Tips to negotiate competitive market

Fewer homes available for sale with multiple buyers circling makes for a competitive housing market – but Lizzie Burt, manager of Portsmouth estate agents Chinneck Shaw, has a number of ideas to help you navigate the current situation.

She says: ‘I love what Rightmove has to say on the subject and couldn’t agree more with the following advice.’ 1. Avoid missing out on viewing your dream home

While getting your property on the market before you buy may feel like a leap of faith, it makes sense.

If you like a property you’ve seen advertised, it’s likely in this market that another buyer in a position to

move forward with the sale will also like it. Many sellers in a busy market will instruct their agent not to complete viewings with buyers who have a property to sell, but are yet to begin marketing themselves. 2. Sellers will take your offer seriously

In a market where there’s a shortage of stock, it’s important to show sellers that you are committed and motivated to move.

Competition to secure the perfect property is fierce. To be considered as a buyer when you finally find your perfect home, you need to be able to proceed. Ideally having your own property under offer, for a bid to even be considered as a potential buyer by many sellers. It’s no good

making an offer you can’t deliver on. 3. Avoid rushing to sell and having to accept a lower offer

When the right property does become available, the clients that have not got prepared for marketing are often the clients that end up offering a very generous price trying to secure the house of their dreams – and then end up rushing into preparing their property as they don’t have time on their hands. This also tends to result in them accepting a lower offer on theirs. 4. Get an accurate budget for your next purchase

With properties achieving record values at the moment, selling first not only puts you in the strongest position to buy, but will also provide you with an accurate budget for what you can afford to buy next.

If a customer sets out with £350,000 in their mind and achieves £375,000 for their property, they now have £25,000 more to spend. The extra money can really open up more property for them to look at. 5. There’s everything to gain

If the scenario arises where you have an acceptable offer on your sale, but are yet to find a property yourself, your estate agent can help.

It is your agent’s task to manage your buyers’ expectations around timings, reassure on your seriousness, begin the conveyancing process and encourage patience.