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Homebuying
News This Season Showing homebuyers round yourself means a better service for them - and savings for you Stating boldly,
"It's a horrible carpet in here, but you could always take
it up", may not seem to be the obvious way to sell a flat,
but it seemed to work on prospective buyer Sammi. Owner Tim Perry, who was showing Sammi round his two-bedroom garden flat in Battersea, was able to answer questions about the boiler, security in the area, noise from upstairs, and could even explain the provenance of well-established date palm, fig and eucalyptus trees in the back garden - 'a former Greek owner'. Tim is selling his flat through a South London estate agency that encourages sellers to show their own homes through the 'open house' process. This method, which is common in the US, Australia, South Africa and even Scotland, involves the homeowner setting aside a couple of hours when he will make himself available to show his home to anyone who is interested. The advantage for the buyer, as Sammi points out, is more open information about the property and less estate agency-speak. But there are clear advantages for the seller, too. Tom says he was attracted to this agency process by its low flat-rate selling fee - just £1,500 when other agencies in the area would charge 1.5 to 2 per cent commission, generating a fee of at least £3,675 from his £245,000 asking price. A helpful lady spokesperson at the agency said the low price is possible only because owners are prepared to take a hands-on approach to showing their homes. 'If people want us to show buyers around we charge an extra fee - £20 for one buyer or £40 for a two-hour open house session,' she says. But even owners who have appointed agencies that normally show buyers around can benefit from handling showings themselves. Showing your own home means you don't have to hand your keys to anyone else. Owners also appreciate control over when their home is shown and knowing exactly when it has to look immaculate. One of my neighbours, a working mother with two children who recently sold her flat to move into a bigger home, bemoaned the fact she never knew when the estate agents were going to turn up next. 'We would get about 10 or 15 minutes' notice of their wanting to show someone around, which meant we had to do a mad clear-up and then take the kids out to the local coffee shop so the buyers could see the flat in peace.' Showing your own home doesn't always go smoothly. The last viewer of the evening to Tim's slightly Bohemian flat seemed not to be interested. He spent about 10 seconds in the living room and kitchen, whizzed through the back bedroom, spent slightly longer in the second bedroom to make sure a double-bed would fit and then zoomed off without asking a single question. Did Tim mind when people didn't like his home? 'No, what I really don't like is when they pretend to like it, but obviously don't. You can see them trying to think up something nice to say in each room. It's just a waste of time.' A follow-up call to the agency later in the week proved that first impressions can be deceptive, however - the seemingly disinterested buyer liked the flat and had booked a second viewing. The agency commentedthat this pattern of behaviour is quite common with men: 'They like to keep you on tenterhooks about whether they like the place. Women tend to take much longer over a view and ask a lot more questions.' Most importantly, owners should be careful to ensure their safety. Although agents usually claim to vet prospective buyers, this invariably involves ringing back on a landline to verify their identity, checking whether they've got a property to sell themselves, whether it's on the market, and whether they have sufficient funds to buy something in the price range they're considering. It does not ensure that they are not homicidal maniacs. 'We advise people who are nervous to arrange for a friend to be around while viewings are taking place,' says the agency. Sellers who are arranging viewings themselves, perhaps via an internet house sales site, should also make sure they provide a friend with contact details of the people who are coming to view. One week on from his last open house session, there have been two offers on Tim's flat and he is well on the way to achieving a price with which he is comfortable.
· Prepare your home in advance. Get rid of clutter, spread a lick of paint where necessary and make sure everything - shower, loo, lightbulbs - is working. Keep it clean and sweet smelling (agents advise candles and potpourri rather than air freshener), and lend the dog/children to a friend for the viewing session if possible. · Beware appointments around mealtimes: you may love kippers, your potential buyers might not. · Try the open-house system. Potential buyers may be encouraged to make an offer more quickly if they see others showing an interest. · Be welcoming. If this person buys your home, you may have to deal with them for several months, so try to develop a good working relationship from the start. Offer them a drink, but don't be overly friendly to the point where they might feel you are making advances. Don't act desperate - they'll wonder what's wrong. · Give the prospective buyer space. Give them a quick guided tour, so they can ask you questions, then let them look around by themselves. · If there are defects, point them out. They will come out in the surveyor's report, and this way you will earn the buyer's trust. · State from the outset what you are including in the price. You could even provide them with a printed list. · Don't
lie. If you're caught out on a small point, it will undermine everything
else you've said about your property!
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