Get it right from the outset
I saw some scary stats this week. Rightmove have recently produced some stats that say;
· Properties which have had a price reduction take 2.5 times longer to sell than those which don’t have a price reduction
· Properties which have a price reduction are 20% less likely to sell at all than their non-reduced counterparts
· Reduced properties which do sell are twice as likely to fall through than those which weren’t reduced
Wow, that’s seriously scary!
Attracting an offer quickly to a property is about getting three elements right from the outset; the price, the presentation and the promotion. Many good agents will focus on getting the price of a property right for the launch. They will discuss the pricing strategy, the photos and video. They will usually talk about the listing on the portals and a social media strategy. Many UK agents are still wary of approaching the conversation about presentation. There is a fear factor – ‘will I offend the seller?’, ‘will it take too long to get on the market if they have to do the work to declutter/decorate/stage?’, ‘will they seller baulk at additional costs?’.
But look at the stats. If the agent DOESN’T approach the difficult conversation with their seller, the next conversation, when the house fails to sell, is going to be much harder. I have made a bold statement in my new book ‘How to Sell your House’ – ‘only about 1% of people live in homes that are viewing-ready all the time, the other 99% of us simply can’t live like this’ (Elaine Penhaul ReThink Press May 2024) This makes it easy for an agent – every single home seller needs advice about presentation. As an agent you don’t have to choose, you simply recommend presentation experts for every single home sale and let them work their magic.
Presentation encompasses everything from the cleanliness and organisation of the house to its aesthetic appeal and overall ambiance. It's about creating an environment that not only looks inviting but also feels welcoming to potential buyers. This is where the expertise of a skilled estate agency becomes invaluable.
A reputable agency understands that presentation is more than just superficial aesthetics, it's about showcasing the property in its best possible light to maximise its appeal and attract qualified buyers. By addressing concerns related to the property appeal from the outset, sellers and agents can mitigate the need for those price reductions and the scary consequences.
Presentation plays an absolutely critical role in the success of a property sale.
From a seller perspective, sellers want to partner with an estate agency that understands the importance of presentation and offers them a range of straightforward solutions to enhance the appeal of their home. If an agent can make a recommendation to all their sellers because they work closely with a reputable stager to improve their presentation, sellers can maximise their chances of achieving a successful sale in today's market. It’s a win-win scenario!
RM Slides from Christian Balshen @Rightmove
