West End estate agents, LDG has always maintained a realistic approach when advising clients, and accurate property valuations have to be given utmost consideration, particularly in the current dramatic property marketi n Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone. Our archives and current databases are constantly reviewed and we are mindful of not overpricing by giving you the vendor the most confident value, without being misleading.
Selling your property and achieving full value! At any given time, three general factors affect the sale price of a property:
- The economic market conditions
- The location of the property
- The market competition - other property like yours competing for the same buyers
These three factors are in a constant state of flux. Interest rates rise and fall, neighbourhoods gain or lose desirability, and as properties are placed on the market, the pool of active buyers changes. No-one can control these factors and wait until all the conditions are perfect. However, they can be maximised to a seller's advantage.
Presentation - can make your property stand out from the competition whether the market is booming or not. Preparing your home to make it memorable and easy to recall as many buyers view five or six properties in a day. In a buyer's market, there is more competition and choice. Buyers can be more selective on matters of detail. In a seller's market, if your home has a wide appeal to many potential buyers, you can achieve the highest possible price.
Location - if the property is in a less than ideal location, you can't move it. But you can maximise the most appealing feature to overcome the disadvantage. If you don't 'prepare' your property, in effect you help the competition look better - you are helping them sell their house! If two houses are similar, buyers will choose the one that touches them emotionally. The market determines the price range: you determine where you house falls within that range
A well priced property is half sold - There are features for which buyers are not prepared to pay extra, for example an underpinned house - buyers expect firm foundations and are not prepared to pay more for that.
The value of your property - We recognise that pricing can be an emotional issue, as you will value your property identity and memories. We understand that it may take time to reconcile with a market valuation where is does not reflect an emotional and personal attachment to a property. As professionals, we will concentrate on the features that buyers will pay for - we want to present the property to appeal to a likely buyer.
Overpricing - This is the most critical judgment as the wrong decision can undermine the eventual sale price. Losing a window of opportunity to market to the most serious pool of buyers can upset your sale or at best delay it.. Serious buyers have done their homework and have seen other properties - they know current values and won't buy something overpriced. If there are no similar properties on the market and there are waiting buyers, a higher price can be obtained.
After the initial marketing, the only buyers will those who are new to the market - the others will only show interest when the price drops or other available property is sold. If your property is over priced, this makes the competition look an even better deal!
Look through a buyer's eyes - There is no need to be defensive - we are not suggesting that your property is a mess or the decorating is a nightmare, but we do all live in our homes with blinkers on, ignoring the odd cracked tile, chipped paint or loose doorknob - you need to position your house for the fresh discriminating eyes of buyers - it is a product for sale. Model homes are completely clean - no fingerprints, grease stains, no toiletries with dust on them - no clutter in the rooms.
No matter how many great elements there are in your home, buyers are 'inspecting' - looking for clues to uncover hidden costs. Once a buyer has fastened upon a negative feature, it's difficult for them to see beyond it.
When buyers are greeted with clutter, they tour the property with the perception that it is small and not well maintained. The tone of a viewing can be set in a single glance - if the buyers first sight is of weeds around the foundations or peeling exterior paint - this is not an engaging and positive first impression.
We quite understand that many vendors feel uneasy as buyers peer into their lives and the way they live. But people are evaluating your property as their potential future home. Without preparation, the home could remain on the market far longer than you want or wait for a buyer with the rare talent to visualise and see beyond what exists and appreciate the larger possibilities.
When selling your home you have an advantage:
- A targeted viewer
- A captive audience
- An opportunity to make multiple impressions
Positioning - When buyers begin to see your house as 'home' they make the mental shift from seeing the property as "a three bedroom house" to the more personal thought..."this would make a wonderful study, a perfect bedroom for Mother, etc". This is called 'positioning' - when we obtain feedback from viewings, we are able to assess the 'positioning' which is an important part in the negotiations that may follow.
We have some of the most experienced individual agents in the West End on hand six days a week and we offer a dedicated and friendly service in the exceptional West End property market and we have always strived to treat our clientele as individuals with a personal and professional approach.
We are highly respected by property and estate agency journalists who regularly seek our opinion for feature articles in the leading national journals i.e. ‘Home’ (Sunday Times) and ‘Home & Property’ (Evening Standard).
