Tag Archives: buyers

Women are three times as likely to pay the asking price for a property as men – at least according to Propertyfinder.com – does this mean that all sellers should be targeting the women in the hope of getting the best price?

Men and women view properties in different ways; in the main, the average British male when looking at property focuses on the structure and location. How many bedrooms, how much space, how big the garden is, and where the property is in relation to shops, transport etc. in other words, the bare facts of the property.

As a consequence, he will often keep looking until he finds exactly what it is he’s looking for on his checklist, viewing as many properties as is necessary until he finds the right one. In contrast, the average British female does her homework first, and relies far more on her gut instinct. She’s generally more interested in the ‘feel’ of a place, and trusts that she’ll know the right house when she steps inside, regardless of how many ticks it gets on the checklist. In addition, the way in which men and women offer on property differs strongly; men often see the art of negotiation as a fight, and they’re up for it. Wielding their offer like a sword, they’re brutal and determined not to give an inch. Statistics show that only 5.5% of men pay the full asking price, and 22% offer less than 90% of the asking price. Women buyers, on the other hand, are much softer and 17% of them just offer the full asking price of the property they want. 90% of female buyers offer 10% or less below the asking price, seemingly anxious not to lose their chosen property.

With this in mind then, how can you make your property more appealing to that lucrative female market? Well, start off by making sure it looks and smells clean and fresh. Women are much more sensitive than men to nasty smells, so make sure your house doesn’t pong! Clean clean and clean some more, until every nook and cranny of your house is gleaming: she’ll notice. Appeal to her feminine side with flowers and bowls of fresh fruit. A man wouldn’t be seduced by such blatant ploys but a woman will. In the bedroom, keep bedding absolutely fresh, and if possible, new. In the bathroom, appeal to her sense of luxury with lovely fluffy towels, scented candles and special toiletries. If she loves your house when she walks through the door, you’ve hooked her. And if she offers too low for you, hold out for the best price, chances are you’ll get it.

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.

Proceedable buyers generally have mixed emotions about their impending purchase right now. On the one hand, they may be feeling a little invincible, being one of the highly sought-after minority that currently make up less than 25% of active viewers. As a consequence, they may well be looking at properties which were previously out of their price range, anticipating a hard-ball negotiation with the seller.

The other emotion they are probably experiencing is fear, or at the very least, nervousness. Has the market reached its depths? Is it going to fall further? Will they be trapped in negative equity?

Sellers – you need to appreciate your buyer’s motivations and issues in order to be better placed to negotiate with them successfully, and end up with a committed buyer and a good deal.
Here are my suggestions for a mutually beneficial outcome:

1. Don’t rush them – buyers are understandably a little jittery at the moment and they may need longer than usual to make up their minds.

2. Compete well – investigate your competition – buyers are now looking at one average, 15 – 20 properties before deciding to offer on one, so you need to be the best in your category. If you offer the best deal in the area, you can be more confident about your asking price.

3. Give a little away – house buying and selling is a very fraught time, with many obstacles to be overcome before completion. If you have the foundations of a good relationship with your buyers, they will feel more willing to make compromises and be flexible over say, included fixtures and fittings or completion dates.

4. Communication – if things start getting a little tense, ask your agent to facilitate a ‘round table meeting’ if you discuss matters face-to-face with your buyers, there is less chance of misunderstanding occurring and third party corruptions of conversations.

5. Expect the unexpected – in this market, there is every chance that your buyer may get cold feet, may lose their buyer, have their mortgage offer withdrawn or may try to gazunder you. The latter is when a buyer deliberately waits until you are ready to exchange contracts then drops their offer, often significantly. Decide on an action plan for each and all of these eventualities, and don’t start packing until it’s signed.

By following these 5 rules, you will keep your buyer ‘on side’ and the obstacles and challenges you meet along the way won’t seem so insurmountable.

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.

It’s very tempting when the market is difficult to blame your estate agent, especially when you doubt they are actually doing anything proactive to sell your house. But however inclined you might feel to bawl them out, it’s vital that you keep them ‘onside’ and the relationship as strong as possible, if you want to sell your house for the best possible price. Here are my five tips for keeping your agent sweet, and trying hard to sell your house.
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Henley-montage-thoughts

My final blog post on the Henley Regatta, and some final thoughts for you.  I had a thoroughly enjoyable time and will bring away some fabulous images and experiences with me I’ll probably never forget.  My final takeaways and how to relate them to your house sale are:

  1. The details matter – sprinkle clues around your home to appeal to your distinct type of buyer.  Identify what they’ll love, and give it to them.
  2. Stimulate the senses: serve homemade cookies or cake, have lots of soft and textured fabrics and interesting materials, use scented candles and keep linen freshly laundered, play soft music, and make sure your home is staged beautifully for each and every viewing.
  3. Treat your viewers like special guests, because they are!  Be an exemplary host or hostess, and really help them to enjoy their viewing experience.

Follow these three Henley Regatta lessons, and with a little bit of luck your viewers will realise that yours is their perfect home.

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.