If Wishes Were Sales, Sellers Would Move

Richard Ashton of Allan Morris looks at what it takes to make things 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 2023.

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 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 has been fine over the past few years when all many had to do was to open the door to lots of open-house viewers and then bask in the flood of cash offers that ensued.

The second way to sell a house is to make it happen. Now that the market has turned in favour of buyers, sellers can’t sit back; they have to take the initiative. So, to location, location, location as 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 get things done. 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, healthy, and happy New Year.

Feel free to reach out to our team, who are always more than happy to help. Simply contact us by phone on 01684 561411 or send us an email at malvern@allan-morris.co.uk and we’ll get straight back to you.

Market Update – December 2022

Well as we enter the last month of the year, everything feels very different from the first month. The cost of living has risen rapidly, stretching domestic finances with rises to fuel costs and hikes to available mortgage rates. This has led to a property market beginning to favour buyers. Despite there being fewer houses for sale still, buyers are now beginning to have a choice, and so it is more important now that sellers maximise their return some simple and cost effective actions.

To add more value the first thing you need to do is to find more room. So, make some more room. Declutter. Everything you don’t need in your home that isn’t beautiful, useful, loved or valuable is hiding extra space from potential buyers. Putting it another way, everything you take out in a pre-marketing declutter can make your property more attractive to a purchaser. Take those trips to the charity shops, the local recycling centres, or get busy on ebay or facebook marketplace. Every item removed leaves more space on show.

Now for the harder work, but it still won’t cost you earth. This is about pots of paint, sandpaper and Mr Muscle! Any little maintenance jobs that need doing, do. If you stay on top of the little jobs, buyers will not worry about needing to do work on the day they move in. Clean your house as if the new King were coming for tea. Clean all of it, especially the kitchen and bathroom. Clean and polish your property as if achieving the best price depends on it – because it does.

It will take a week or two to do all this properly, but it will be worth it.

Once that’s finished, if you have a friend who is good with interiors invite them around and pick their brains. Don’t be embarrassed; an amateur interior designer likes nothing more than primping someone else’s cushions. Your property has become an asset in which you happen to live. Choose a highly experienced estate agent, we certainly are also delighted to make some buyer-friendly suggestions. You want to get the best price, so listen to good advice.

Now take a look at your freshly polished home. If you are so thrilled that you think it looks like it belongs to someone else or you are tempted not to sell at all but stay put, then you know you have done a great job and that viewers too, will be impressed.

We are often asked whether adding a loft extension, build a fabulous rear room with bi-fold doors to the garden, re-fit the kitchen and bathroom, engaging a firm of professional cleaners or hire stagers would help increase value, and they would but at what cost. Self-cleaning and de-cluttering is always the most cost-effective way to get more for the value of your property.

The market will be different in the New Year. There will be more houses and flats coming onto the market, and your home will be lining up in a competitive race to the completion line. However with a bit of effort, and a lot of elbow grease, you’ll stand the best chance of winning.

Feel free to reach out to our team, who are always more than happy to help. Simply contact us by phone on 01684 561411 or send us an email at malvern@allan-morris.co.uk and we’ll get straight back to you.

Our Market Update

Richard, our Director examines the conflicting forces that are affecting the property market in the run up to Christmas.

The property market is changing. Bearing in mind the media coverage, this can hardly come as a surprise to anyone. There are also so many other things in our lives that are changing almost on a daily basis; the Prime Minister, government policies, mortgage interest rates, the cost of living, and public and commercial confidence in the economy and the future affect on the costs of living.

How is all this change affecting the property market?

The truth is, less than one might think. Most evidence seems to point to a swing, from a strong sellers’ market to a moderate buyers’ market. Moderate because there are still powerful but sometimes opposing forces are at work. The key is still low numbers of properties on the market, and this is the main factor which is keeping house prices reasonably buoyant. This lack of choice could well be the economy at work, but with Christmas also on the horizon, it is also influenced by the time of year. So, we won’t have a more accurate picture of what is happening until the New Year.
 
We expect fewer sales to fall-through over the next few months. Active buyers want to keep hold of their current mortgage offers and see through purchases rather than risk re-applying at higher interest rates. But, over time, higher interest rates will become the norm and bring new pressures for most, including many thousands of homeowners coming off fixed-rate mortgages over the coming year. But we should remember that interest rates are still below the thirty-year average.

The energy crisis might encourage some homeowners to lower costs by downsizing, thereby bringing larger properties onto the market. But many first-time buyers will have to wait longer until they have enough money to afford higher mortgage costs, so this could create a log-jam further up the property ladder.
 
All in all, it’s a bit of a mess. The property sector and housing generally need stability. Frustratingly, we have had a different Housing Minister nearly every year since the start of this century and five in the past two years. So, for a start, our new Prime Minister could try and keep a housing minister in place for the next forty-eight months.
 
