How do you market your property during a recession?

publication date: Aug 24, 2009
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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Although the buying and selling market seems to have ‘bottomed’ out for the moment and in some areas, properties can be selling within weeks, it’s still important to think carefully about all the different ways you can sell your property to ensure that you give yourself the best chance of selling your home and achieving the best possible price.

Sell via an agent or sell it yourself?
With the internet being the first port of call for many people searching for property, it’s easy  to think that saving money selling via on-line private sales websites such as Houseweb or Propertybroker can save you money.

However, most people don’t realise that it is possible to try and sell your property yourself AND market with an agent as long as the details are included in the estate agent’s contract.

In a market where buyers are still scarce, it is really important to ensure your property is advertised not just to people actively looking, but those passing by estate agents’ windows and popping in for more information and in your local property paper.

How to choose your agent?
Once you’ve decided how you are going to sell, it’s essential to choose your agent carefully, not all agents are the same! Identify via local newspaper adverts, adverts in windows and sale boards, which local agents are selling property similar to yours and in a similar price bracket. These agents are more likely to know how much your property will sell for as they will have the best comparisons of properties like yours that they have recently sold.

Don’t just go with the agent that offers you the highest valuation or the lowest commission, they won’t necessarily be the best agent to sell your home!

What marketing should your agent carry out?
When buyers are scarce, it’s vital to agree with your agent what marketing they will carry out before you sign on the dotted line! Ideally you will need:-

A for sale board
Weekly advertising in the local newspapers
Advertising on key property portals such as Rightmove or Findaproperty
Property details that best describe your property

Check your property details!
You might think that it doesn’t matter too much what’s in the property details, but it really does. You need to make sure that the details reflect your property correctly. If it’s a family home, make sure that it shows there is easy access to the house.  If it’s got a great view, make sure that there is a good picture to show it. Also if the property needs lots of work, then say so, people either like to move in or carry out work themselves, so the details need to be targeted towards the right type of buyers.

If you are struggling to sell your property or can’t find one to buy in your price range, contact us or call 0845 838 1763.



Need help with a property problem? Have a question? Why not call Designs on Property on 0845 838 1763 or Contact Us via email.
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