We have all heard the saying, but what does it mean in today’s consumer-driven society which has adopted the mantra “here today, gone tomorrow”?
When it comes to the Residential Property Market in England and Wales, it could apply to how long it takes to push a sale of a property through, or how long it takes to secure a new tenant for an empty rental property.
Whichever side of the property market you are on, you want to know that your time is being used effectively. That is why the award-winning people at Martin Kemps have produced some key guidelines for sellers and landlords, that should hopefully maximise your time and ultimately save you money.
SELLING A PROPERTY
- Choose your estate agent wisely. Pick three local agents, with an established reputation, to visit your property and provide you with a comprehensive appraisal of what they hope it should achieve. This figure should be based on fact, comparable evidence, not “pluck a figure out of the air”. They agent who provides you with the best evidence to support the price should also be the one who is offering the best, all round service. DO NOT choose on fee alone. Remember, your time is valuable, so if you up chasing your agent, it’s your time you;re wasting.
- Choose, and instruct, your solicitor at the same time as you instruct your agent. It will shave 4 weeks of the process later on.
- Make sure you know everything about your buyer and their circumstances. Make sure they are using a reputable solicitor, that your agent has financially verified them and that their timescale to move is in line with yours.
- Ask your agent for weekly updates on the sale. Make notes of what your agent tells you and compare it what your solicitor tells you. That way, you can spot a problem early on, when it coudl possibly be resolved
LETTING A PROPERTY
- If you have tenants in residence, make sure they’re on your side for when the agent does viewings.
- Choose your agent wisely, because the wrong tenant in your property, for 12 months, could be costly.
- What service do you want from your agent? Do they “outsource” the management to a central hub? As with selling, if you’re having to chase your agent about something quite trivial, it’s your time you’re eating up.
- Ask about your prospective new tenants. Why wouldn’t you?
So, there you have it. A brief expectation whether you’re selling or letting a property.
For a more comprehensive breakdown of what to expect from your agent, why not call Martin Kemps on 01296 422171