_Selling your home? Top ways to get the highest price for your property

'How do you achieve full asking price for your home'?

This is the single most asked question when people find out I’m an estate agent, be it at a café, dinner at a friend’s house or simply chatting with someone in the park.

The question always remains the same, and its natural, since the Second World War no other asset has performed close to that of property, so it is no wonder we have become obsessed with knowing the value of that asset and also the pursuit of learning how to maximise it. 

So, bluntly asking, 'how do you achieve full asking price'?

First of all, do your own research, the only way you will maximise the price is knowing what the price of your property actually is.

Now that doesn’t mean that you should know within the penny, the market doesn’t work like that, but within 10% is important.

The most important points to consider is keeping the décor and colouring as neutral as possible, not boring but equally not flamboyant either

I often meet clients who have no idea what their property is worth and sometimes they can be off by more than 25-30% each way.

If in reality it is that much less you may find that selling is not an option, alternatively if you’re lucky enough to be told your property is worth 30% more than your expectations, you may have many more options available to you once sold. 

Today there are many free resources available where you can get a snapshot idea of what your property is worth before you speak to an agent, Rightmove has a tool where you can check land registry for similar properties to yours. 

Choosing your Agent 

Once you have worked out a ball park figure, it is vital you choose the right agent. You shouldn’t have to see more than three, and I would choose three different agents to give you a good idea of who can do what.

Your chosen agent is there to represent your best interest always and they are the property professionals - listen to what they tell you and let them guide you to the best solution.

The best clients I have dealt with over the last 15 years were those who challenged me but also listened and took advice from me when they needed to. 

Top Tip: Remember the lowest fee is not always best value for money.

Realistic pricing 

The market at present is extremely price sensitive with many agents inflating a price to gain business. Over inflation of prices will only limit the footfall through the property and affect the level of interest it receives.

Do remember buyers are not naive, information is readily available online documenting properties that have sold and for what price, so be realistic to get as many people in through the door as possible. 

A good agent should bring a list of comparable properties sold in the area, giving you a realistic picture of what your property might sell for.

Top Tip: Ensure your agent brings comparable properties for what they have sold in your area and for what prices.

Timing 

Spring is usually one of, if not, the busiest times in the housing market. It is the the perfect opportunity to show off anything which adds value to your property with the added benefit of the sunny weather.

Outdoor space, beautiful views and country homes will all benefit from the better weather offering a feel good feeling for prospective buyers. With the spring market offering the most activity, it also gives you the chance of higher footfall – which ultimately leads to more offers.

Top Tip: Spring time offers you the best chance of multiple interest and more offers.

Presentation & Decluttering 

Getting the most out of the sale of your property is a culmination of variables that have to work in your favour but assuming the price is ambitious but within the right bracket then presentation is key.

Clients often ask me if the smell of freshly baked bread along with the strong aromatic smells of coffee being brewed, increases the chances of a sale? I’d love to say yes it probably would, but I am yet to experience that in all my career of selling property!

That said, smell is vitality important - if in doubt ask a friend or a neighbour to be straight with you and let you know if there are any smells that should be dealt with. First impressions count for everything. 

The most important points to consider is keeping the décor and colouring as neutral as possible, not boring but equally not flamboyant either, nothing ruins a small but light and functional kitchen as much as a colouring choice of fluorescent green across the cabinets.

You may have years of accumulated belongings however it is important for prospective buyers to be able to see the space available and visualise their belongings in your home.

This not only will give the feel of a larger space but will also provide better value for money. The last thing you want is for a buyer to be distracted by ornaments and stacks of dusty magazines.

Keep the property as tidy as possible and declutter as much as you can; the chances are, you, like me and everyone else, have too much stuff everywhere, and if maximising space is one of the strategies you are implementing then we have to de-clutter first. 

Whilst I don’t recommend doing DIY work yourself, unless you know what you are doing (basic scratch marks and re-grouting etc), are also important design points that should be dealt with prior to marketing, and you can always hire a handy man for half a day to take care of any last minute improvements.

Top Tip: You can never change a first impression – make it count.

You may have years of accumulated belongings however it is important for prospective buyers to be able to see the space available and visualise their belongings in your home.

Strategy & Tactics

Getting the most value out of your property also comes down to strategy and tactics. In terms of strategy, what are your reasons for selling and can you negotiate less than your perceived asking price?

If you are flexible you may fetch more on the open market provided we have a buyer who needs to move quickly and thus ready to pay a premium for that luxury.

Tactically would you break a chain and go into a rented property for six months to maximise your offers ? Like a competitive game of chess, you’re on the clock and every move has several options, and every option opens up a new scenario.

Don’t be afraid to speak to your agent candidly here, the more they know about your personal situation, the more they will be able to guide the buyers in the right direction.

I once had sale almost fall through over a sofa, both parties were too proud to admit to it, so it came down to experience on my side to identify what the issue was and how we could resolve it. 

Let The Negotiator, negotiate!

This may sound obvious but let the negotiator negotiate and work for you! They are the experts in this area and do this on a daily basis. They will be working to get you the best possible offer from each buyer (subject to you choosing the right agent!) and this process can be lengthy.

Stay patient and make sure you are informed throughout the process.

Be flexible

The market is ever changing, it can react very quickly to external vents that could not be foreseen and perhaps had never been discussed with your appointment agent, so it’s important to make sure you react accordingly.

The majority of homes find their buyer in the first month - if one isn’t found and viewings are drying up you may need to consider lowering your price an expectations, your agent will be able to best advice you here.

Remember as agents we always have your best interest at heart, as no sale means no fee so we are incentivised to make things happen. 

What's your property worth to you?

Finally, this is your home only you know how good it is - you bought it for a reason and purpose. Tell us what that is so we can paint a picture to a buyer who may have been you five years ago.

There are so many important points and factors we should use and be aware of so that we can present your home in the very best light, but only once your agent understands your reasons for selling and appreciates your home will they be able to help you achieve the highest price for it. 

If you would like to discuss any of the points raised in this article, request a valuation or for a friendly chat, contact your local Knight Frank office.