Top Tips from Oakham Estate Agent - How to Make Your Home More Marketable
By nora_hs | Wednesday, September 07, 2011, 13:46
Vernon Moore, Managing Director of Moores Estate Agents, a long established family business with offices in Oakham, Uppingham, Stamford and London, talks about the property market in Rutland and how sellers can make their homes more marketable in the current economic climate.
Vernon Moore, Managing Director, Moores Estate Agents, Oakham, Stamford, Uppingham & London.
I asked Vernon to describe the current market: "There is a market again after a quiet winter which was driven by lack of confidence and extreme weather conditions. June and July saw double the activity we expected, although the high number of 'sold' boards has led to increased confidence - which has created unrealistic pricing expectations. No one wants to hear that their house is worth less than they paid for it".
Vernon went on to explain that pricing levels in Rutland are now on a par with what they were in 2004/2005.
Make your home more marketable
Vernon explained what sellers could do to make their homes more marketable: "It's all about pictures and price" was Vernon's simple response, "Buyers are viewing properties virtually which means that they view less properties than they would have done pre Internet. The average number of viewings a buyer makes is six – it used to be as high as 20. The Internet provides a comprehensive view of each property, often with a virtual tour and makes it easy to whittle out unsuitable properties".
The bottom line seems to be presentation – how your property is presented to virtual viewers and good photography is the key.
We've heard that realistic pricing is key and this is down to the seller and estate agent agreeing a marketable price, however Vernon went on to say that "Property searches on the Internet often contain price bands; for example a buyer may be interested in properties between £100,000 - £125,000. It helps when the property that is being marketed is at the top of a category."
Top Tips for preparing your home to be sold
Vernon's advice was: "Dusting and painting isn't what sells properties. Potential buyers are looking for space and the way to create the feeling of space is to remove all the clutter. This is absolutely imperative preparation for the photography and also for viewings".
- "A downstairs cloakroom and low running costs are now priorities for most buyers. It is good to have evidence of running costs available for potential buyers."
- "Do not over personalise your garden, keep the grass and don't build an enormous fish pond."
- "Open plan dining/sitting/kitchen areas are sought after to accommodate the way we live – not needing to be shut away."
- "Conservatories seldom increase the price of a house by as much as they cost to build."
Are there any local solicitors or surveyors you would recommend to sellers?
"We have developed relationships with Carol Lee at Setfords Solicitors, Oakham and Graham Phipps at Smithers Purslow in Glaston, both of whom provide an excellent service and allow us to keep in step with the whole transaction. Ron Grant Removals is also another excellent local firm that provides a fantastic service."