The Process of Selling a House in the Current Market
We thought it would be interesting to look at how Chartsedge places a property on the market, from the initial meeting with the client going forward to launch and then first viewings.
We shall take one of our recent properties in Mount View Terrace in the heart of Totnes as an example. This is a period 3 bedroom end of terrace home with both front and rear gardens, a summer house (home office) and with a residents parking permit.
We went to meet our clients in late January 2022 and once we had thoroughly inspected the house and asked relevant questions about planning and building regulations, (as they had extended the property) we then went back to the office. Once there we discussed the house, the current state of the market and considered both what we and other agents had sold recently. We then considered our database of buyers and to whom it would appeal. Not surprisingly there was quite a number!
After this analysis we wrote to the owners with our bespoke marketing proposals and indication of price for the property. This was followed up with a phone call to talk through the marketing process and make sure that they had everything they needed from us. From this conversation we were informed they would not consider bringing the property to the market until later in Spring, and that a sale could not complete until end of July due to school exams.
We received a phone call in mid April to tell us we had won the instruction and they also questioned the asking price we had quoted as it was higher than many other agents. We confirmed our view on value and were duly instructed. Once we had received signed terms and proof of ID, (which is necessary for Money Laundering Regulations), we instructed our floor plan company and arranged for plans to be created and photographs to be taken. We revisited the house to film a video as this is something we do as part of our marketing as we find it incredibly useful when talking to buyers. Once we had collated all the information and edited the video we drew up a draft brochure which then was checked over by the vendors in order that they could check the wording and details, and that they were happy with the photos etc.
In the current market we now always ask our clients when a convenient viewing day will be possible, as we find that having as many appointments on one day causes less disturbance to our clients, and it also focuses the mind of potential buyers when they view, which all helps to achieve the best result for our client.
By using Social Media we are able to promote the house as “Coming Soon” on Instagram and Facebook and we find that this creates an excitement about the property before it comes to the market formally. The property was then launched onto the Chartsedge website and we contacted our qualified database of buyers to whom we felt it might be suitable. It didn’t take long to realise that we were going to be very busy on the viewing day! After this the property was advertised on On the Market and Rightmove where we created 6,000 hits which means this amount of people looked at the property details, which is incredible and shows how hot the Totnes market is at the moment. We then spent the week fielding calls from prospective purchasers.
With a viewing day it is difficult for some potential buyers to make a specific day due to work or personal commitments, so we allow an element of flexibility and showed 4 buyers outside the viewing day. The viewing day consisted of timed viewing of 30 minutes each to enable buyers to have enough time to get a good feel for the property.
During the appointments both Caroline and I were able to talk frankly with the potential purchasers and really ascertain their thoughts on the property. People are much more likely to be up front and honest to an agent when the owners are not present. We informed all parties that they should make offers by 5pm the following day with details of proof of funds and their buying position. We do not ask potential buyers to make an offer on the day of viewing as, from experience, we like them to go away and think about it as offers made in the heat of the moment often come to nothing.
Reporting to client
After all the viewings an email was sent to the client giving feedback for all the viewings we had carried out indicating who was interested and those that were not and their reasons. The following day we received offers from a number of parties and we presented these to our client in writing.
The client, with our advice, accepted an offer from someone in a good position that could fit in with their time frame. Within a week of being launched we are now in the process of moving things forward, having obtained solicitors details from both parties and sending out the Memorandum of Sale with all the relevant details in order to start the legal process.
So now the work really begins, chasing Solicitors, Local Authority Searches, Surveyors, Valuers, …………… the list goes on. But most importantly it is a very exciting time for both vendor and purchaser, and we are here to help them as much as we can every step of the way.
Please contact us on email@example.com or 01803 505115 to have a no obligation chat about marketing your home.
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