Pent-up demand due to various lockdowns during the COVID-19 pandemic has fuelled the property market and led to a soar in buyers. While it’s uncertain what will happen when the stamp duty holiday ends next month, buyer demand remains high – and supply isn’t meeting it. Want to strike while the iron’s hot? Here’s how to sell your house quickly.
How to sell a house fast
- Ensure the timing is right
- Pick your estate agent carefully
- Decide an accurate sale price
- Make a good first impression
- Promote the area
- Find a good solicitor early on
- Be communicative
- Don’t be afraid to micromanage
- Make the most of viewings
- Choose the right buyer
- Consider offers carefully
A look at the current property market
Nobody could have predicted the impact of the pandemic on the property market. It certainly hasn’t played by the ‘rules’.
- UK average house prices increased by 10.0% over the year to May 2021, up from 9.6% in April 2021
- House price growth is now at 6% (as of June 2021)
- March 2021 saw the record average house price of £256,000
- House prices in England remain the highest in the UK, but all countries have seen significant growth
- All regions have seen house price increases, with London seeing the slowest rate of growth
- The ‘race for space’ has been well & truly on, with the pandemic shifting buyer priorities
- Bigger properties and more green spaces form key criteria for the best places to live
Despite this, no sale is guaranteed to go through. There can be delays in the conveyancing process, or due to property chains or buyers. It’s essential to keep communication open, micromanage the purchase and ensure everyone in your ‘team’ (e.g. estate agents, solicitors) are doing their job well. We’ll take a look at more tips for selling your home fast.
Is buyer demand likely to remain high?
The stamp duty holiday is due to end completely on 30th September, which may slow the market down slightly. However, it wasn’t the only factor fuelling the property market. Many are still on the hunt for space, and demanding more from their properties.
While house prices have fallen slightly from March 2021, they still remain high. Buyer demand is still higher than is typical this time of year. Total stock of homes for sale is 26% down from 2020, and will remain low well into 2022, pushing prices up. However, it’s easy to see why many want to strike while the iron is hot.
How to sell your house fast – 11 top tips
It’s important to be aware that even if you do everything ‘right’, there can be delays to the selling process that are out of your control, e.g. Land Registry checks. However, here’s some advice to give you the best chance of keeping the property sale moving along smoothly.
#1 – Ensure the timing is right
Deciding if now is a good time to sell isn’t all about house prices, so don’t be swayed by property headlines. The answer will depend on many things, such as:
- Personal circumstances (e.g. career, family)
- Whether you can afford it
- If it’s worth adding value to your home first through home improvements
- If you’re ready – it can be a difficult & lengthy process!
#2 – Pick your estate agent carefully
The estate agent works for you, and will be a key player in ensuring your home sells quickly – and for a good price. While estate agent fees can vary, you’re looking at about 1-3% of the sale price. Be wary of anything lower than 1%, it might result in a very ‘hands off’ service.
Choose an estate agent with a proven track record of selling your type of property, in your area. They should have valuable local knowledge you can tap into. A proactive agent will be essential all the way through the journey, not just for marketing your home and finding a buyer, but during the conveyancing process also. While an online estate agent might be cheaper, they may not have their ear to the ground like traditional local estate agents will.
Look at their current marketing material, can they be trusted to advertise your property well? How well you market your property will massively impact whether it’s a slow or fast sale.
#3 – Decide an accurate sale price
One of the main reasons a house doesn’t sell? An inflated, inaccurate sale price. You shouldn’t undervalue your property just to get potential buyers through the door, but a sale price that’s too high will likely put buyers off.
Get a good idea of how much your home is worth yourself, don’t just rely on estate agents. Some may inflate the price just to secure your business. Look at how much similar properties have sold for in the area, for example.
#4 – Make a good first impression
Making a good first impression is key – as it can seriously impact time on the market. Some top tips:
- Ensure the listing on the property portal presents it well
- Accurate, detailed description
- Plenty of high-quality photos
- Draw attention to unique features
- Declutter but don’t depersonalise
- Clean thoroughly
- Be clever with lighting
- Remove any bad odours
You have seconds for property buyers to decide if they’re interested. So, make the most of them!
#5 – Promote the area
Buyers will look at the local area also when deciding whether to buy; it’s not all about the property alone. So, do your best to showcase it in its best possible light. From good transport links to large green spaces, or great entertainment, there are plenty of points you could consider highlighting.
#6 – Find a good solicitor early on
Finding a good, proactive solicitor is absolutely key. We can connect you with trusted professionals, all who work on a no sale, no fee basis. Get a conveyancing quote – for free.
#7 – Be communicative
Being responsive and communicative is possibly the most important fact when it comes to selling your house fast. Stay in touch with everyone in the property chain, as well as keeping in close contact with your solicitor and estate agent. Slow responses cause delays.
#8 – Don’t be afraid to micromanage
Take a proactive approach to keep things moving in a timely fashion. Get the contact details for everyone in the chain, and try to find out where they’re at in the process, as well as their proposed timescales. Often, the more hands-on you are, the better.
Particularly if you’re buying and selling, micromanaging the process will help your home sell faster.
#9 – Make the most of viewings
Selling your home quickly won’t just be your responsibility, but also those in your ‘team’. Use your estate agent to their fullest extent during viewings; this is their area of expertise. It can be a good idea to duck out of the first viewing and let them do their job. Removing pets and noisy children can also be a good idea. Plus, of course, ensure your property is presented in its best possible light.
Try to find out as much about prospective buyers as you can, for example:
- Are they first-time buyers? Or do they have a house to sell?
- How quickly are they looking to move?
- How committed do they appear?
#10 – Choose the right buyer
The buyer will massively impact how fast or slow your property takes to sell. For example, selling to a cash buyer may be quicker, as there’s no chain. This is the same as with first-time buyers, as property chains are notorious for delays.
However, there are pros and cons. In some cases, chain-free buyers may make a lower offer in the knowledge they’re more attractive to certain sellers as they’re able to move quicker.
#11 – Consider offers carefully
Considering an offer on your property is never easy – and a good offer isn’t all about the money. Don’t just look at the price for your property. It also depends on the buyer themselves:
- Are they communicative?
- Are they prepared?
- How big is their chain?
- Do their timescales work with yours?
Someone who wants to buy your house should have a mortgage in principle, be responsive and ready to go.
Although sometimes they can be hard to spot, try to avoid time wasters where possible.
How to sell your house quickly in this market
No sale is guaranteed to move quickly, even when following the tips above.
But, we’ll let you in on a secret, there’s a new way to sell your property. It’s cheaper, faster and more secure, as buyers have to commit to the process. Online property auctions are the modern way of selling, offering both speed and flexibility. This could be the answer you’re looking for! Get started below.
Last Updated: August 26th, 2021