Should I Sell or Find First?

This is a question commonly asked of estate agents. Our advice remains almost constant – find a buyer before finding the house of your dreams. To do otherwise nearly always results in disappointment. Unfortunately most sellers will be unwilling to take their house off the market until you have secured a sale, which could result in you missing out.

It makes sense to first establish what you can afford, and that the accommodation you require is available within your price range. Check the internet, local newspapers and speak to estate agents in your preferred area of purchase. If it looks encouraging, get your house on the market.

Which Agent Should I Instruct?

There are over 30 estate agencies selling property in the Woking area.  When the time comes to sell your home how do you choose which one to appoint?

A good starting point is to find an agent who clearly understands the stresses involved in moving and who accepts that you are likely to want to sell your home quickly, with minimal hassle and at the best figure the market will pay.

• Local expertise:  Buyers prefer to work with local experts whom they regard as “in the know”, so choose a well-established local agent that really knows the area, rather than a corporate national chain with token representation in the area
  

• Valuation:  Beware!  Some agents deliberately over-value in order to impress you to secure your instruction.  They subsequently put pressure on you to reduce your price when the property fails to sell.  Conversely, there are agents who will deliberately under-value your home in order to secure a fast commission.  Whilst you are likely to achieve a quick sale, you may well be considerably worse off than if you had appointed an agent with a realistic valuation policy.
  
  The issue of correct valuation is paramount. If your property is too expensive, it is likely to take longer to sell, and will possibly go stale on the market, resulting in a sale at a price that is less than you might have received had the property been correctly valued initially.  Lots of stress and less in your pocket! 
  
  Buyers buy by comparison.  If your property is too expensive, it will be compared with “better” homes being offered at the same figure.  It will also be compared with properties offering similar accommodation to yours for a lower price.  Either way, your house is unlikely to sell for as long as these better-value alternatives exist.  
  
  It is therefore critical that you appoint an agent who quotes a realistic figure in relation to properties that have actually been sold, preferably by them, and one who also has a working knowledge of current buyer activity in the area.  
  

• Commission:  Because some sellers are unaware of the differences between agencies, they have no alternative than to decide whom to appoint on the level of commission charged.  This is often a huge mistake and is a bit like buying a car purely on price considerations.  All cars go from A to B, but the vast price differential is related to issues of quality, reliability and the whole driving experience.
  
  The same is true of estate agents.  Some “cheap” agents simply cannot afford to provide a level of service that is either effective or makes the selling experience hassle-free.  For example, they are often the last firms to provide adequate staff training, post-offer support or weekend cover, resulting in missed offers and lower prices.
  
  If an agent cannot defend his own fee income, how likely is he to defend your asking price?  The net amount in your pocket is surely more important than the percentage fees charged by any particular agent and, as with anything, you tend to get what you pay for.  
  

• Enthusiasm:  If an agent is not enthusiastic about your property – do not instruct them.  A positive approach to selling your home is essential if buyers are to be inspired into buying your home.  
  

• Advertising:  Make sure you choose an agent who extensively advertises properties similar to yours in the local press.  Chances are that that agent will already have a large pool of buyers who enquired about other homes that are comparable to yours.  
  

• Internet:  The internet is a valuable tool for the modern estate agent, but do not be impressed by any “hit” claims.  All web-enabled agents are exposed to many buyers but how well do they qualify those buyers when it comes to discussing your home?  It is very easy for a “buyer” to register a passing interest.  It takes a well-trained agent to identify those buyers who have a serious and pressing need to move.  Find out how easy it is for buyers to use the agent’s property search facility by visiting their website yourself.  Try typing “Houses in Woking” into the major search engines and make sure the agent appears within the first two pages.  
  

• Viewings:  Does the agent accompany all viewings?  What about evenings and weekends?  It is incredible that so few estate agents provide accompanied viewings.  Apart from the obvious security issues, only when agents accompany buyers around a property can they probe, listen and understand what the buyer really wants.  Agents who develop a picture of the buyers’ preferences, in addition to those few key ones that were registered, tend to have a much higher viewing/sale ratio and do not frustrate their clients with unsuitable viewers.  Our policy is to accompany all buyers around a property wherever possible.  
  

• Independence:  Some agencies are owned and managed by large financial institutions that make more money from selling mortgages than they do selling properties.  This may not be obvious from the name of the agency, but check out who owns them before making a decision to appoint them.  We are 100% independently owned, and our focus is on the sale of our client’s property, although we can help with finance in order to smooth your sale.  
  

• Sole Agency:  Beware of agents who try to lock you into long sole agency agreements.  You may get stuck with an agent who has lost interest in your sale.  
  

• After-sales Service:  Some agents think the sale is done when a buyer is found, and many a sale has been lost due to poor follow-up or inadequate liaison with surveyors or solicitors.  Choose an agent that sees the sale right through to exchange and completion.  
  

• The Directors:  Choose an agent that is owned and run by qualified property professionals who are interested in your sale, rather than people who are simply employed to build an empire.  Could you get hold of the MD if you needed to?  Lynch & Company is personally run by its managing director, Tony Lynch.  His phone number is 01483 751000.  
  

• Communication:  Too many agencies only communicate good news!  That’s easy!  Good agents are in regular contact with their clients and can advise the vendor or a buyer’s response following each viewing.  They also have the guts to advise you when improvements should be made in order to improve your chances of selling at the highest price.

Ultimately, you are best served by choosing a locally based agent who holds values similar to your own.  One who has time to listen, one who understands your needs and concerns, one who can offer real, straight-talking advice and one who takes pride in his/her integrity combined with a passion for results.

Needless to say, Lynch & Company not only fulfils, but also goes beyond many of the recommendations outlined in the above.  You owe it to yourself to make the right choice.  So when the time comes to sell, choose wisely.  Choose Lynch & Company.

How Should I Present my Home

• Quote a realistic asking price from day one, rather than an inflated one that is subsequently reduced.
  

• Ensure your agent has access to the property at all reasonable times.
  

• Ensure your agent knows exactly which fixtures and fittings will be sold with the property, and which will be removed.
  

• Freshen up your property with a lick of paint.  However, do paint entire walls, not just covering over the marks, as a quick “touch-up” job will look just that.  The front door is particularly important, as first impressions count.
  

• Freshly cleaned carpets look superb.
  

• If your garden is looking scruffy, a couple of days work for a gardener can make a big difference and is relatively inexpensive.
  

• Overcrowded rooms appear smaller than they are, so try to remove any unnecessary clutter.
  

• Likewise, make sure there are not too many things hanging on the backs of doors.  This prevents them from opening fully as you walk in, again giving the impression that the room is smaller than it is.
  

• Avoid accompanying your agent around the house with a buyer.  The professional agent is trained in buyer psychology and in overcoming objections, and can show the house to maximum effect.  It will also look less crowded.  Buyers are also more likely to comment freely out of earshot of the vendor.
  

•  It is essential to keep all pets and children, however sweet they may be, well out of the way during a viewing.
  

• Any significant faults with the property should be either fully repaired or pointed out to the agent early on.
  

• Never allow a buyer to return to the property without your agent.Many a sale has unwittingly been lost by a vendor who simply does not have the training to negotiate the best terms.

We hope you have found the above informative and interesting, however we would be delighted to meet you in person