Advice From Frost Property:

• DECIDING ON PRICE AND VALUING YOUR PROPERTY FOR SALE
• HIT THE ROAD
• BUYERS WARM TO A REAL FIRE
• WORKING IN PARTNERSHIP WITH YOUR ESTATE AGENT

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Deciding On Price

by Darryl Rixon, Area Manager

Whatever anyone might say about location, condition, proximity to schools, size, etc., it is the price at which a property is initially marketed that is the key to a successful sale.

But emotions often cloud good judgement. The chance to secure a high price can prompt sellers to quote too much, and the house then misses early buyer activity. Quote too little and the resulting fast sale can fuel resentment as one might feel one could have sold for more.

So one needs to ensure that the heart does not rule the head. One may have put a lot of time, love and money into the property and naturally want the price to reflect it. Maybe one needs a certain amount to secure another property, or simply that there is a need to track national house-price trends. Perhaps taking a guide from a similar property that has recently sold nearby.

However, the only thing that really counts is the supply of able buyers in relation to the supply of comparable properties, and what those buyers are prepared to pay in view of such competition. Local estate agents are the only people who have a handle on both. Armed with this information, a good agent can make an informed recommendation as to an asking price that will maximise the chances of selling at an attractive figure within a realistic timescale.

If you are considering selling your property and would like a carefully considered and qualified view of the likely sale price of your property in the current market, then please feel free to contact us for a free no obligation market appraisal.

Valuing your Property for Sale

We know that UK house prices have rocketed over recent years. However, establishing an accurate asking price that will optimise the chances of selling at the highest likely price within a reasonable timescale is both an art and a science.

Estate agents’ valuations can vary tremendously. Some agents attempt to win instruction by adopting flattery with a high but unrealistic suggested asking price – beware! Some, due to inexperience or unfamiliarity with current buyer trends, haven’t got a clue and get it plain wrong – which can cost time and money. Some are more responsible and advise the right price from day one.

We take the pricing issue very seriously and much consideration is involved before we recommend an asking price.

As a rule of thumb, always ask two or three reputable agents to suggest the optimum market value and base any pricing decision on these valuations. It is critically important that one quotes the right price from day one and achieve or exceed it, rather than quoting a high price and then encouraging low offers. The wrong price attracts the wrong buyers, and fewer suitable buyers view the property – thereby minimising the chance of receiving an offer in any event.

Ultimately the critical part is to select your estate agent on the strength of their service, reputation and marketing plan - not simply on their valuation or commission rate. 

If you are considering selling your property and would like a carefully considered and qualified view of the likely sale price of your property in the current market, then please feel free to contact us for a free no obligation appraisal.

Hit The Road

by Darryl Rixon, Area Manager

Location, location, location is the somewhat overused maxim applied by many as a rule of thumb when selecting a property. However, a closer look reveals that a compromise of this principle can produce significant benefits for property purchasers in the local area.

Clearly, most purchasers’ idea of a dream home is one in perfect condition with a beautiful garden, massive sunny accommodation, off street parking, and found in the best street in the area – preferably a quiet, leafy, cul-de-sac. And of course, it must be cheap!

Sadly this idyllic combination does not exist, because if the first seven criteria are satisfied, then the price is likely to be astronomical! So budgetary constraints typically force buyers to accept a degree of compromise and for many, this will mean asking the children to share a bedroom, making do with a patio rather than a garden, doing some DIY or parking the car in the street. Last on many people’s list is buying on a busy road!

Yet consider the advantages.  Firstly, properties on a busy road are usually considerably cheaper than similar properties in a quiet street. This means that you can buy far more for your money. It could well mean that you will not have to compromise on those very things that contribute to an attractive property lifestyle. You might actually gain attributes such as a playroom for the children, a garage for the car, or a garden large enough to exercise the dog.

Most people who live on a main road tell us that they no longer notice it.  There is no reason to think that such a property might be a poor investment either, because just as you bought it at a discount, so you will sell it in the future – although by then it may well be in a traffic-calming zone!

Buyers Warm to a Real Fire

by Darryl Rixon, Area Manager

The fireplace was traditionally the heart of every home but changing lifestyles over the past four decades have relegated many of them to the scrap heap with many families choosing to huddle around the TV instead.

However, the fireplace has seen a huge resurgence in popularity as a design feature among buyers, so if you are considering selling, it might be worthwhile investing in a fireplace or revamping your old one before going on the market. There’s a huge choice.

If you are replacing a bricked-up chimney breast with a fireplace, here are a few things you may wish to consider:

• Check that the chimney actually works. Many have been capped, and in some cases the chimneybreast on the upper floors has actually been removed altogether.
• If you don’t have a chimney-breast, a solid fuel stove can sometimes be installed, even using a horizontal flue through a ground floor wall.
• If you live in a smoke-free zone, make sure you buy the appropriate fuel.
• Don’t feel you necessarily have to find an old fireplace for an old house. Many people feel that contemporary fireplaces complement their traditional surroundings.
• A fireplace in a large bathroom is a particularly luxurious selling point.
• An instant and more practical alternative to solid fuel is a real-flame gas fire using ceramic coals. Note that you may need to line your chimney and have the emission levels professionally checked. 
• How about a gel fire? This recent innovation is a purpose designed fire bowl that can be moved from room to room.

So why not embrace the pleasures of a real fire that not only gives warmth and comfort but is also a more sociable alternative to the TV as the focal point of any room? It could help you sell your home!

Working In Partnership with your Estate Agent

by Darryl Rixon, Area Manager

When the time comes to sell your home it is important to ensure that you entrust the sale to a reputable estate agent if the stress of selling is to be minimised.

However, the most successful sales tend to be those where the seller and agent work hand in hand during the marketing process.  Here are some pointers: -

• Be open with your agent about any problems with the property. Even if these cannot be solved, awareness of an issue could save a sale.
• Ensure your agent is properly informed about those fixtures and fittings that will be staying or going.
• Tell the agent if you have any direct buyer enquiries – it can avoid confusion over commission.
• Ideally your agent should accompany all viewings, but if you show the buyers round yourself, immediately let your agent know how the viewing went, so he/she can follow-up appropriately.
• Keep the house and garden clean and tidy at all times – you never know when you might get a short-notice viewing.
• Aim to be as flexible as possible over viewing times and completion dates.
• Agree to listen constructively to your agent’s feedback and recommendations.

As your selling agent, we would share your objectives - to achieve the fastest sale at the highest possible price with minimum disruption to your lifestyle. So help us to help you. After all - we’re on your side!