I am writing this with over 14 years’ experience in estate agency. Over the years I’ve seen the market go up to the peak in 2008 and then the credit crunch crash from 2008 to 2012. In 2013 finally lenders started to lend at 95% again and the market steadily rose for the next 5-6 years. We are now however in a boom like I’ve never seen before. Property prices are rocketing and demand is at an all-time high. We’re literally seeing 5-10 potential buyers for every property we put on the market. So how on earth do you get in on the act?

Step 1 – Be nice! Seems very simple but you really wouldn’t believe how many investors we come across with an “I’m superior to you” attitude towards my staff. Don’t get me wrong we deal with some lovely landlords and I’m certainly not tarring all investors with the same brush but just be conscious of how you speak to estate agents. Remember you’re likely to be in competition with many other buyers – it could swing a property your way if you come in with a friendly approach.

Step 2 – Understand the current guidelines which we have to follow. Before we can arrange a viewing you must have either an agreement in principle in place for a mortgage or the funds on account. This is not just Keystone – all agents should be following these government covid guidelines at present. We may well continue this even after the covid situation as you will not be able to place any offer until you have proven to us that you are in a financial position to proceed. Why are we insisting on this? For a start we’re not just being awkward! Or trying to muscle in on arranging the mortgage! Or trying to see what price you could go up to! Yes I’ve heard it all before but it certainly isn’t for any of those reasons! Understand we are working for our client – the seller. A property makes more impact right at the beginning than at any other time and often the best price can be achieved in the first couple of weeks of marketing. If we were to accept an offer from someone who then fails to get a mortgage and we find out two weeks into the selling process then we have lost that initial momentum. Buyers will look on rightmove see that the house has been on the market for 3 or 4 weeks and then think there is something wrong with it. This consequently leads to a lower price being achieved. If you can provide proof even prior to a viewing it would certainly put you in the driving seat.

Step 3 – Get to know the local estate agents. No one comes into estate agencies anymore as everything is online. Call in occasionally and talk to us about your requirements. Again a friendly approach is paramount and EA’s will remember you if you are calling in regularly.

Step 4 – Most important! Register for heads up property alerts by clicking here. We send any matched properties to you before they hit any of our social media channels or rightmove. More and more agents are realising that rightmove have a hold on us and are increasing prices at an alarming rate. This is a way of us taking back a little of the power by having our own property alerts. We also don’t put houses on rightmove for at least 5-7 days and quite often they’re sold by the time they reach RM.

Step 5 – Like agents facebook pages – again for the reasons above a lot of agents post properties on their facebook pages prior to them going on RM.

Step 6 – Don’t give any indication to the agent showing you the property that you think there is anything wrong with the house! Remember this is no longer a negotiation! 99% of the time the house is selling for the asking price or above – there are other buyers and the aim is to get the agent to choose you and want to sell to you! A completely different approach is needed these days.

Step 7 – When a new price could be negotiated – When I value a house I am always taking into consideration any work needed to the house and adjusting the valuation accordingly. If a survey throws up anything that is obvious such as new soffits and fascia’s I have already allowed £1500 - £2000 in the valuation for this. If however it comes back with rotting roof timbers this is unforeseen – this is when a new price could be negotiated.

I really hope this helps and you now have a better understanding from an agent’s perspective what we’re looking for. Remember to register for heads up and by all means if you want a chat about any of our services then I am always happy to sit down and have a coffee and a chat.

Kind Regards

Ben

Managing Director