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Keep buyers engaged and stick to your asking price

March 7, 2022

As experienced estate agents, we pride ourselves on providing realistic and achievable valuations that take into account local demand, the wider property market and the circumstances of our clients.

Despite our accuracy, what we can’t control are the offers potential purchasers will make. Please don’t be offended at the price some people suggest as it’s almost an unwritten rule that a buyer’s opening gambit can be well below the advertised price. 

We are actually obliged by law to pass on, in writing, all offers that are made on your property within 24 hours. If you’d rather not see a raft of ‘cheeky’ offers from speculative chancers, we can write it into your terms and conditions that we should only pass on offers that are above a pre-agreed value.

Sometimes there is a niggling discrepancy between the asking price and the submitted figures but don’t fret. We are adept at weeding out the time wasters from the buyers who have the potential to make the best offers. We also have the following advice:

Hold your nerve

You may be excited to receive an offer on your property – and perhaps even feel pressured to accept it – but in a good market such as we’re experiencing now, there should be multiple offers. With the support of our skilled negotiators, you can agree the very best offer for your personal circumstances.

Our team will balance all the buyers who are interested in your property with the feedback from viewings and the likelihood of a bidding war. Low offers can quickly be upgraded if there’s competition and we’ll minimise the risk of losing a sale.

Extras extras….read all about it

While intrinsic value lies with bricks and mortar, what’s inside your home can also help achieve your asking price. As the seller, you’re entitled to take as many fittings, fixtures and items inside your home with you as you like, leaving the new owner to replace whatever you remove. 

While we don’t suggest stripping your property bare, the cost of white goods, curtains, accessories and freestanding furniture soon adds up. It may be that you can strike a deal with a buyer, asking them to offer as close to the asking price as possible in return for leaving high-value or convenient items behind. Don’t forget to confirm any such arrangement using the legally-binding TA10 contents and fixtures form.

Plan ahead for project-hunters

Many buyers are looking for a project but they’ll place more value on a home they know they can definitely alter, rather than make an offer on a property where the potential to remodel, extend or convert is unclear. 

Listing your home with ‘planning permission granted’ is a winner. It can cost as little as £206 to submit a full planning permission application for alterations/extensions to a single dwelling house or a flat but it could add as much as 10% to your home’s value. Commission an artist’s impression or computer generated image of what’s possible for extra appeal. 

Offer valuable assets that aren’t tangible

If your asking price is non-negotiable but you need some stimulus that will keep buyers engaged and interested, you may have to think more laterally. Buyers can be encouraged to make their best offer when sellers present a set of favourable moving conditions. 

If sellers can make themselves the top of the chain – perhaps by moving into rented accommodation – value can be added by simplifying the transaction. If you can be flexible on the completion date, you’ll also find favour. Even committing to a really quick exchange will give you leverage when negotiating on the asking price. 

Sort survey setbacks

It’s a common situation: the survey is back and it reveals a few issues that will cost money to rectify. The buyer has obtained quotes for the works and wants to knock the equivalent amount off of their offer. 

Sounds fair but we understand many sellers need to achieve a predetermined sales price in order to fund their next step. When the asking price, personal circumstances and finances are intertwined, it can be advantageous for the seller to get the work done themselves so the offer price remains unchanged.

Contact us to start your sale

When the asking price really matters, we will create an achievable valuation, prequalify buyers so only the most genuine proceed and help you through the negotiations process. Get in touch for more advice.

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