Our Guide to Selling your Home

Our Guide to Selling
your Home
Different in so many ways
1
Selling with Bassets
Contents
Introduction....................................................2
Selling With Bassets.......................................3
Marketing Your Home....................................4
Securing You A Buyer.....................................6
Progressing Your Sale ....................................8
Conveyancing & Mortgage Processes.........10
Tips & Advice.................................................12
An Agent You Can Trust................................16
M
y wife and I set up Bassets in 2002 in a small office on a back street in Salisbury.
We were not estate agents by trade, but knowing what a poor reputation the
industry had and having bought and sold several times, we were sure that we could do
things a lot better.
Estate agency isn’t a rocket science. To me, it’s about providing our clients with peace of
mind and a stress-free move by combining our own skills with proactive marketing and
a sound knowledge of the conveyancing and mortgage processes.
By selling with Bassets, you will find the whole experience straightforward, highly professional and
hopefully even enjoyable! This is for two main reasons.
The sales process
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» Markring you a b SALE
» Secu SSING YOUR
» PROGRE
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Your key objectives as a seller are directly linked
with the three parts of the sales process.
The overall sales process breaks down into:
Firstly, we excel across the whole sales process working proactively at all times to market your home,
secure you a suitable buyer and progress your sale smoothly through to completion.
1.marketing your home
Secondly, everything we do is aimed at achieving your key objectives:
3.progressing your sale to completion
• to sell quickly…
• for the best possible price…
• and with the minimum of stress.
This Guide explains what good estate agents (and Bassets in particular) do to justify the commission you
pay them and also provides you with some helpful tips on selling.
The first section explains the three stages which make up the overall ‘selling experience’, how each
stage relates to your objectives and what we do to ensure that we excel in every area. We also break
down the conveyancing and mortgage parts of the sales process to make them more understandable.
The second section includes advice on lots of topics such as how to choose the right estate agent and
what to do to help sell your home quickly.
Wherever your property is located, our offices in Salisbury, Amesbury and Fordingbridge will be happy to
help – not just to sell your home, but also to help you ‘make the right move’.
So please put your trust, and your home, in our safe hands - and let our award-winning service do
the rest!
Many thanks,
David Clayton FNAEA CPEA MARLA
Managing Director
www.bassets.co.uk
Your key objectives
Quick
Sale
L OCAWLL E D GE
KNO
Introduction
2
Our key skills
2.securing you a suitable buyer
Although many agents are great at selling
themselves when valuing your home, their
companies are rarely as good at marketing it
proactively. Even fewer are good at encouraging
offers and negotiating hard to secure you a suitable
buyer at the right price. And fewer still put much
effort into liaising with solicitors and others to keep
your sale on track.
Our ability to excel in all three areas relies heavily
on all our staff having the knowledge, skills and
expertise to get the job done and working together
as a team.
Local Knowledge, Skills & Expertise
Our Sales teams are recruited primarily based
on their knowledge of the local area as well as
on their people, sales and communication skills.
Induction and on-the-job training then builds up
both their knowledge of estate agency and their
understanding of how to ensure that we deliver
on all fronts. And each member of staff must then
study for and pass their formal industry exams
within six months.
Different in so many ways
Best
Possible
Price
StressFree
MOVE
Some of the key skills used during the selling
process are:
Valuation Skills
• Using our knowledge of the local market and
current market trends to advise you on the
best strategy for selling your home.
Marketing Skills
• Advertising your home extensively and in a
targeted way to reach the right buyers.
• Showcasing your property to the full on
viewings.
Sales Skills
• Encouraging potential buyers to come and
see your home and then encouraging them
to offer.
Negotiation Skills
• Negotiating hard to achieve the best possible
price for you - and to protect that price if the
buyer wants to renegotiate at any stage!
Communication Skills
• Keeping in touch with all parties at all
times, highlighting and resolving potential
problems quickly.
3
Marketing your home – To Achieve A Quick Sale
8 Week REVIEW
You need an agent who is going to be realistic about the asking price they recommend and who will
focus their marketing efforts on generating early interest and securing a buyer when your home is new
to the market.
If we haven’t secured a buyer during the first 8 weeks, then we will talk with you to develop a
new plan of action to ensure we get your property sold.
But how proactive will they be in phoning out to
potential buyers? Will all staff come and see it first?
How regularly and extensively will they advertise it?
