Your Agent May be Able to Secure You an Offer on Your Property – But Can They Sell It?
West Hampstead : 11 June 2008
PICTURE THIS: You have recently put your house on the market and experienced the relief of an offer, as you have already had your offer accepted on the property you are buying. All is going well until your buyer informs you that they are pulling out of the sale.
This is exactly what happened to one of Parkheath’s sellers in Belsize Park. Fortunately David Stern, our Sales Director, was able to establish the buyer’s concerns and renegotiated between the parties until a new agreement was met.
Another blow hit the seller when the buyer announced that the cost of the works to be carried out on completion were more than expected. Again David stepped in, and after a few calls managed to agree a better quote for the works. The buyer purchased the property and the seller was able to buy their new home.
At Parkheath all our negotiators know that a job is not done when a sale is agreed. Seeing the sale through to completion is what matters, which is why it is crucial to have a one-on-one relationship with both buyer and seller. All our negotiators are experienced and work tirelessly until a property is brought to completion.
Warning: The Highest Valuation Doesn’t Always Pay
West Hampstead : 15 February 2008
Sitting on the market with another agent and attracting no interest whatsoever, an unhappy vendor decided to approach Parkheath to ask why we thought his property wasn’t selling. Parkheath viewed the property and immediately advised the vendor that the price did not reflect the current market in that area. The vendor listened to what Parkheath had to say, and gave them the property to sell. Remarketed at the correct price, Parkheath quickly found a purchaser. Result: one happy vendor.
Does Your Agent Really Know The Current Market?
Belsize Park : 01 February 2008
This is a critical question that all vendors should ask, and it never ceases to amaze me the approach some take when placing their property for sale. Your home is your most important asset yet many vendors neglect to ask estate agents to substantiate their appraisal with examples of the most recently sold properties.
With housing stock still at a low and applicant levels continually rising, it is important to ensure that agents are not relying solely on historical data to value houses. There has been a marked increase of pressure on purchasers throughout the sales process with the increase in the number of buyers competing for every property. Due to Parkheath’s large investment in advertising in local and regional publications, on the internet, as well as running successful Open Houses, we ensure that we keep this pressure on, and that we obtain a top price for our vendor’s property.
We recently conducted an Open House on a property in Belsize Park which was attended by the hottest buyers seeking local houses. We immediately received offers above the guide price and shortly after, following best and final offers, secured a stunning price for our vendor.
In terms of outlook, I feel that the market will continue to behave in this manner over the summer. I would recommend sellers to place their property on the market before they start looking for a new one as they may be in a stronger position than expected, and to ensure that their agent is valuing their property against the market and not just on historical data.
Long Standing Service
South Hampstead : 25 January 2008
Recently we marketed a property on Goldhurst Terrace at an open day. Following the open day there were 3 offers which resulted in sealed bids. The property was agreed at £5,000 above the asking price and the sales process was running smoothly.
Just before exchange the lease was found to be defective due to a misprint on the original. Fortunately, I have been selling properties in the area for Parkheath for 18 years, and had sold this property before. I pulled up the file from the original sale and was able to provide enough evidence to the solicitors to enable the property to exchange.
This not an unusual story in that very often vendors lose details of properties and need to refer back to the original agent who sold the property. In all our offices we have staff members who have many years’ experience with the company. Very often the vendor can speak to the negotiator who originally sold them that property up to 10 years ago - and in my case 18!
Progression, Progression, Progression
West Hampstead : 18 January 2008
