BEST PRACTICE – THE 8 STEPS FOR SELLING YOUR HOME
1. VALUATION
A key factor in selling for the fairest price within the desired timescale and with the least amount of stress is to obtain an accurate valuation. An estate agent will utilise their combined knowledge of the local market, current demand, and buyer database to give you an honest and fair appraisal of the expected value of your property and assess how it places in the market alongside similar properties. This time-sensitive valuation will assist in generating viewing activity. An unrealistic asking price can lead to your property going unsold for an extended period and cause potential buyers to be cautious of the property.
2. CHOOSING THE RIGHT AGENT
Choosing whether to sell your property privately or with an estate agent, along with the choice of agency can be a difficult but crucial decision, the wrong choice can lead to a delayed process, additional costs and unnecessary stress. Selling a property can be a complex and overwhelming task for an individual.
The valuation, marketing, arranging viewings, negotiating offers and processing the sale through the solicitors are all complex matters. As such, it is sensible to enlist this responsibility to a trusted agent who will act on their behalf in identifying the right buyer, achieving the fairest price in the timeliest fashion.
When choosing your agent, it is wise to consider their reputation and position in the local market. Other important factors to look for is the agent’s track record of success for selling similar properties to yours, agency expertise, team knowledge, presentation of their local office, their digital footprint, marketing activity as well as sales progression support.
3. MARKETING YOUR PROPERTY
It is prudent to enquire as to how an agent plans on marketing your property, this is key to finding the right buyer. As a forward-thinking company MGY is at the forefront of new and effective marketing techniques, adopting technological developments to ensure our vendors have all possible advantages available to them. MGY also utilise the following marketing processes:
- Direct communication with our current buyer database who may be interested in your property.
- Eye-catching window displays from your local office benefitting from high pedestrian flow.
- Design-led wall displays within your local MGY branch office.
- Bespoke property brochures created in-house.
- Professional photography, floor plans and optional HD property tour & drone video productions.
- Promotion on Internet based portals ‘On The Market’ and ‘Rightmove’
- MGY Website & effective social media marketing.
- Discernible “For Sale” boards.
- Coming Soon: A dedicated magazie area guide for your local area written, designed, produced and distributed by MGY.
All of this results in a “tried and tested” marketing campaign that no other independent agent in South East Wales can match.
4. VIEWINGS
A Property Viewer should be trained to highlight the unique features of the property and other advantages that will appeal to the prospective buyer, such as pointing out South facing gardens, a property viewer should attend and accompany all viewings. MGY Property Viewers are knowledgeable of the local area as well as adept at answering any queries or concerns the prospective buyer may have about your property. As standard we provide viewer feedback within twenty-four hours in addition to offering home staging advice to maximise property appeal and potential value.
5. NEGOTIATION
An agent will handle yopur negotiations with the buyer, offering advice to achieve the fairest price, considering the response to the marketing, interest from other parties and recent comparable sales. On top of the price offered, consideration should be given to the financial position and flexibility of the buyer. Are they: paying cash, already in possession of a mortgage agreement, first time buyers and in a chain? These details will impact on your required timescale. MGY verifies any potential buyer’s financial position and confirms details of any chains.
6. ACCEPTING AN OFFER
Upon accepting an offer, you will need to instruct a licensed conveyancer/solicitor. They will send the buyer’s conveyancer/solicitor a draft contract setting out the particulars of the sale. At this stage you should inform your conveyancer/solicitor of any fixtures and fittings which are included in the sale, as well as providing documents of any guarantees or certificates for works you have completed on the property. This is an opportunity for the buyer’s conveyancer/solicitor to raise any enquiries regarding the contract and documents.
SALES PROGRESSION
MGY have a specialist, in-house sales progression team, their sole remit is to get your property from sold to completed in the timeliest manner possible. They will provide you with regular updates throughout this process. Sales Progression will keep you up to date on the buyer’s mortgage application offer, survey dates and outcomes, status of the legal process and where relevant provide updates on the rest of the chain.
COMPLETION
On the day of completion any outstanding monies from the buyer will be transferred to your conveyancer, who will in turn transfer the remaining balance to you once any fees and outstanding mortgage amounts have been deducted. You have then sold your property and are required to move out. Ensure you change/transfer your landline telephone number and internet service, take meter readings, and redirect your post. It is also courteous to leave notes for the new owner explaining how things in the house operate, as well as where to find essentials such as the fuse board and the water inside stop valve.
7. EXCHANGE OF CONTRACTS
The exchange of contracts can occur once the buyer’s mortgage offer is received, all responses to enquiries raised are deemed satisfactory and all parties agree a date of completion. Both the buyer and seller then sign the contract with the buyer paying a non-refundable deposit, usually 10% of the purchase price. Once contracts are exchanged the transaction becomes legally binding.
WHAT MAKES US DIFFERENT?
A PERSONAL SERVICE
Our clients tell us they appreciate our personal touch, as well as our professional property services, which togheter deliver greater results and an individual experience.
PROPERTY PROFESSIONALS
We are governed by both the Royal Institution of Chartered Surveyors and the National Association of Estate Agens, plus our surveyors and staff are NAEA members.
MARKET LEADERS
Our name, reputation and branding are synonymous with the highest standards of market leading services, offering maximum results and greater results for you.
PROPERTY MATCHING
We manage a comprehensive database of buyers and sellers, tenants and landlords whose search criteria are matched – very often resulting in successful pairings.
DRIVEN TO ACHIEVE
Along with our passion for property, we combine listening, understanding and empathy with energy, ambition and drive to achieve our clients’ goals.
MARKETING PACKAGES
Properties are actively marketed on our website and all social media channels as well as on Rightmove & OnTheMarket, two of the highest profile property portals in the UK.
A CUT ABOVE THE REST
Whether you are looking to buy, sell, rent, let or instruct us for a survey/valuation, we focus on delivering great personal service backed up by sound local knowledge and over 35 years of specialist expertise.