Will experienced staff, who really know your home
and the local area, always conduct viewings?
At Bassets, we know that it is crucial to price
your home correctly at the start. And our
extensive, targeted and pro-active approach to
marketing is purposely focussed on securing
you a buyer within the first 8 weeks.
0
61%
On the agenda would be:
• Discussing the viewing levels and feed back
to date and considering whether any home
improvements might help secure a buyer.
• Reviewing your home’s performance on
Rightmove and reviewing any recent changes
within the local market (e.g. are similar
properties selling or being reduced in price).
• Refreshing the marketing brochure with new
photos and text.
• Considering other ideas such as promoting an
‘open house’ to generate more viewings.
100
In 2012, we secured a sale on
61% of our sold properties
within the first 8 weeks.
8 Week Marketing Plan
Before marketing
We will agree with you the best marketing and
pricing strategy for your home.
Next, all the sales team will come and view
your home.
At the same time, we will produce a marketing
brochure within 48 hours including floor plans
and sharp, bright photos.
When you are happy with the brochure, we will
automatically upload all the details, photographs
and floor plans to:
• www.bassets.co.uk and other local websites.
• www.rightmove.co.uk and other national
websites.
• Several Facebook property pages.
Going ‘Live’
As soon as your property is ‘live’, we will
immediately:
• Phone all ‘hot’ buyers to encourage them
to view.
• Email the brochure to all potentially suitable
applicants and follow this up with a phone call.
• Advertise your home in our office window.
• Order a ‘For Sale’ board (if agreed).
4
Ongoing Marketing:
• Regular Exposure Locally
»» We guarantee to advertise your home at
least three times in the local property paper.
»» We will submit an editorial to the local paper.
• Unique Viewings
»» Only experienced staff (who know your
home and the local area) will conduct
viewings.
»» All viewings will be undertaken using a
detailed viewing questionnaire (completed
by you) so we can tell potential buyers all
about your home.
• Regular Communication
»» Feedback from viewings will be given
to you within 24 hours and will also be
available for you to access 24/7 on-line
through our website.
»» We will report more formally to you every
three weeks on how your property is doing
on Rightmove, what the housing market is
doing and whether we would recommend
any change in approach or strategy.
“From the initial valuation of our home to us
appointing them, Bassets were brilliant. Photos
were taken, our house was on the internet the
next day and the day after that we started to
have viewings and then an offer.
Four days in all to find us a buyer We couldn’t ask for a better service!”
(Mr & Mrs W - Amesbury)
www.bassets.co.uk
Different in so many ways
5
Securing you a buyer - At The Best Possible Price
Getting the price right initially and being proactive about marketing is key. But now you need an
agent who is able to generate early interest in your home and who will negotiate hard on any offers
received to achieve the best price possible.
How proactive will your agent be in encouraging
viewers to offer? Will they succeed in generating a
competitive situation where potential buyers are
under pressure to offer more? Will they negotiate
hard to get the best possible price? Will they
properly qualify buyers and explain their position
to you clearly when putting offers forward?
At Bassets, our extensive and targeted
approach to marketing generates genuine
early viewings and offers. This creates
competition for your home and we can then
use our negotiation skills to get the best
possible price for you.
0
98%
100
In 2012, Bassets achieved 98%
of the asking price on average
across all our sold properties.
How do we do it?
• Getting the pricing and marketing strategy
right from the start.
• Generating as much interest as possible
within the first 8 weeks through our
extensive and targeted marketing.
• Showing your home in its best possible light
during viewings.
REALISTIC ASKING
PRICE
+
EXTENSIVE &
TARGETTED
MARKETING
EARLY INTEREST
& COMPETITION
• Encouraging offers wherever possible.
• Ensuring that potential buyers know about
other interested parties - so they will need to
be competitive with their offers!
• Negotiating skilfully throughout to get you
the best price possible.
SKILFUL
NEGOTIATION
BEST
POSSIBLE
PRICE
“Such a great service… You sold our
bungalow within 6 weeks of advertising
at the full asking price, even with
the market the way it is! We wouldn’t
hesitate to recommend you to anyone.”
(2012 ESTA Testimonial)
6
www.bassets.co.uk
Different in so many ways
7
Progressing your Sale - to Ensure a Stress-free Move
Having now secured a buyer, you need an agent to be highly organised and proactive in getting the
sale moving quickly. Then, your agent needs to stay in regular contact with you, your buyers and
both sets of solicitors to keep the sale progressing smoothly.
