Ready for a compromise?
It may not be what you want to hear but there is ALWAYS a compromise of sorts when you select your next home, if I had a pound for every prospective buyer I’ve heard say ‘If only we had xx more pounds…’ I’d be a very wealthy woman! Statistics show that whether humble or grand, buyers tend to purchase properties priced towards the top of their financial capabilities, and generally aspire to just a little more – regardless of budget! It’s human nature.
So when searching for a home it’s imperative to identify the ‘absolute-must-haves’, and set them aside from ‘would be nice’ or ‘in an ideal world’ – and even more importantly (if buying as a couple/family) – to agree on the must-haves, as best you can. This can save a lot of wasted appointments, time and emotions along the way. Furthermore, ask the agent all of the important questions BEFORE making the appointment, digital communications are so refined nowadays and life’s pace is so fast it’s easy to forget that the agent can be an important resource. I lost count of the number of people I can recall meeting at one particular idyllic character home, many having travelled for some time, to hear them say “well of course if it wasn’t on a main road we’d have bought this”. If the road element is a non-compromise factor – this person will NEVER buy this house!
Equally though, this is where the compromise factor can come in. Take an incredible home on a very busy road, priced accordingly. Add a buyer who is perhaps hard of hearing/moving from an even busier location/has an eye on the ‘end-game’ of us all driving electric cars, this equals a good deal for them – chances are they are considering a property which would be well out of their budget if air-lifted to a different location. 9/10 this is where a sale is achieved.
Within this there are two crucial factors – the first, understanding the buyers needs, motivation and where compromises can be made. The second, educating the seller about the possible short-comings of their home.
That’s the tricky bit. Generally a seller will invite 2-3 (perhaps more) agents to value their home; the expected standard of service, valuation figure and terms of business will no doubt vary – as will how a seller connects with the agent. But will they all be candid when evaluating the pros and cons of your home?
Ours homes tend to be our biggest asset, and generally something we are emotionally attached to. Therefore it stands to reason that it’s incredibly hard for an agent to objectively assess this asset while at the same time trying to ‘win’ our business. It’s a balance. Yes, you want to have the most enthusiastic agent represent you, but if this means at an unrealistic price which will damage the marketing of your home in the longer term, often resulting in a lower sale price being achieve – is this a better choice than a realistic agent who acknowledges (and can sell) your property’s benefits and compromises?
This is where the value of our ‘Marketing Review’ service comes in. Yes, we’d love your business on the right terms – but in the meantime you are employing our experience, industry and local knowledge to best understand your chance of selling your home in the current market.
Estate Agency should be a genuine two way relationship, too often corporate agents treat the service as a numbers game whereby if you accrue, and throw enough mud a sufficient amount will eventually stick. By employing an independent, local and highly experienced professional to evaluate and sell your home, you are guaranteed to be treated as an individual rather than a number, and the personal service you receive will reflect this accordingly.
Call us today for an informal conversation 01453 860980.