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News Archive From Frost Property:
by Darryl Rixon, Area Manager Few estate agents use floor plans in their property particulars, yet our research has shown that buyers overwhelmingly prefer them to the usual write-up and written dimensions. There are several good reasons behind this preference, which is why we always feature floorplans on our particulars: - Firstly, where several properties are competing for a buyer’s attention, the particulars with the floorplan make an immediate impression. The layout of a property is a major consideration when choosing a new home, and cannot adequately be described by words and room sizes alone. It is the relationship between the rooms in a property that can make the difference between a comfortable and attractive home and a purely functional one. Secondly, people make buying decisions on how a property “feels” as much as they consider its size. Several smaller rooms are often more practical than one impressively large one, particularly when there is a family to consider. Only floorplans can accurately relay how the accommodation actually “works” in practice, illustrating how it could complement the needs of a buyer. Conversely, in instances where a floorplan alerts a purchaser to a blatantly unsuitable property, fruitless viewings can be avoided. This helps to improve the ratio of viewings that actually become sales, saving a great deal of time and frustration. We also have examples of buyers having bought a property that might have otherwise appeared unsuitable, but the floorplan helped them to visualise adaptability in the accommodation that encouraged them to view. Floorplans suggest an open approach to property marketing. No longer do buyers have to translate euphemistic “agent-speak”. After all, the agent’s job is simply to match the right buyer to the right property without recourse to flowery misdescriptions, saving everyone time, and reducing the stress of moving home.
by Darryl Rixon, Area Manager Some estate agents claim that the seller is the best person to show a property to prospective purchasers. However, apart from the inevitable awkwardness of inviting strangers into your home, there are sound reasons why good estate agents prefer to accompany buyers around. When buyers see a property for the first time, they are probably viewing it alongside other properties, and simply want to get a feel for its relative suitability in terms of location, layout, size, condition and style. These can all be assessed within the first few minutes. Vendors are understandably emotive and partial to their own property and tend to go into too much detail and that can frustrate buyers who simply want to assess the property in principle and move on to the next house. Such a vendor can unwittingly appear desperate to sell. The agent on the other hand is the “impartial broker” who has an understanding of the buyer’s needs and can use the feedback gained during each viewing to facilitate the decision-making process, leading to strong offers and decisive moves. Children and pets, no matter how sweet they may be, should also be kept out of the way during a viewing, as they can become an unnecessary distraction. Buyers should be focussed not on the property’s occupants but on the home itself and what it would be like living there. Our job as an estate agent is to facilitate this in order to secure a speedy sale with the minimum of disruption to our clients’ life! Some people feel that houses should be able to “sell themselves” and do not need to be “shown” by estate agents. Whilst this may be true of certain exceptional homes, or where achieving the optimum price is not an issue, most properties require the skills of a well-trained estate agent if they are to sell for the best price within a reasonable period timescale. One benefit of your estate agent showing the house is honest feedback. Many purchasers wish to avoid appearing rude and build up a seller’s hopes by telling them what they want to hear; “It’s lovely – we’ll get back to you”. By the time they have seen several other properties their feedback to the agent about your particular home is likely to be minimal. When your agent shows the property, immediate feedback can be generated from buyers who might not have been so frank with the seller. This helps us understand our buyers and allows us to fine-tune our marketing efforts. Clients often say that sincere post-viewing feedback significantly helps to reduce the stress of selling, and after all, this is surely one of the most compelling reasons for appointing a professional and reputable estate agency to represent you in your sale. Please feel free to contact us if you would like to discuss any aspect of the possible sale of your property, without obligation.
Improvements You Can Take With You by Darryl Rixon, Area Manager We all know that home improvements often increase the value or saleability of your home, but whilst most improvements enhance a property, they generally stay with it when it is sold. However, there are improvements you can make that will not only maximise your home’s potential, but that you can also take with you when you move. Here are some suggestions: -
Remember you are offering buyers a home – not just a house. But do make sure that everyone is quite clear about what you intend to take with you when you move. Just avoid the phrase “that’s going”. Going with the house, or going with you?!