How proactive will the agent be in getting
a mortgage valuation and survey booked in
early on? Will they check to ensure that the
buyer has instructed their solicitor and paid
any ‘search monies’ promptly? Will they keep
in close contact with your buyers so that
any issues can be resolved quickly? Will you
have access to a dedicated member of staff
responsible for progressing your sale through
to completion?
At Bassets, we recognise that this is the
most important part of the whole process.
Your sale will be progressed by a dedicated
member of staff. They will liaise regularly
with all parties involved so that any issues
are raised and resolved quickly.
We will do our very best to smooth out
as many bumps as possible by acting
professionally, skilfully, knowledgeably and
proactively at all times.
The ‘conveyancing’ and ‘mortgage’ parts of
progressing the sale are the most complex – and
emotions can easily run high resulting in the sale
falling through for no good reason! The flow chart
on the next page shows the different stages of
each process and how they link together at the
end so that contracts can be exchanged.
Our sales teams have a detailed knowledge of
the processes involved and how to identify and
deal with problems quickly to keep your sale on
track – and your blood pressure down!
0
16%
100
30% of property sales across the UK typically fall
through before completing each year. At Bassets,
our fall through rate in 2012 was just 16%.
0
95%
Other ways that we can alleviate some of the
stress include:
• Identifying any potential issues when we
first market your home so that these can be
relayed to buyers in the right way before any
sale is agreed.
• Providing you with a dedicated person in
the office to follow your sale through to
completion.
• Providing regular updates by email and
phone on how your sale is progressing.
• Explaining clearly any potential problems
or issues which arise and obtaining all the
information necessary so that you can make an
informed decision on how to move forwards.
• Providing you with on-line access through
our website so you can check up 24/7 on the
progress being made.
“Although I had a stroke while the sale was going through, the whole
team seemed to work tirelessly to make sure that the sale went through
quickly and smoothly. I cannot thank you enough.” (Mrs W - Salisbury)
100
In the 2012 Estate Agent of the Year Awards (ESTAs),
Bassets received an average ‘service’ score of 95%, the
second highest of all the UK ‘s small estate agencies.
Progressing just one sale through to completion can be complicated - the diagram below shows
some of the parties typically involved in a sale. And the more properties in the chain, the more
involved – and stressful - it can get!
“Bassets sold
my late parents’
home in a very
professional manner
and with a high level
of kindness and
understanding.”
(Mr S - Fordingbridge)
8
www.bassets.co.uk
Different in so many ways
9
Conveyancing Process
Mortgage / Survey Process
Bassets qualifies buyer
Conveyancing (Seller)
Conveyancing (Buyer)
depending on lender
EITHER
OR
SURVEY not OK
SURVEY
OK
SURVEY not OK
10
www.bassets.co.uk
Different in so many ways
11
Tips & Advice
Q2. Should I “find” somewhere first or should I “sell” first?
It is vital nowadays to put your home on the
market first.
Q1. How do I choose the right agent?
Speak to friends and family close by to see which agents they have used or would recommend, then check
out their websites and facebook pages.
Next, invite three agents to value your home and ask them questions such as:
Marketing Your Home
Progressing Your Sale
Agent’s Terms
What asking price do they
recommend and why?
NB Ensure that they give you
clear evidence to back this up
What steps will the agent take to
check your potential buyer is in
a good position to proceed and
has the financial ability to do so?
How many weeks will they tie
you in for?
NB Any longer than 10 weeks
should be considered carefully!
How quickly would they
expect to have a buyer for you
and what is the lowest price
you should expect to achieve?
How proactive will the agent be
at chasing the return of forms,
the payment of search monies
and the arranging of surveys/
valuations to ensure that the
sale gets going quickly?
How many weeks’ notice will
you have to give if you want to
change agents?
Where and how regularly do they
plan to advertise your property?
NB Regular paper advertising is
vital (see Q3 opposite)!
What types of buyers will your
property appeal to most and how
will they reach those buyers?
Who will conduct the viewings
and how will they ensure
that buyers are given full
information about your
property and the local area
and amenities?
How will the agent ensure that
they will get the best price
possible from the the buyers?
Who within the office will take
personal responsibility for
progressing the sale and what
technical training have they
received on the conveyancing
and mortgage processes?
