Seeing how house selling industry works from the inside
I AM selling my house and it is proving a useful reminder from the other side of the fence of the trials and tribulations our clients have to go through on a daily basis.
Here is a five-point synopsis of our moving story so far and I am sure it will strike a chord with many of you.
So, the decision is made and I have invited one or two of my competitors to give their dispassionate views on the property, which I know will prove useful.
I get a variety of opinions, some I agree with and some I don’t agree with but it is interesting to hear the different styles and approach to the whole valuation question.
However, like most owners I have my own opinions as well.
Now, I know it is all a question of presentation and preparation but being my own house doctor has proved to be an interesting exercise in selfdiscipline and tidiness, and yes, all those television programmes do actually make a lot of sense when you think about it. First impressions really count. The photographer comes around, we like some of the photographs, and we don’t like others. Has he got quite the right angle, should he come back again. I ask some colleagues and I am reminded that I am too close to the property and so I let the professionals make the choice. Others draft the sale particulars, and I quite like the wording. But have they said enough, have they said too little? A picture does say a thousand words, I am reminded.
So, we have launched the house to the web and there is the initial burst of inquiry, cars drive past slowly, or are people just being nosey? The advertisements appear in the Press and viewings start. Oh my God, people actually do want to look around the house and so we madly chase around to ensure it looks pristine.
The first couple make all the right noises but then the office get feedback on the viewing and it’s all rather disappointing.
The second couple love the layout as it suits their family requirements and they might be interested, but they have yet to sell their own house. How frustrating. But in all honesty should I expect anything else?
We then have viewings three and four, with one couple openly admitting they are looking at 10 houses in one day. Do they really know what they are looking for?
We have not had an early offer yet but it is only the end of the second week, so the reflection and analysis starts. Is there anything wrong with the house? What can we do to change things around? Colleagues tell me to be patient. It is a great house, of course, why would anybody not like it?
So, I must bow to the experts’ opinion and accept the psychology behind why people buy and sell houses It’s what I have been advocating for years but it is always harsh to take one’s own medicine.
Now we have a bit of bad weather and viewings have slowed but then I know other houses have viewings taking place. Why is this? We have had another inquiry, and yes, they want to view. So it’s all set up for this weekend and time will tell. The team research the interested party and all the signs are positive. Now the waiting begins...again.
So what is the moral from these everyday experiences? After only two months I am finding it an interesting exercise in patience and analysis. There is always a reason for everything. Is it the market or is it a question that one has to be realistic on price? I am considering a price reduction, yet will it make any difference? It should do but would a price cut be misinterpreted after such a short period of time. It is all a question of being logical, keeping ones nerve, self-belief and I suppose, at its simplest, accepting that a property is only worth what someone is prepared to pay.
I might tell you the next part of the story in a few weeks’ time.