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It is ironic that as the property market slows and the buyer’s position becomes stronger, those buyers are proving bashful when it comes to making an offer.
"If you like a house in today’s market, don’t back off," says Edward Church, of Strutt & Parker, Canterbury. "Remember that the price quoted for a property is a guide, not a retail price.
"There are plenty of houses out there and quite a few buyers, but everyone’s confidence has been knocked by the credit crunch and the economic slowdown. At the moment the market is threatening to stagnate because buyers are nervous of making the first move.
"Making an offer gets the ball rolling by starting a dialogue. It may not be accepted, but it will at least kick-start the buying process."
As for vendors whose property is languishing, a relaunch may be the answer, says Edward. This means repositioning the property in the market by rethinking the price and readvertising. But there’s no point running the same campaign again; the key to a successful relaunch is lateral thinking – reaching out to new buyers, repackaging your property.
Setting the correct guide price is vital if you are to target the correct level of the market.
"Don’t make a modest reduction," adds Edward.
"Be bold and aim at an entirely different level to attract new buyers. If the market has fallen by 10 per cent and you cut your asking price by 10 per cent, you are still operating at the same level in which you have been unsuccessful up to now. So there’s no point reducing the price from say £750,000 to £725,000; go for £650,000 and snare a whole new buyer bracket.
"You can then approach a new sale price from underneath, attracting enough interest to boost the final price. It may surprise you to learn that we are still, from time to time, selling houses at a price in excess of the guide.
"When it comes to marketing, don’t necessarily reuse the same old photographs and descriptions. If they haven’t worked so far, they probably won’t work in the future, so repetition is pointless. Different pictures will make a property look fresh to the market.
"Rewriting the particulars gives you the chance to refocus your property’s appeal. For example, instead of itemising three bedrooms, dressing room and play-room, state simply "five bedrooms".
"Finally, do remember to keep the outside looking presentable. Potential buyers will make a point of driving past before making an appointment to view, and if the driveway is untidy or the paintwork shabby they could be put off before they ever contact us."
It’s an effort when a property has been on the market for a long time, "but it really is worth keeping the gravel raked and the beds weeded", advises Edward.