Tips please: how to sell a house quickly

[dustythedolphin]

Ok I know its an impossible task, but any ideas on how to get a quick sale for our house, which has just gone onto the market? So far we have:

Moved out, so its chain free (though tenanted by immaculate and tidy tenants, whose lease ends in December anyway)
Spent 10K on cosmetic repairs and redecorated to a creamer shade of bland so as not to offend anyone's taste with our taste
Put on market at £25k less than the valuation price

Its only just going on the market, and I want to avoid it sitting there for months as we have our eye on something else. Agents tend to over value, IME, then gradually get vendors to drop the price to something more realistic after a couple of months.

I am unsure whether we should:

Drop the price a bit lower in the hope of getting a quick sale? We could afford to drop another £25-50k at the outset, as where we are buying is far cheaper
Go with two agents agents in the hope they will compete with each other (this worked once before for us, as sometimes sole agents appear to sit on their laurels)

Can anyone give any advice or tips in order to shift the house as quickly as possible?

Its in a very popular area with excellent schools and fab transport etc - very popular & desirable (catchment area for the two best schools) but the market is strange at the moment isn't it?

Has anyone else done anything which helped them achieve a quick sale?

Thanks in advance :)

Is your idea that the sale will complete in December when the tenant's lease runs out or will tenant be willing to go sooner? You definately need to get the tenant on your side to allow viewings etc.

Agree that more than one agent is not necessary, IME most people look at properties on property websites, do a shortlist then view them. Multi agency just costs you more in fees.

Good luck!

Phone your agent every single day until they are so fed up with you that they will sell it just to be rid of you.

Make sure you have the right agent. Do they advertise in the obvious places? Are they quick to answer phone inquiries?

I would ask friends or others in the area for their opinion of your agents.

I would say you haven't got your timing right. Everybody where we live are on holiday very few new houses are on the market and few people are looking. I would give it until mid September before a price reduction. Nobody knows what the market is doing so nobody will pay the asking price so I wouldn't reduce it to what you are willing to accept as you won't get it.

Check when in your local area people need to move to get into a school - some areas you need to have exchanged by the end of September to apply for a school place although other dates are often end of December.

I agree with the other the tenants and viewings are likely to be the major problem.

Hi

Love at idea of becoming a nuisance so agent will want to sell to get rid of me

TThanks for tips re checking out prospective buyers credentials - will add that to my list

The tenants are wonderful and are fine about viewings, so i didn't have to use a sweetner

We putting it on the market now, to catch the September activity when everyone returns from their summer hols. Apparently it picks uup again the last few days of August, so we wwant the marketing out there for when ppl return

Any more tips very welcome

@ typos

Mummy we are using the agent who sold our last house and who also gave us loads of tips when buying this one, which we bought through another agent (there were four bidders and it was going to sealed bids. We got a high offer in, which was accepted, then were almost guzumped the day before we exchanged contracts. The agent we are using now helped us side step all the tricks and also sold our last house very quickly after it had sat on the market for 12 months)

Last time we sold we went through four agents over a 12 month period until we found one who pushed the property, but only to the right ppl, if that makes sense. The others were either lazy (did nothing to sell it) or too pushy (showed loads of ppl round, half of whom weren't even interested in that type of house, they were simply shoving anyone through the door)

I have a lot of faith in the agents, but feel the price they are suggesting we market it as is a bit over optimistic perhaps...not sure whether to have a low price at the outset, or wait 3/4 weeks. To me it always looks a bit desperate when a house is advertised as "reduced"

I think you should tell us where it is - use the power of Mumsnet !

I'd go with the price YOU are happy with, agree it can look desperate if you advertise a house as 'reduced'.

We recently sold, house was on the market for eight weeks - I think an awful lot of it is down to 'luck' - if the right buyer is around - good luck.

Following on from magichomes' comments, have the office people from the EA been to see the property (ie not just the valuer, but the people potential buyers will deal with)? I think it's important that they have an image of the property in their heads, as well as just the pics so that they can push the benefits to potential buyers.

I must say though that as a buyer I would be a bit put off by tenants, however lovely they are. I don't know the ins and outs of tenancy regs, but I would be a bit nervous about signing on the dotted line with tenants still in the property.

Good luck anyway - we've just put our flat on the market too and haven't had a sniff yet - last time we sold we had an offer within a week - changed days indeed.

Ragwort - wow eight weeks is good!!

Yes I agree about the price. We need to be realistic, not optimistic

Its in Richmond, west london (famed for primary schools and all sorts of lovely things)

Midnight - yes I specifically asked for a couple of other opinions, but they both said they thought it was worth the higher price, so am confused

The tenant's lease runs out in December, so I think as long as that is made clear to prospective buyers, the fact that it is chain free will hopefully compensate. The tenants are spotless too (much tidier than us. We are more "Outnumbered" in living habits). I'm trying to time it so we get an offer before the tenants scarper, otherwise it will become a financial drain on us

As I am in your area - everybody is away it is completely deserted here. If you are near a good primary school (i.e. yards these days) then that commands a premium and should sell quickly. Tenants would put me off to be honest, also December is when you would plan to move if selling now chain or no chain.

timing wise there are always reasons to do it now or delay...

you could consider putting it on at an offers over price this way it is more tempting and you should get more viewers. that is what you need - viewings.
you could consider auction if you want to sell quickly. if you're in a popular area and you have priced reasonably (and it sounds like you have) then you shouldn't have too many problems - fingers crossed for you.

Innat - that's a very good idea, will discuss with estate agent!I agree it does seem more tempting and invites bidders in

Magic - Brook Green is a lovely area, good luck with your search :)

Bump

I sold in Richmond at about the same time last year. I had 3 agents in who all valued it at the same which I thought was too high as higher than anything in the road had previously sold for and above the 500k stamp duty threshold.

I wanted to get the best price and sell it reasonably quickly but I also had experience of selling it before (long story, didn't move) so I knew that it would sell. I put it on at 20k over what the agents all felt they could achieve, expecting to drop to below the 500k threshold! I sold at the asking price before it actually went on the market to a cash buyer and all went through in 6 weeks! So, I was wrong and, much as I hate to admit it, the agents were right. That said, my agent was a bit of wide boy and had people in before the HIPP was even started!

Secret - OMG that's brilliant - which estate agents was it (they sound great)?

You need to make the tenant situation crystal clear to any potential buyers. As when you sign the bits of paper to say you are giving vacant posession they really should already be out (not giving a date that they will move out IYSWIM).

I feel for you but in truth I would not treat a rented property as chain free, it would have to be better than the competition and cheaper to make me consider it.

All the best of luck

Theo I said the lease ends in December, I can give them notice before that of course.

Can you afford to give them notice now?