessarily easy. And that’s where we come in.
If you’re struggling to sell your home, maybe we can help you to move on. Let’s have a chat so we can understand your moving plans and guide you through the options. You can pop us an email at hello@sawdyeandharris.co.uk or call us on 01364 652652 We also have lots more information about selling your home so get in touch today.
01Jun
It is the 1st June 2019 – a day of great change, time for a change in how we all do things with regards to lettings, its a new era for the industry and one we must all embrace.
In an industry that is evolving, with increasing legislation, landlords need the best quality service, and now more than ever need a letting agent who is professional knows what they are doing and being ARLA Propertymark is ahead of the game. Find out more in our video update ….
31May
What does the new Tenant Fees Act mean for you?
The law around what tenants can be charged for when starting new tenancies is changing this Saturday (1st June).
But what does that mean for renters ?
The Tenant Fees Act will apply to new tenancies and renewals of tenancies, meaning that landlords and letting agents won’t be able to charge for a range of admin fees that they previously had, and has capped tenancy deposits to five weeks.
This new legislation means that some tenants could save hundreds of pounds.
For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant’s behalf) the following permitted payments:
- Holding deposits (a maximum of 1 week’s rent)
- Deposits (a maximum deposit of 5 weeks’ rent for annual rent below £50,000, or 6 weeks’ rent for annual rental of £50,000 and above)
- Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if lower, any reasonable costs)
- Payments associated with early termination of a tenancy (capped at the landlord’s loss or the agent’s reasonably incurred costs)
- Utilities, communication services (eg. telephone, broadband), TV licence and council tax
- Interest payments for the late payment of rent (up to 3% above Bank of England’s annual percentage rate)
- Reasonable costs for replacement of lost keys or other security devices
- Contractual damages in the event of the tenant’s default of a tenancy agreement and
- Any other permitted payments under the Tenant Fees Act 2019
The Act also states that agents and landlords don’t have to pay back any fees they have charged a tenant before 1st June 2019. So, if an agent or landlord requires a tenant to pay a fee linked to a contract that started before the ban came into force, such as check-out or renewal fees, they can continue charging those fees until 31st May 2020.
This new Act should spell some good news for tenants and it may also meand that more people are able to move more often if they want to, thanks to the reduction in the cost of moving.
Miles Shipside from Rightmove commented :
“It remains to be seen if the ban will be passed on in other ways such as increasing rents and tenants will still need to find a pretty hefty rental deposit in many areas. What we really need now is more fresh stock for the rental market so that rents don’t continue to rise at the current rate we’re seeing.”
For properties in Wales, changes to tenant fees will come in from September 2019.
For more information contact us on 01364 652652 or 01626 852666
Source: Rightmove.co.uk
16May
APRIL 2019 HOUSING MARKET UPDATE