Choosing Estate Agents

Well the house went on the market on the 22nd March – I did pull out all the stops and get it listed before Easter. It was a bit of an anticlimax after the chaos of getting the listing to go live because I didn’t have any viewings over the long weekend, but it was an interesting exercise.

Screen Shot 2016-05-16 at 16.04.41

I decided to take a punt with this house sale and to use an online estate agency – you may have noticed in the picture on the previous post. Having bought and sold before, worked at an estate agents for a short time and being the daughter of someone who is the third generation to run a family owned estate agency, this could have been a controversial move! So I didn’t tell anybody I was doing it. But the numbers stack up – SERIOUSLY.

In the UK estate agents fees are 1-1.5% of sale price and there is VAT added to that, so this is a chunk of money to part with and the previous sale had given me cause to complain about the behaviour of the agent handling my property. I didn’t want to be mucked around or to feel that I had no control, (both of my children are doing major exams this term) so my research instead was of the type of package offered if you took some of the responsibility for the sale yourself.

DSC00459

At the end of the day as a designer I draw plans and take photographs almost every day. It seemed just an inconvenience to have someone else do them for me. I also liked the idea of being able to schedule the viewings according to my commitments, instead of rushing out of the house in the morning and just hoping that everything was looking ok. I work from home, so some rooms are always more lived in than others, I had a house guest (who was with me for eight weeks) and I also have a dog, a very excitable puppy who loves everyone. I needed to be able to have her contained and happy – and I wasn’t sure how she would take to having an agent she didn’t know in her domain.

DSC00498

When I sat back and thought about it, I decided that having a local agency involved could possibly be more stress than I could cope with, so doing some of the work myself and having the property listed on a hosting site was the way I wanted to go. Never having done it before, I was keen to see how it worked. And for someone who does computer drawings almost every day, I was surprised at how much time it took me to do my whole-house floor plan. Who knew!

27 Queensville floorplan no text

And how has it all gone? The house sold itself really. Apart from turning my car into a mobile storage unit (bursting at the seams with laundry baskets and ironing, dog toys, partially eaten Easter eggs, leftover tiles from the kitchen and winter hats and gloves, not quite finished with for the season) I had the place looking as good as it could. I had four viewings in the space of a week and the third viewing made an offer – which I didn’t accept – and then increased to a price closer to what I wanted. So I accepted that. I can’t say that being with an online agency had anything to do with that!

In fact I’m not sure being with an online agency has done anything other than give me more control over the viewings and viewing schedule. I’ve had to chase them for information about my buyers, I’ve had to follow up each conversation with checking the website – as opposed to my ‘dashboard’ – and another phone call to check that things have been done. Considering they sit behind computer screens – the very definition of an online company – I honestly can’t say I’ve felt that they were more efficient than an agency conducting the viewings for me. So, the only real benefit then is the hugely reduced fee? Yep that’s about the size of it. From my experience at any rate.

DSC00468

And this should be something you take into account when you want to choose an estate agent. If you work full time, conducting the viewings yourself will be hard, unless you can opt to work from home on certain days and take some time from that schedule. If you have a young family who need your full attention when you’re at home, then this too will make taking responsibility for the viewings hard work, especially if they have a sleeping pattern that rules out certain times of the day. And you have to keep things looking immaculate (or as close to) because when you take people around your own house, you’re aware of the things they don’t like by what they don’t say. It can feel very personal – if that’s going to make you feel unsettled, then this process isn’t for you.

IMG_2830

I’ll tell you the one thing it has done though, listing my house with an online agency has given me the choice to accept a lower offer than I might have done. That probably sounds counter intuitive, but because the fees are so much lower I’m actually ahead of where I would have been – by about £14,000 – if I’d sold through a local agent. So what it really does is give you more control over the money going into your pocket. That £14K will go a long way to paying my stamp duty on my next property. And as soon as I exchange contracts, I’ll tell you all about it.

Advertisements

Getting your House Ready for Sale

I think I mentioned that I was planning on selling my house this year. Having been through the process before, there is a good time to list and a not so good time. For homes that come into the family bracket as mine does, listing in spring means that anyone who is wanting to move for the new school year in September, has the time to view, offer, instruct solicitors, arrange finance and move in before it’s time to dust off those pencil cases. So my plan was that I would list my property just before Easter. But Easter was early this year and the school holidays started the day before. I had to decide to either pull out all the stops and get my property on the market the week before – and everyone going away would be thinking about their holiday – or I had wait until the beginning of April. What to do, what to do?

tepilo

I wasn’t particularly bothered either way until I saw a property that I actually wanted to buy. How annoying.

So a couple of weeks ago the rear of the house was painted – it never did make it to the same colour as the front and I’ve hated that I’ve lived in a two toned house for so long. Finally the back garden will have the intimate feel that only a dark colour can provide and considering I help people with these choices every day, it is frustrating to say the least, to always be at the back of the queue – because I’m working on someone else’s house.

As you might be able to tell, I had a list! Richard, my builder thinks I’m nuts, that people like to do work to their new homes. But not everyone does, a lot of people are looking for something they can move into and just get on with living in. After all they’ve spent all the money on the purchase! So, because there are things that have annoyed me for a while, there was a list.

ensuite bathroom

Install a towel rad in the top bathroom – a very cold room in the winter.
Re-turf the back lawn.
Change the windows in the loft room – the seal of the double glazing has gone and they’re cloudy to look through.
Oh and I painted the bathroom…

family bathroom

Ok, so you’re wondering why I would bother to go to this trouble when I want to move on. I recently heard of a previous client who had a two bed flat to sell that had been tenanted for about 6 years and the place was looking tired. He had it valued and was disappointed with the price the agent gave him. Then he spoke to Rich and asked how much it would cost to redecorate and replace the carpets. I think he replaced the shower door and fittings as well. The work cost about £4000 and the agent revalued the property at £60K more than the initial quote. That’s a nice increase in value!

rear exterior

The same thing will happen with my house. I know that when the building survey is done they will mention the state of those top windows and that will be a point the purchaser will try to negotiate on – and they’ll want several thousand off the price. To replace them supply and fit will cost about £700. So it is important to look at this as a transaction. I have to spend a bit of money to make a good job of the sale!

wall colour enhances church pew

There are other things that matter too and it’s very hard to be detached when you look over your own home, but you need to see things as someone viewing your property will see them. So when I saw a post on a blog I follow, Mad About the House, I was interested to read her comments. I don’t think she’s gone far enough. Spraying some air freshener round and tidying up don’t in any way make a property aspirational. Because every property is listed online and people can peek in from the comfort of their sofa, the property has to look better than the images. Something that’s supposed to be shiny, has to sparkle; something that’s supposed to be plush, has to be lint free; beds have to be made and cushions plumped up. It’s this level of care that makes a home look loved – and it is that love that brushes off on people as they leave a viewing.

bed cushions

Because of course you want them to come back and to put their money on the line! Surely that money – and let’s be honest, it’s not chickenfeed we’re talking about – is worth you putting a bit of effort in?