Do I Sell Or Find A Property First? – The Chicken And Egg Scenario…
The question we often get asked by anyone thinking of selling is “Do I sell or do I find a property first?”, a common question when we value homes or re visit past clients. Our findings are that people tend to get emotionally attached to a property they have found and in being emotionally attached to that property are more likely to make a knee-jerk reaction to go on the market, and sometimes, with the wrong agent. This can be a very stressful way of doing things. The other side of it is, “I am not going to go on the market unless I find the right property”. Our advice is to focus on selling your own property first and getting the BEST price by:
Choosing the right agent who will market your property correctly.
Choosing an agent who will be open and transparent to manage the expectation of your buyer who would then be aware that you are needing to secure your onward purchase and allow time for you to find your next home.
This puts you as the vendor in a very advantageous position in that you are now going in to the market under off and able to proceed. This increases your chance in finding the right property as agents will contact applicants and buyers who are ready to proceed.
If you do find yourself in the position of having found a property and not sold, you can find yourself feeling tempted or even under pressure to put your property on the market with the agent you have found the property through. The agent may advise you sell through them or you feel that the agent can reserve the property for you. This is not the case as agents have a legal obligation to put all offers forward to their vendor, meaning no property is ever reserved unless agreeable by the vendor for a limited period of time. In this instance, we advise you focus on choosing the right agent that will market your property correctly to the get the best price in the shortest period of time (professional photography, advertising, etc.). And most importantly, the ability to negotiate is a key factor as strong negotiation skills get you the best price. Our advice is to choose an agent with the right skills set that will get you the best price as opposed to going with an agent who will get you the property.
Make a decision based on an agent that you trust will provide the best service for you. If you are thinking of selling and would like more advice, call us on 01932 22 21 20 or email us at [email protected] .