5 Tips To Sell Property Right Now! (May 2024 Market Update)
Sales Director Jake delivers a snappy analysis of the UK housing market as it stands right now, and then delivers his expert tips for anyone wanting to sell property in the UK as of May 2024!
Market Update
We're usually able to predict the housing market fairly well, but it's fair to say 2024 has thrown up some surprises! Despite the higher mortgage rates faced by many buyers, activity remains high and even when looking at our data, our sales are up 30% when compared to this time last year, so it seems buyers remain undeterred!
Even though we are seeing lots of buyers out there, the marketplace is still becoming very crowded, with Zoopla reporting 20% more homes for sale nationally this year when compared to the same time last year. It's clearly as important as ever for sellers to stand out, and with that in mind, here's 5 tips of sellers in May 2024!
1) Act now
If you've decided to sell and you're now just weighing up the best time to get things started, my advice is to act now. The summer holidays are upcoming but so too are the European Football Championships, the Olympics, as well as the likely general election taking place at the backend of the year. Events like these tend to cause a temporary pause on activity so it's best not to wait, and get your property up for sale as soon as possible!
2) Do your research
Make use of online resources and conduct some of your own research. Look at similar properties nearby, both in terms of those available and those under offer. This should give you a really good idea of what's selling, what isn't, and where prices are currently sitting.
3) Tidy
When your property goes online, you want buyers' eyes to be drawn towards it's best features. The best way to emphasise these is to declutter, tidy up and make the most of the space within the property. With such a saturated market, first impressions count so a little bit of effort to get your property tidied and organised can go a long way!
4) Choose the right estate agent
We know what you're thinking, of course, we're going to say that, but listen to what we've got to say! Choosing the right estate agent is imperative to successfully selling your property, so ask them some key questions relating to their experience, what similar properties they've sold, and how they plan to market your property beyond the normal means. Always be wary of agents who give you high evaluations but can't provide evidence or reasoning to back them up.
5) Price competively
The market is going well but as it becomes more crowded, it's important to price competitively as to not deter too many potential buyers. You'll usually do better setting a realistic price when compared to those who set outlandishly high prices. In most cases, these people only have to reduce their asking price further down the line!