MAXIMISING YOUR SALE PROSPECTS by Darryl Rixon, Area Manager The vast array of property related TV programmes proliferating our screens is certainly an indication of our appetite for home improvement. Presumably this has something to do with pride of ownership and making the most out of an Englishman’s castle. However, once they come to sell, many people are understandably more focused on the next property than they are on the one they are leaving, and it is surprising how many properties we see offered for sale where the vendor has not taken advantage of some simple things that can be done to increase their chances of selling whilst maximising their price. Bear in mind that we are not just selling bricks and mortar, but an inspirational lifestyle, as most people purchase a better property than the one they are leaving. A recent survey among estate agents identified key aspects of property presentation that they regard as important to get right when selling. 77% said that de-cluttering the interior was among their top three tips, 68% included a thorough interior clean, 48% highlighted the need to tidy the garden, 40% suggested neutral decoration, 35% recommended a fresh coat of exterior paint, and 24% felt a new kitchen or bathroom was important. Interestingly, gadgets, technology and security features ranked very low, with less than 1% of agents citing these as important, presumably as these are things that can easily be added at a later date as required. It is interesting to note that the above figures overwhelmingly point to the need to create a strong first visual impression and this concurs with our own findings that whilst buyers do not always know precisely what they want, they certainly know it when they see it.
by John Shearman, Director of Projects & DevelopmentDid you know that if you put your property on with one Estate Agency on a Sole Agency basis and if it was not sold within the time their Agency Agreement was in force, you could still have to pay them a fee if someone they introduce to you later goes on to buy your property within a six month period following the date on which the agreement ended? Well, it could happen. From 1 October 2006 the Ombudsman for Estate Agents has advised all its members that they have to make sure that if a Client has previously had, or even currently has, a Sole Agency Agreement with another Estate Agent that they must inform the potential client that they may be liable to pay two fees. How can you protect yourself from being charged two fees? Firstly, only instruct Estate Agents who are Members of the Ombudsman for Estate Agents. They should display a sign in their offices and on the adverts. The Ombudsman has set out a set of guidelines for its Members that has been endorsed by the Office of Fair Trading This is so that your interests, not the Estate agents, are being looked after. If your Estate Agent is not a member, there may be a very good reason for it, so check it out. Ask for a copy of the Consumer Guide issued by the Ombudsman. It’s white with a blue header and footer. Also make sure you talk to the Agent you are thinking of appointing to sell your property. Are they in the Ombudsman’s Scheme? If they are, ask them how you can make sure there is no dual fee liability on your part. Remember if an Estate Agent is not a member of the Ombudsman Scheme ask yourself why not? Better still, ask them why not?
by John Shearman Yet more changes to the law for businesses large and small to get their teeth into. This time it’s about age. The problem for employers is that they must not seek to employ people of a particular age or with a pre-determined number of years experience. After all, one person may only take 5 years in which to become competent at something while someone else may take 1 or 10 years. Who is to say? So now if I am looking to appoint a new member of staff (and I am) I have no idea whether the person who will be attending the interview will be straight out of school or perhaps someone who retired years ago and now wishes to return to work. On the bright side the unknown adds a bit of excitement to the process! So, if you are thinking of writing your C.V. do not include either your Age and / or your Date of Birth. At the other end of the working life comes retirement. No longer can people be forced to retire before 65. So if your Normal Retirement age is 62 and you want to work until you are 65, you will be allowed to do so. Equally being past 65 does not preclude you from being considered for employment. At some stage though employers will need to know your date of birth. How else will they know when your 65th birthday will be and when you should retire? There are exceptions to the above as is generally the case but we have already seen at least one company banning staff from sending birthday cards to other members of staff. Had they not done so they may have been seen to be condoning such comments as, “it’s better to be over the hill than under it” clearly a comment of a non ageist past. John Shearman is Projects and Development Director at Frost Brothers Limited and is looking to recruit new members of staff now.
SELLING TIPS FOR AUTUMNby Darryl Rixon, Area Manager As the evenings begin to draw in, sellers should take stock of their property if they are to maximise their chances of securing an early sale. Buyer activity is traditionally very good at this time of year, but your property still needs to compete well if it is to sell readily. Here are some tips, with my compliments:
Please feel free to email me darryl.rixon@frostproperty.co.uk for more marketing advice if you would like to sell your house this side of Christmas.