Yet, despite all this, buyers are still buying and sellers are still selling. Life continues, and the property market is undoubtedly functioning as it should under these circumstances. Why? Because our homes are so important to us, especially in troubled times, they keep us warm and safe. Developers build with materials, but it’s the life we live within them building memories than make them homes.

After all, this beautiful, funny, proud, eccentric, bickering, gloriously diverse and wonderful kingdom is still a fabulous place in which to buy a property.

Feel free to reach out to our team, who are always more than happy to help. Simply contact us by phone on 01684 561411 or send us an email at malvern@allan-morris.co.uk and we’ll get straight back to you.

8 Ways to Work with your Estate Agent for the Best Results

So, you’ve picked out your estate agent to help sell your home, but what’s the next step? While for the most part the baton is now with the agent, who’s responsible for keeping the progress of the sale on track, there are still some things you can do to achieve the very best desired outcome when selling your house.

Try looking at it this way: you and your estate agent are now a team. You’re on the same side and are both equally motivated to secure the right sale. In light of that, it’s best to make sure you’re aligned on exactly what you want to achieve over the next weeks or months.

Still not sure where you stand or what your next steps should be? Not to worry, we understand! That’s why we’ve collated 8 useful pointers which take you from that initial estate agent meeting through to obtaining the right offer.

1. Be clear on your timeline

Before you do anything else, make sure you and your agent are aligned on your expectations from the outset. Ask questions and iron out any queries you have, as well as giving an indication of how quickly you’re looking to move – whether you’re aiming for a specific timeframe or you’re happy to hold on a little longer for a more generous buyer. This will really help your agent organise and prioritise your requirements.

2. Stay updated

Working with your estate agent requires communication on both parts, so keeping in close contact is paramount. Let your agent know how regularly you’d like to be updated on the sale’s progress along the way. For consistent, general updates, we suggest every seven to ten days, but we also recommend aiming for a couple of days after every viewing to gather the potential buyer’s feedback.

3. Act on feedback

Potential buyers tend to be honest and forthcoming with their opinions on a house, especially after a viewing. So, while there will be positive feedback, there may also be some criticism. If this happens, try not to be disheartened and instead let your estate agent know that you’re open to all kinds of feedback so you can use it to your advantage. You may notice common themes in the feedback you receive, which will help you decipher what you can do to improve your home for the next viewing. For instance, the buyer may suggest that the décor is a little tired or that certain areas need some TLC. Be prepared to dedicate some time to these updates, potentially with a fresh lick of paint or a weekend of DIY fixing – you can rest assured that it will make all the difference on your next viewing.

4. Decide on a marketing strategy

Give your estate agent a steer when it comes to where you want your home to be advertised to potential buyers. You’ll likely want a ‘for sale’ sign up, but aside from that, decide on whether you want your house advertised in the local press and stipulate how many times you want it to be shown if so. Give an indication of approximately how long you’d like your house to appear in the estate agent’s window and provide some direction as to which online portals you want to see your home shown on.

5. Approve the marketing

Your agent will likely have a list of marketing details for you to approve, all of which should highlight the qualities your home has to offer. They will be used to market your house and will likely be the first place potential buyers will read about your home. So, while the estate agent will have thoroughly checked through this information, you also want to make sure nothing has been missed in the description.

6. Showcase your home’s best angles

Alongside the marketing description, the images of your house should be a top priority, too. To help the photographer capture the best shots possible, try to give your home a thorough tidy before they arrive, move the likes of bins and parked vehicles out of shot for the day, and if you can, switch on accent and mood lighting to create an ambient atmosphere.

Once the house is in shape, add a few stylish touches with fresh flower bouquets in vases, and complete the dining table with your favourite place settings – this will really enhance the lifestyle photography and give viewers a chance to envisage themselves in the space. Try to maintain this look for viewings so potential buyers can fall in love with your home on their visit, too.

7. Try to be flexible with house viewings

Of course, the more viewings your estate agent can book in, the more offers you’re likely to get. It’s a well-known fact that weekends are when most people are free to view a property, and it gives potential buyers enough time to mull over what they’ve seen and make an offer on Monday morning. Viewers are also more likely to be looking at several houses over a weekend with the aim of making an instant comparison, so it’s best that your home is scheduled in at this time too rather than on a weekday, where it may not remain fresh in their mind.

8. Carefully consider your offers

Lastly, remember that most of the offers you get will be negotiable, even on occasions when they might seem a little low. Usually, most buyers will get in touch again with a better counteroffer if the first is politely declined, so try not to be too quick to dismiss an offer from a potentially committed buyer.

