Separating the facts from the myths

Posted on by

Separating the facts from the myths

Can the smell of coffee and/or freshly-baked bread really help you sell your home?

This is a busy time of year for estate agents and those looking to sell or buy a house.

To give you the best possible chance of success, here is the ultimate lowdown on some of the truths and myths of the market.

Some people are convinced the smell of coffee and/or freshly-baked bread can have a positive influence on would-be buyers. Is there any anything in this?

It’s true that a ’homely’ aroma is endearing to would-be buyers. Smell is one of the most powerful of our senses. So the opposite is also true – bad odours or suspicious smells are very off-putting.

Is it crucial to tidy your house as much as possible ahead of a viewing – or is it better to show would-be buyers a lived-in look?

I’d go as far as saying it’s critical to present your property at its best. I’ve seen so many houses listed here on the island (some in the last week or so) and the photos simply don’t do them justice.

Your home doesn’t just need to be tidy, you should de-clutter as much as possible.

Does superstition come into buying and selling? Does the number 13 ever put people off buying a house?

In simple terms, no it doesn’t. We’ve sold many houses that are number 13, however, I have also seen house numbers changed to 12a, rather than staying as 13!

Don’t worry about this.

Is it a myth that few houses are sold over winter, and that you should never put your house on the market in the run-up to Christmas?

Certainly it is traditional that most people put their property on the market between January and October. Should this deter you from going on the market in December? No, absolutely not!

There are many buyers towards the year’s end, and if you have your property on the market there are far fewer other properties to compete with.

Also, if you haven’t sold by this point you have a head start on sellers who come on board in the busy New Year.

Do sellers always assume a would-be buyer’s first offer is just that – and there is bound to be a better offer, or offers? How often is the first offer the only offer?

The ’best offer’ a seller will receive is the first offer. I don’t mean the first bid put forwards. I mean the best position that initial offer ends up as. It doesn’t matter if that offer is made within a month, a week or in some cases a couple of days. You can usually tell if the buyer is testing the water and if they are a serious buyer they will nearly always improve on their opening offer.

Our research shows, on average, buyers agree at around 97.6% of the asking price.

For those people who ask two or three estate agents to value their house, is it always the case they will go with the estate agent who suggests the highest selling price?

No that’s not true any more. Or at least it shouldn’t be. The internet allows sellers to have a pretty good idea of their property value. Good agents won’t just suggest a figure, they will offer extensive comparable evidence.

Do buyers make their minds up within a few seconds of walking into a house?

The first minute or two are often all a buyer needs to know if this is the house for them. So it’s very important to make a lasting first impression.

Pricing – is a £189,999 listing always going to be more appealing to would-be buyers than a £190,000 one?

Yes and no. There is no doubt that psychological pricing works, however it is also important for an estate agent to consider the impact certain pricing can have on people’s decision to view a property. Pricing should be set in accordance with the market.

Tim Groves
Black Grace Cowley
(01624) 645555

Return to all posts

Posted in Uncategorised