Despite the continued political uncertantity surrounding Brexit and the inevitable caution this has created in the housing market we are delighted to report people still need homes to live in!
Admittedly its not as busy as the pre Brexit years, but arguably we were coming to the top of a very steep upwards tradjectory in house prices anyway. The market needed to take a breath. End result is we are for the frist time in many a year back to a more normal market. If you are selling this means your house might not necessarily sell overnight and you might have to be realistic in your expectations. If you are buying ironically there is not necessarily more property to choose from, but you are less likely to find everything is selling overnight. You have time to consider your options and make sensible decisions.
From an agents perspective we are conducting less viewings but those prospective buyers out there appear to be genuinely keen to buy rather than just dipping a toe in the water. The skill and experience of an agent is far more important in todays market. We have to price accurately, implement a sensible marketing strategy and provide high quality presentation of the property on the numerous advertsing platforms. We have always maintained agency is a people business, in a slower market that personal interaction and guidance becomes more important to ensuring a property secures a buyer.
Our keys tips for anyone thinking of selling this year.
1) Ensure your marketing price is accurate. A good agent will be able to provide sound comparable evidence on price. Whilst tempting to go with the agent who 'thinks' they can get another 30k the number of price reductions on Rightmove etc suggest it is time to be realistic. Remember the longer it sits on the market the lower the interaction with prospective buyers and the risk it is becomes 'stale' to market.
2) Agree a marketing strategy with your agent and stick to it. An experienced agent will be able to suggest a strategy based on your objectives.
3) In a slower market ensure your property stands out. Money spent on professional photography works! A cheap agent with an iphone is not going to make your property shine! Make the effort to ensure it is as attractive as possible (have a look at our kerb appeal article for inspiration).
4) How experienced is your agent? They will be negotiationg the price of your most valuable asset in a tougher market. Are they skilled/experienced enough to handle it?
5) Be Sensible. The best buyers are often the first to view. Dont be dismissive of sensible offers in the first weeks.
6) Listen to your agent and the feedback from viewings. We are here to work on your side and sometimes have to have the hard conversations with you.
The market is unlikely to have a massive correction in terms of price. Homes are in demand and we are simply not building enough new ones to keep up with demand. Bristol is also a thriving city and great place to live! Having said that we dont envisage prices shooting up in the near future so if you are planning on moving now is probably one of the best times to do it in recent times.