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If you’ve been keeping an eye on the property market, you’ll know that prices have been rising across the UK. In fact, the Office of National Statistics recently said that average UK house prices have increased by 10.2% in a year. That’s the highest annual growth rate since August 2007, before the financial crisis hit.
Despite the rise in prices, the demand for property is also running high. Agents are describing a heated property market, with homes selling almost as soon as they hit the market. There are several factors in play here: for those of us working through the pandemic, successive lockdowns have allowed us to save money we might otherwise have spent, as well as opening our eyes to what we really want in a home. The introduction of the 5% deposit scheme has allowed first time buyers to get a foot on the property ladder, and there has been a movement to more rural areas as buyers seek places with more land.
This boom in property is being seen nationwide, and it’s certainly true of the housing market in Birmingham, which has seen unprecedented demand for all types of properties, with many estate agents busier than they have ever been. Price growth is stronger than it has been in years and, as restrictions lift, there’s also been a surge in lettings enquiries, making the buy-to-let market a solid one for investors.
However, even with a booming market, selling a home can be a stressful experience. While some people choose to manage the process themselves, for the majority of UK homeowners, working with an estate agent is the preferred way to buy or sell their home. However, finding the right estate agent is almost as important as finding the right buyer.
So what should you consider when searching for an estate agent?
Beware of high valuations.
It’s tempting when speaking with several estate agents to go with the one who assigns your home the highest value. It makes sense, right? Not really. An over-inflated valuation may be offered by an agent simply to get your business, and, if you go with it, can result in you having to reduce your price, as well as extending the amount of time your property is on the market. So do your research. Look at sold prices and selling times, whether your agent is familiar with your area, and what the ceiling price is on your street before being tempted by shiny ££ signs.
Know your property.
Another thing to consider is whether or not your agent has sold properties similar to yours before. This may not be appropriate if you’re selling a part-ruined castle or converted monastery, of course, but for most sellers we would recommend looking at similar properties for sale in your area as a starting point to find a suitable agent – someone who is familiar with your type of property will know who to sell it to, how to value it and how to market it. They may also already have a pool of potential buyers just waiting to snap up a property like yours.
Check the reviews
Checking reviews are part of just about every online purchase these days, and the same can be said of searching for an estate agent. But don’t just go by what’s written online – ask friends and neighbours for recommendations and check community forums to make sure you really are getting what it says on the box.
Fees Fees Fees
Estate Agents charge a fee for the work they do to sell your home. However, while it may be tempting to go for the lowest fee, do your research. Does the agent know your area? Do they have a good track record selling properties similar to yours? What other services do they offer? Rather than simply opting for the cheapest option, choose someone who you feel will use their knowledge and expertise to get you the best possible price for your home in the shortest amount of time, making the process smooth and easy for you.
So if you’re looking to sell your home, make sure you do your research first. Finding the right agent is a hugely important part of the process, and can make a difference to both the ease of process and the final selling price. After all, for most people, our homes are the biggest investment we will ever make in our lives, so it makes sense to put their sale in the hands of someone we trust.
How We Can Help
Once you’ve decided to sell your apartment, flat or house, you can rest assured that your sale will be taken care of. Our agents hold an esteemed position within the Birmingham property industry and have an insatiable appetite for the latest market trends. Our dedicated team are on hand to ensure that the process of selling your home is as straightforward and stress-free as possible. Use our free valuation tool and to receive your free property value estimate online instantly with James Laurence. Find out how much your property is worth hassle-free, based on up to date local market values. https://jameslaurenceuk.com/instant-valuation/