How regularly will they liaise
with solicitors and update you
with progress?
How will they ensure that any
potential issues are picked up
and resolved promptly (before
they become a major issue)?
What is the agent’s published
‘fall through rate’ for their sales?
Don’t simply choose the agent who
gives you the highest valuation
Don’t simply choose the agent who
gives you the lowest fee
12
What is their selling fee and
are there any other costs you
should know about?
Why? So that we can find you a buyer and
negotiate to get you the best price possible. Then
you can go and search in earnest for a property
to move to and negotiate hard on your purchase.
This way, you remain in control of the process and
save money!
Q3. How important is it to advertise regularly in the local property papers?
Most agents will only advertise your property
once in the local papers – twice if you ask them
very nicely or create a fuss! Their reason: “Everyone
looks on-line”.
This is absolutely wrong - the reason they don’t
advertise regularly is because it costs them money!
Salisbury, Amesbury and Fordingbridge are very
traditional areas. Many buyers live locally and buy
• based on the sale price or
the initial asking price?
NB It should be on the sale price!
What is the cost of an Energy
Certificate and, if it being
offered free, how much is the
withdrawal charge if you decide
not to sell or to change agents?
Instead make an informed choice - there is nothing
worse than going onto the market over priced in
the first place!
Also, good agents are worth their weight in gold.
For an extra few hundred £s, you will get more than
your money back from a good agent who works
and negotiates hard to secure you a quicker sale
at a higher price and who provides you with a far
better, more stress-free service.
www.bassets.co.uk
the local property paper, looking through it over
the weekend before then searching out more
detailed information on-line.
The table below shows the results of a study
conducted by Bassets in 2012 comparing the
interest received on two different types of
property when they were on the websites and in
the property paper during the same week.
% Enquiries/Viewings
(Paper Advert)
% Enquiries/Viewings
(Websites)
Bungalow
46%
54%
Two Bedroom Property
21%
79%
Is the fee
• subject to a minimum (eg.
£2,000 + VAT)?; or
If instead, you find your dream property first and
then put your own on the market, you are likely
to feel duty bound to put in a high offer to show
the seller how committed you are even though
you haven’t sold. Then, you will feel pressurised
to sell your own home for less than it is worth,
creating stress and anguish and losing you
money in the process!
This shows that even for a smaller property, one
in five potential buyers still respond to paper
advertising. This increases to almost one in two for
bungalows. Not a market you should be missing out
on just because most agents are penny-pinching!
At Bassets, we will advertise your home at
least three times during the crucial first 8 week
period to maximise your exposure and help
secure you a buyer quickly.
Q4. How will Bassets advertise our home using Social Media?
Whether you use it yourself or not, four out of five
internet users visit social networking sites such as
facebook. At Bassets, we recognise how important
social media is becoming as a means of marketing
your home to a wider audience.
With that in mind, we will advertise your home
through facebook more widely than almost any
other agent locally.
The state of the art property search function on our
own Facebook page doesn’t require buyers to have a
Facebook account to view it. The search also allows:
Different in so many ways
• Potential buyers to ‘like’ your home and send it
to their friends with one click; and
• You to post a comment to tell everyone how
much you’ve enjoyed living in the property,
which you can then share with all your friends.
Your home will also be listed on a variety of other
facebook pages and portals.
There is no doubt that social media can help
significantly in getting you a quick sale!
13
Q5. What would you single out as Bassets’ unique selling point?
We are different to other agents in many ways,
however if we had to pick just one thing, it would
have to relate to ‘Viewings’.
The viewing process is the most under-valued and
under-utilised role in estate agency, with many
agents sending out staff who are ill-equipped and
poorly-informed to do the job.
Our unique viewing service involves:
• All staff viewing your home before it comes
onto the market so they can ‘push the right
buttons’ when encouraging buyers to come
and view.
• Recognising that each viewing represents a
prime opportunity for us to ‘sell’ your home –
the potential buyers are a ‘captive audience’,
so we make the most of it!
Q7. What is an EPC and why do I need one?
• how much the improvements are likely to
cost; and
EPC stands for Energy Performance Certificate.
It is a legal requirement for sellers of most
properties to have paid for an EPC before
marketing can start.
• Conducting viewings using a tried and
tested format which ensures that we show
your home in the best possible light, whilst
highlighting any potential issues buyers may
have so we have a chance to overcome them
before it’s too late!