Do you want to know more about how you and your estate agent can work together? Or do you have general questions about marketing your home? Either way, feel free to reach out to our team, who are always more than happy to help. Simply contact us by phone on 01684 561411 or send us an email at malvern@allan-morris.co.uk and we’ll get straight back to you.

How to use creative photography

To market your high-value home

Nine times out of ten, where is the first place a potential buyer will see your home? You guessed it – in a photograph! Whether it be online through a laptop screen or mobile phone, or on the street in an estate agent’s shop window, that small viewing frame should be treated as the place to showcase all the best angles of your home and have people longing for the lifestyle they see at the end of the lens.

This, of course, applies to any house marketing photography. But with a high-value home, that features plenty of space and unique aspects, going above and beyond standard imagery will really set your house apart. And that’s where our expertise is on hand to help!

Differentiating your house from the rest of the market with creative and considered expert photography is our speciality. So, we’ve collated our best ideas for how to showcase your home in – quite literally – the best light!

Prep the space 

Any professional photographer knows that before the shutter clicks, there’s an element of house preparation required – and this involves a little help from the homeowner. So, to provide the photographer with a clean slate on which to work their magic, make sure the house is spick and span, both inside and out. In your outdoor area, clear any vehicles and bins out of shot for the day, use a bit of elbow grease on the windows to get them sparkling, and make sure the lawn is mowed and any weeds are removed.

Next, turn your attention to the inside of your house. After tidying the rooms, consider giving lacklustre walls and any worn-out furniture a fresh lick of paint. Studies show that decorating can make all the difference in the eyes of a potential buyer and will add up to 5% more to your home’s value. This is definitely something that a top-quality camera will highlight on screen too, so you can be sure it’s well worth going that extra mile.

Set the scene

Subtle styling and expert photography go hand in hand, especially when it comes to lifestyle imagery. Considered style choices will help to establish that emotional connection between the house and a potential buyer, enabling a thoughtfully framed lifestyle shot to provide a welcoming feel and give people a chance to truly envisage themselves in the space.

So, once the house is prepped, you and the photographer can work together to add a few stylish touches to really give your home a lived-in – but carefully curated – look. Bring colour to the kitchen with fruit-filled bowls, set the dining table with your best crockery, hang fresh neatly folded towels in the bathroom, place fresh blooms in coordinating vases onto sideboards, and cosy up the bedroom with luxurious woven throws and scatter cushions. These style-savvy touches will highlight the real potential of your home in imagery and give it a well-loved feel. For outdoor specific styling advice, visit our garden blog.

Get the light right

Cold or clinical lighting is something to avoid when it comes to home photography, especially with a sizeable one that might look unwelcoming as a result. So, making sure the mood of the rooms are set to warm and inviting is key. This atmosphere can be achieved with photos taken on a dry day at around dusk to cast a naturally soft and calming glow.

However, we know relying on the weather – especially British weather – isn’t an ideal option! So, you’ll be pleased to know that this isn’t the only way to capture the warm and welcoming look. Today’s post-production technology is your friend in this scenario. With a combination of accent and ambient lighting switched on around your home as well as an arsenal of subtle sepia-tinted filters, professional photographers can easily craft that sought-after early evening glow.

Capture the scale

Framing a shot to reveal the true size of your home is crucial when it comes to giving an accurate depiction of the space – and there are a few clever hacks to capture it. A whizz with full-frame cameras and an ability to experiment with varying perspectives, an expert photographer will have all the necessary equipment to hand to ensure large rooms and outdoor spaces give viewers a real representation of your home’s footprint.

Showing where your house is situated in its surroundings is also a great way to indicate the true length and breadth of your home. So, if you live on a hilltop with plenty of countryside around, or you want to show the size of your garden by highlighting boundary hedges and fences, then elevated photography, perhaps with the help of a drone or aerial mast, is another useful route to take.

Framing shots from a higher perspective will give scale and dimension to your house and highlight your proximity to stunning views or local Amenities that may otherwise not be realised. In the eyes of a potential buyer, elevated photography can take a modest cottage to a rural marvel, or a humble townhouse to the heart of a historic centre.

Show the local area

Location, location, location – we can’t emphasise this enough! When investing in a new home, most people aren’t only interested in the house itself, but also in the place that surrounds it – and rightly so.

Showcasing snapshots of the local area, whether it be well-known landmarks, a quaint nearby shop, pet-friendly parks, walking trails, or picturesque views, now is the time to bring all of these aspects together and paint a picture of what life could be like living in your home.

Would you like to find out more about the specialised photography services we offer? Or are you searching for more advice on how to prepare your home to go on the market? Whatever your query is, we’re here to help! We’re but a call or email away – simply contact us by phone on 01684 561411 or send us an email at malvern@allan-morris.co.uk and a member of our friendly team will be on hand to guide you.