Posted on January 9, 2023 by Tom Grant
Categorised in: Uncategorised
Tom Grant looks at what it takes to make sales happen in the property market this New Year, because wishing is no longer enough.
This time last year Russia hadn’t set foot on Ukrainian soil, the chickens were still to come home to roost for Boris Johnson, we had hardly heard of Liz Truss and were barely out from Covid restrictions: nor had interest rates reached a 14-year high or the nurses, train drivers, postal workers, etc., embarked on strike action. Also, the property market was only showing tentative signs of cooling.
It is difficult to imagine now how the property sector could not have been greatly affected by all that has happened at home and abroad during 2022. Yet despite all the political and economic turmoil, the property market is still active. If anything, the market has reached a more normal level of activity. It’s just that most activity is now down to the doers and not the wait-and-seers.
There are two ways to sell property - The first is to let it happen. That’s been fine over the last two years when all many had to do was to open the door to lots of viewers, and then bask in the flood of cash offers that ensued.
The second way to sell a house is to make it happen. With the market turning in favour of buyers, sellers can’t just sit back; they have to take the initiative. So, as well as location, location, location being a strong buying feature we must add price, price, price and condition, condition, condition.
Just as the recent seasonal festivities wouldn’t happen without people taking control and putting up decorations and cooking meals, a property won’t sell without some effort from sellers to prepare it for the market. If that means setting a competitive asking price and keeping a welcoming exterior and neat and spotless interior, then so be it.
Good estate agents are doers by nature, training and experience. But they can’t do it alone, they need their clients’ support and agreement. This teamwork is essential to make sale happen. To make things happen in the property market in 2023, don’t be a wisher be a doer.
We wish all our clients and friends a very positive and happy New Year.
