It is important to remember that there are usually two sides to activities and occurrences in the property market. While there is relative information for sellers, it is helpful for sellers to know what buyers are doing or looking for, and the converse is true too. There is a lot to be said for being aware of what your potential client or vendor is thinking or looking for, and there is information that buyers and sellers need to know.
In the UK, there are several people who are synonymous with the property market. These people have achieved this position through appearances on TV shows and Phil Spencer is one of the best-known names. This means when someone like Phil Spencer talks about the property market, people should listen. In spring of 2018, Spencer offered a list of aspects that prospective buyers should be aware of or know before they make an offer on a property. It therefore makes sense that sellers should be aware of these aspects too because if they can provide buyers with what they are looking for, they will increase their chances of making a sale.
The aspects listed by Spencer include:
These are the key points of information that buyers are advised to look for. If you are a seller, you should be motivated to compile this information and be ready to provide it to prospective buyers. If some of these aspects are favourable, say your home was in the catchment area of a well-regarded school or you have an appealing crime rate, it makes sense to inform prospective buyers.
You may think that if your home ranks poorly with some reasons you are advised to ignore it but in the long run, the buyer is likely to do their research and find problems. You are therefore advised to be proactive, admit that there are some problems but then provide justification or other positive stories of the local area.
As a seller, if you can save buyers time, provide them with value, talk honestly about a property and make a compelling argument as to why the home is a good option for prospective buyers, you will be far better placed to achieve a sale. The property market is hugely competitive, even for sellers, and it makes sense to be proactive to improve your chances of success in the market.
Selling a home is much like selling any product or service. If you know what your prospective customers are looking for, and you can provide them with the things they are looking for or consider valuable, you will be considered as a sensible option in your area. At Griffin Residential, we think that buyers and sellers should be fully informed about the market and what the people you are going to engage with are looking for. If you would like to learn more about how we can help you in the property market, please get in touch and we look forward to helping you out.