Taking a break from the market over winter - then here's what you need to know...
Thu 13 Dec 2018
If your home has been on the Stamford or Rutland property market for months, or even years, it may be time for a rethink and possibly even a break.
Taking a break has the obvious advantages with the saved disruptions from viewings at a few hours’ notice, but remember, you are trying to sell your home and you can’t have one without the other. However, taking a break from the market can have other massive strategic advantages.
It gives your house a break from the media exposure you get when it’s on all the major property portals in PE9 or LE15. House hunters are very savvy and they will do their own research on your home, the local property market and local comparable properties if possible. Your home has a 'digital footprint' that's present for everyone to see providing data on how many days your home has been on the market for as well as any changes made to the asking price over that time. What's more, the price you paid for the property and the date of purchase is also in the public domain - so unless you've done a lot of renovations and considerable improvements to the property be very careful with your pricing (although this is a whole other topic!).
Taking a break from the Stamford and Rutland property market allows you time to act on any constructive feedback from previous viewings. Maybe you need to re-decorate, re-carpet or perhaps convert an unused dining room into a cosy family snug. If you've accumulated too many belongings and your garage is bursting at the seams, what you're inadvertently doing is creating the impression that your home is lacking in storage space. Use this valuable time to commence with your packing and reassess your belongings for when you move - but be tough! If you haven't touched the items in the box for a year it's very likely you'll never need it in your next home. Clearing out and packing up gives a clear and positive signal to any prospective buyers of your home that you're committed to a sale.
It reaches an entirely new batch of buyers when you go back onto the market with a fresh, invigorated campaign. As long as the marketing of your home is creatively different when you re-launch it back onto the Stamford and Rutland property market, then your home will appeal to a completely fresh set of house hunters. Your home has a story to tell and you should ensure this is being done in an interesting and enticing way. As the property market will have fluctuated from when your home first went onto the Stamford and Rutland property market, your home will need a new market appraisal and an up-to-date, accurate valuation.
But how long should you take your home off the market for? A realistic approach is to remove your home for one month per six month period you’ve been on the Stamford and Rutland property market, therefore, if you’ve been on the market for six months, a one month break is sensible. But, if you’ve been on the market for over two years and have been listed with multiple agents over that time frame, then a four month break will ensure house hunters will think it’s a brand new property and see it with fresh, keen eyes.
Time for a real change...If your current agent isn’t suggesting any new creative ideas for marketing your home, this is the perfect opportunity to change agent and relaunch with a big impact. Don't choose another agent that offers the same service - look for something different and striking. Refer to the terms within your existing contract with your current estate agent, provide written notice if necessary and use the notice period to work with your next agent on devising a new, proactive and bespoke marketing campaign. And one last thing, choose an agent who's independent; one who understands the local community and cares about the reasons behind why you're moving.
Here at Pelham James, David and I know how to make sure your home gets launched with such an impact, so if you’d like to hear our ideas, just email us or call us and we’ll work with you to decide on the best way you can move on.
We’ve got lots of creative ideas and experience in successfully selling homes in Stamford and Rutland, maybe we can help you too?