How to help your property sell in a buyers’ market

Market sentiment remains cautious as general uncertainty continues. Prices in central London have fallen on average this year, with some vendors having no option but to lower their asking price expectations. Despite the higher rates of stamp duty for buyers, the market is arguably easier now than three to four years ago, when property prices in central London were soaring exponentially.  

For vendors looking to sell their property in Marylebone, Maida Vale, Baker Street or the surrounding areas, there are many ways to help your property sell more quickly, and we’ve outlined a few below.

1) Choose a local estate agent
Most homes in an area such as Marylebone will sell themselves, but you’ll always want to get the best price for your property. To help with this, choose an active local agent who really knows and understands the market. Look to engage an agent with experience of selling properties which are similar or possess similar qualities to yours, as this will help throughout the selling process. You’ll also want to find an agent who’s genuinely enthusiastic about your property and what it has to offer a potential buyer.

2) Set the right price
When there is relative uncertainty, the market is more price sensitive, and this is the case at present for many central London buyers. It’s always tempting to go with the highest valuation, but if you set a more realistic price, a price which reflects other asking prices in the area, you’re more likely to incite interest in your property which could in turn create a bidding war, leading to a sale price you weren’t even expecting.

3) Carry out quick fixes
Carrying out any quick fixes is important where necessary, but we wouldn’t advise spending a lot of money on improvements as you’re not always likely to make that money back. Instead, look to see how you can make little changes and alterations to lift the overall appeal of the property. What are its best features? Look to enhance those so that they draw the attention of the viewer. And it goes without saying that if anything is broken or in a state of disrepair, fix it.

4) Depersonalise and clear the clutter
Remember, when a potential buyer walks around your home they are trying to imagine themselves living there. For this reason, when you put the property up for sale, try to remove some evidence of your lives there, whether this be putting away some photographs or opting for a more neutral paint colour in the sitting room. Dispense with any unnecessary clutter for the same reason. It’s important that the property feels lived in and feels like a home, but try to remove some of your personality from it, as this should help a prospective buyer ‘move in’ in their mind.

5) Be flexible
From the marketing of the property to negotiating a final price, always try and be as flexible as possible.

Are you looking to sell your Marylebone property? As local estate agents in Marylebone and Baker Street, we’re well-placed to help you with the sale of your home. Contact our agents today.