by John Shearman Earlier this year, the Ombudsman for Estate Agents joined forces with the Office of Fair Trading. This is to raise the level of confidence in members of the public when they buy or sell their property through an estate agent who is a member of the Ombudsman scheme. In joining the Scheme the estate agent has to have a code of practice, which is: -
Estate agents are audited by the Ombudsman from time to time and feedback from Clients is sought in the reports made available by the Ombudsman. It also means that should a member of the public wish to make a complaint, there is another body to whom they can appeal and one that can impose a fine or compensation and whom now works in connection with The Office of Fair Trading. With the arrival of Home Information Packs (HIPs) on 1 June 2007 that element of the sale relating to the HIP must be subject to a redress scheme by law. The Government has said that in the Consumer Bill to be introduced in the Autumn of this year it will be compulsory for estate agents who sell property (as opposed to Letting Agents) to be a member of a redress scheme like the Ombudsman Scheme for estate Agents. Until that Bill becomes Law you should look out for the “buy with confidence when you see this sign” sticker on estate agents windows and doors. Ask them for a leaflet. If they have not got one, there is probably a reason for it. Only use one that has.
EMPTY DWELLING MANAGEMENT ORDER by John Shearman Is there a property near you which has been empty for what seems like an eternity? Well help could be on the way in the shape of an Empty Dwelling Management Order (EDMO). A sort of ASBO for long term unoccupied property. Concerned by the number of new homes required and the fact that some 300,000 properties remain empty on a long term basis the Government has introduced EDMO to try to resolve at least part of the problem. Where a property has been vacant for more than six months Local Authorities can apply to a Tribunal to take over such a property. This can include forcing an entry and re-decorating it. The owners permission must be sought before any people are house in it, but they could be let for up to seven years. The residential property tribunals must consider the effect EDMOs would have on the rights of the property owner and take into account the interests of the community. These are powers of last resort where owners have no long-term plans for their homes and where voluntary negotiations with owners have failed. Among the protections for owners is the fact the tribunal must be satisfied the dwelling has been unoccupied for at least six months, that there is no reasonable prospect of it becoming occupied in the near future, that, if an interim EDMO is made, there is a reasonable prospect it will become occupied, that the council has complied with their duties under the Housing Act.” The Chief Executive of the Empty Homes Agency, Jonathan Ellis, welcomed the use of EDMOs. “We have campaigned for many years to bring more of the 300,000 long-term empty homes back into use to help owners get the best return from their asset, help meet housing need and tackle other problems associated with empty property such as crime. So we support the use of these new EDMOs, but only when owners have no reason for leaving their home empty long-term, there is local housing need and they had turned down offers of help from the council.” There are ten exceptions in all, covering, amongst other things, temporary absence, second homes, properties on the market and inherited properties, where special rules apply and which will be exempt for a period of at least six months after grant of representation (probate) is obtained. So there is no need to be alarmed if you are going on a long holiday.
by John Shearman The Government have announced that the Home Condition Report no longer has to be included in the Home Information Pack. The Home Information Pack comes into force on 1 June 2007 and anyone who puts their property on the market to sell from that date will have to have a Pack. The Home Condition Report was to have been compulsory and would have identified any problems that a new owner may have to address. Different areas would have attracted one of three different ratings: -
The Home Condition Report has moved from being a Mandatory document (one which must be in the pack) to an Authorised document (one which may be included in the Pack). Without the Home Condition Report, the packs have little value as they mostly contain the legal papers and searches. There is nothing to stop someone who wants to sell their property, from including a Home Condition Report within it. This would cost more it’s true but it will accurately position your property and take away the potential buyer’s ability to try to re-negotiate the price down because of something they have been advised of in the survey/valuation, but of course, it will not show of a copy of the report! There is one more important document, the Energy Rating Certificate. Just like the one you have on your Fridge and/or Freezer except this one will not be stuck on the outside of your property but included in the pack. The Energy Certificate is required under European Law as part of the Kyoto Agreement, although not until 2009. However in England and Wales, we will be adopting this from 1 June 2007. The Government see the Energy report being linked to environmentally friendly mortgages and schemes run by other parties with a vested interest such as energy companies. Just why an energy provider would take an active interest in getting you to use less (and presumably pay less is beyond me. I’m sure their shareholders would have something to say about that!). An HIP pilot is taking place in the following six areas - Bath, Cambridge, Huddersfield, Newcastle, Northampton and Southampton where the Government is providing £4million towards making sure the new system works from 1 November. Results and observations from this pilot may be taken into account for the full roll out scheduled for 1 June 2007. |
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