How to get over a difficult property market

Cooke & Co REVEAL THE RECIPE FOR SUCCESS IN SELLING IN A DIFFICULT MARKET
The newspapers, radio and TV may be full of gloom and doom about the current state of the property market, but by following a few simple rules, you can still significantly improve you chances of achieving a successful sale – according to leading Thanet estate agents Cooke & Co

“Things simply aren’t as bad as the media would have us believe,” says Damien of Cooke & Co “Even in the depths of the last property recession – a far worse state of affairs than we are now experiencing - there were still a million completed sales a year.”

The reality, he explains, is that whatever the state of the market, there are always serious buyers to be found – people who have genuine, pressing reasons for moving home. “The trick is reaching those serious buyers in the most effective way – and that’s where homeowners can do a lot to help themselves.”

Damien was speaking after returning from a regional meeting of the prestigious Guild of Professional Estate Agents, where strategies for dealing with the current state of the market were debated in detail. Cooke & Co have represented the Guild in Thanet since 1994.

The first thing that homeowners can do to improve their chances of a successful sale is to choose their estate agent carefully, says Damien. “All estate agents are not the same. You need to choose one who’ll give you the very best professional advice. You need to be sure that they will market your home in the most effective way to the widest possible group of potential buyers. And, you need the peace of mind of knowing that your best interests will be protected.”

Personal recommendation from someone with recent first-hand experience of buying and selling in your area is obviously the best way of identifying a good agent. Unfortunately, such help is not always available. Nor are the big, well-known national brands necessarily any guarantee of good service, Damien points out. “Estate agency is basically a people business - so the service you get is only as good as the people staffing that particular branch. For that reason, it’s usually best to start with a well-established independent agent – someone who really knows the local marketplace, and whose whole business depends on delivering quality personal service.”

However, the problem with most ordinary independent agents is that they lack the resources and reach to maximise a property’s exposure across the widest possible marketplace, he adds. “Ideally, you need a local agent who can call on the marketing strength and support of a major national network.”

Guild agents fit the bill on all counts. Each of them individually identified as the leading firms in their respective areas, and all dedicated to maintaining the very highest standards of professionalism and customer service, together they comprise the UK’s foremost network of independent local estate agents. “Both collectively and individually, Guild agents enjoy access to a unique range of marketing tools - all specifically designed to generate maximum market exposure at both local, regional and national levels,” says Damien Those tools include everything from superb full-colour property magazines and other promotional materials to a dedicated website, an exclusive national referral system, and even a prestigious Park Lane office providing high-profile access to the wealthy London and international markets.

As for peace of mind and professionalism, the Guild has long been in the forefront of the industry by insisting on adherence to a strict code of conduct at all times. Back in 2004, it became the first major national network to demand that all members must also belong to either the Ombudsman Scheme or the prestigious Royal Institution of Chartered Surveyors. The Guild subsequently raised the bar for the rest of the industry even further by requiring all members to carry full Professional Indemnity insurance. To date, no other national network has gone so far in setting and enforcing such high professional standards.




The net result of all this is that Guild agents like Cooke & Co represent the very best of both worlds – all the traditional advantages of dealing with a well-established local company, plus the strength and resources of a major national network – together with the highest levels of trust and confidence.

Next on the list of things sellers can do to help themselves is pricing. “Your asking price is probably the single most important factor in determining whether or not you achieve a successful sale, so you need to get it right,” says Damien. Yet that isn’t easy, he adds. “Obviously, everyone wants to get the best possible price for their home, but if you ask too much, your chances of achieving a successful sale could be significantly reduced – particularly when, as now, buyers are spoilt for choice.”

In practice, he says, pricing is best left to the experts, since they have the necessary knowledge and experience to make those kind of judgements on an informed basis. Nevertheless, as the seller – particularly in this kind of market – it’s important to manage your own expectations. “At the end of the day, your home is worth what someone is prepared to pay for it – so the key thing is to try and establish how much similar properties in your area have recently sold for. Checking estate agents’ window displays and so on isn’t much help, since these are only asking prices. Websites like www.myhouseprice.com and www.ourproperty.co.uk do provide this kind of information - but you should always bear in mind that they get their data from the Land Registry, so it’s basically 3 months out of date.”

Thirdly, says Damien, is the condition of your home. “One of the best ways of ensuring you get the best possible price for your home is by keeping it clean, tidy and well cared-for, inside and out. This is true in any kind of market – but once again, particularly so when buyers have lots of homes to choose from.” However, he emphasises, the good news is that this doesn’t necessarily mean a lot of effort and expense. “It’s the little things that make the biggest difference – things like fresh paintwork, clean kitchens and bathrooms, and tidy gardens.”

Choose your agent carefully, price your home realistically, and keep it spick and span – follow these three simple steps, says Damien Cooke, and you will maximise your chances of achieving a successful sale at the best possible price – even in today’s more challenging market.
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For further press information, please contact:
Damien Cooke. Cooke & Co Estate Agents (01843) 231833 damien@cookeandco.com