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  • Property-a-holics

    The only 3 reasons a property will not sell

    On the contrary -  they have had a massive  2500 offers precisely because of the price !

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    Jonathan Clarke. http://www.buytoletmk.com

    As I work in marketing I love the use of the 4 P’s here. 

    I also think looking at the Five A’s in terms of property would be interesting.

    Aware – This is where potential buyers become aware of your property. It’s all about having the right channels, so Rightmove and Zoopla is the obvious ones here. But also down to having the right eye catching photo as your main photo to get peoples attention and get them to click on your property.

    Appeal - This is where the potential buyers makes a quick assessment of the property. Does it meet their requirements, how does it compare to others they have looked at. This is where the right photos and description is important. Also, having the right price so they don’t automatically dismiss it. Also, making sure you really get across the key selling point over other properties, for example a big drive.

    Ask - This is where the buyer starts to dig a bit deeper. They start to try get answers to their questions. Is it in a good area, is it near a good school for example. Having this info available to them important and making sure you have a good agent can help with this. This is will also include the viewing. The viewing is obviously very important and getting the house ready a presentable is key. They are trying to answer the question, do I want to live here. Make them feel like it is a great place to live. 

      Act - This is where they act and actually put an offer in and hopefully buy.

    Advocate – This has become the most important steps in the digital age. People trust other peoples opinion much more than anything a company says. If you are a developer or landlord who has multiple properties to sell or let, this is an important step. You want your customers to telling us how it’s such as great place to live and how easy the buyer or renting process was.

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    A neighbour is putting up his property at £750k for the third year in a row now. It didn't work twice before but maybe it will be third time lucky for him!

    We've thought if it was priced at £650k it would sell for something beginning with a 6.

    Maybe in 5 years time or so he will get lucky with his £750k but doubtful it will be this year.
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    When selling a property, I think its important to consider that the only offer you get might be the best offer you get.

    I heard the term “The first cut is always the cheapest” this week and I think that is a pertinent observation.

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    Maybe everyone will shout price at me but what about the human element...

    A nightmare neighbour / legal dispute?

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    One thing not to do, when you are desperate to sell, is to take to social media .... "This million pound property won't sell for one pound" ... not exactly a good testimonial for anyone who might consider buying it?

    https://propertyindustryeye.com/so-how-w...two-years/

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    New figures from property site Zoopla show over-pricing can more than quadruple the time it takes to shift a home, seeing sellers wait more than three months before an offer comes in.

    And rather than simply "chancing your arm" to see if someone will bite at the higher price, listing too high might even see you sell for less.

    Zoopla spokeswoman Laura Howard said: “Our analysis only goes to prove what every good agent already tells us - that pricing your home realistically results in a better chance of a quicker sale.

    “Entering the market fresh with a price that’s too high is not just a gamble that might not pay off, it can actually be detrimental to the selling process."

    Full/source article

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    This is a pertinent topic as I have just put a rental property up for sale for the first time. I've priced it at what I believe is realistic in comparison to another optimistically priced one around the corner. I think our experiences of purchasing has taught us that purchasers & sellers need to feel a bit of a win, so that the sale is more likely to push through

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