No
Onward Chain - For Serious Property Sellers!
This idea is to market properties with no
onward chain, this means vacant properties, which are either repossessions,
probate or just not buying another house with what would be considered a
realistic valuation, perhaps even a below market valuation. The idea being that
with more activity and interest in the property, there should be a greater
amount of viewings and in turn a greater amount of offers. This isn’t a new
idea, it is a very simple auction.
Our immediate route to market will be
directly with solicitors and also asset managers and funeral parlors. The
public can use us but will have to sign a contract to say that they are
vacating the property.
The agency contract will be for four weeks
only so there are no huge contract periods and no upfront fees so the client
has nothing to lose.
We offer a no sale, no fee package
The marketing plan for each property would
be a four week campaign with two open days for buyers to attend, after the
second open day any offers would be dealt with, giving all potential buyers the
opportunity to increase from their starting point.
Online we would be on www.rightmove.co.uk
and www.zoopla.co.uk
to offer as much coverage for the property as possible.
We would be asking buyers to put down a
deposit and exchange immediately with the Gazeal deal (http://www.gazeal.co.uk)
and then have 28 days to complete subject to the usual legal paperwork.
My thoughts on price are that every
property will sell at the right price. If the market isn’t willing to offer you
what you want then you wait for the price to move in your direction, however
the problem with this is that the one you might want to buy has moved as well.
I have been in estate agency for a long time
and what I have realized over the years is the only reason a property doesn’t
sell is the price. Now, what this really means is that the market isn’t willing
to offer you what you want for your home. From here, I believe you have two,
maybe three options,
o The
first is to wait and see, hope and pray that, that one buyer comes through the
door that is willing to offer you what you want. This long term strategy could
take the next six months.
o The
second is to remove your home from the market place, wait till it is more
buoyant and is willing to offer you your price. The downside of this is that
whilst you get what you want for your home, the price of your onward purchase
will have also moved so your next property might be out of reach.
o The
third is to adjust your marketing price now to try and attract more buyers
through your front door with a view that you will then receive an offer to make
the next move possible.
On overage, it takes about thirteen
viewings for an offer. If you’re not getting viewings the market is telling you
that your price is too high. The market
can never be wrong!
My job as an estate agent is to offer you
best advice, to try and achieve the highest price possible for your home in a
reasonable amount of time. This is a very tricky balancing act because whilst I
want to offer best advice, I also want your instructions to sell and I know
that some (not all) estate agents are pricing high to gain instructions.
We need to contact all the local
solicitors and sell the idea to them, also all the local undertakers and see if
we can get them to introduce us at an appropriate time. This is a marketing
machine, so we need letters to go out to
I am currently working in a traditional
high street office which has no unique selling point and therefore nothing
different from any other agent in the high street.
No onward chain offers a different package
and a different way to sell your home without the expense of an auction and
without the time constraints of the auction house.
We also expect our sellers to instruct a
solicitor at the outset and have a sellers pack in place for immediate exchange
on receipt of the deposit.
There will be different packages available
~C&�ӓJ1