• how much money you might save each year.
The EPC also provides information on the
Government’s new Green Deal scheme. Basically,
if you want to make your property more energy
efficient but don’t have the money, you can pay
for certain improvements by paying an additional
amount on top of your monthly bill to your utility
company.
The EPC should cost less than £100 and it lasts
for 10 years. The penalty is £200 a day if you are
caught without one.
• Proactively using a detailed Viewing
Questionnaire (completed by you) so we can
talk sensibly and knowledgeably to buyers
about the property (questions would include
how long you have lived there, what sorts of
neighbours you have, what guarantees are
available and when the boiler was last serviced).
A qualified “Domestic Energy Assessor” will
need to visit your home for about 45 minutes.
Their main objective is to assess how energy
efficient your home is, and the assessment results
EPCs came into force on 1st October 2008, so any
in a score. The certificate then builds on this,
property which has been sold or let out since
• Accompanied viewings 6 days
• Regular inspection visits to
• Transparent ‘all inclusive’
identifying
services with no hidden
a week
the property then should already have a certificate. If you
charges!
• Preparation of a professional
to have
utility companies
lost yours, then don’t worry - we can retrieve
• what
score and
the property
if• Notification
• Advice
on Buying-To-Let
Inventory /could
Schedule achieve
of
of change of occupation and
letting out your property
Condition
meter
readings
it
on-line
within a few seconds free of charge.
certain improvements were made;
Summary of our Services
• Prompting buyers for balanced feedback and
finding out how the property ranks with others
they have seen. Feedback is then given to you
promptly, and is also available on-line through
our website using a secure login 24/7.
• Advice and assistance on
complying with ever changing
Regulations and Legislation
• Pro-active marketing in our
three Town/City Centre offices
and on numerous national and
local websites
• Thorough Tenant Referencing
using a specialist agency
• Collection of Rent and the
pursuing of arrears
• Preparation of all Tenancy
Agreements and Notices
• Prompt payment of rental
income into your bank account
OFfice contact• details
Award winning service from
• Detailed monthly and annual
statements
experienced, professional staff
Salisbury
Q6. As sellers, what can we do to help get a quick sale?
Before Marketing
• Fix any outstanding DIY jobs.
• Prioritise carefully when spending money on
improvements and if redecorating.
• Make rooms look lighter and brighter as this
will show off the space better.
• Do one room well and finish it rather than lots
of rooms half-heartedly!
• Give your property real ‘kerb appeal’ by
ensuring your drive, front garden and porch
make a good first impression.
• De-clutter and de-personalise rooms (you can
store as much in the garage as you want!).
• Make sure that as much floor space as
possible is visible to viewers (if necessary,
move furniture to the edges of the room to
help with this).
Before a Viewing
• Leave your home tidy and make sure that it
smells clean (if you have pets).
• Leave space for viewers to park.
• Go out and take any dogs with you.
• Dress the dining table with some fresh flowers
or a fruit bowl.
14
27 Castle Street
Salisbury SP1 1TT
When You Have an Offer
• Listen carefully to any information given to
you by the agent regarding those offering on
your property and their ‘buying position’. A
good agent will advise you on how to proceed
to enable them to negotiate the best price
possible for you.
A303
A345
Phone: (01722) 415141
Email Sales: [email protected]
A360
A303
A36
A36
Amesbury
A303
• If you do have a best and final offer from
a ‘good’ buyer which is perhaps slightly
lower than you wanted, then don’t reject it
completely. Instead, ask the potential buyer to
wait while you go and view some properties
yourself. Try making an offer based on the
lower offer you are considering and see how
you get on!
A338
A36
A36
15 High Street
Amesbury SP4 7ET
A30
Phone: (01980) 676722
Email Sales: [email protected]
A36
A354
A36
A338
Once the Sale is Agreed
Fordingbridge
• Negotiate hard on any onward purchase
(please ask us for tips).
31 High Street
Fordingbridge SP6 1AS
• Choose a good and proactive local solicitor
(please ask for recommendations).
• Complete all the legal paperwork and return it
to your solicitor quickly.
• Keep calm – issues often come up from the
survey or via solicitors. We will always be there
to help and advise the best way to overcome
any minor issues before they grow into a
bigger problem.
www.bassets.co.uk
A354
A338
8
@basset1
Bassets In
The Community
A31
Phone: (01425) 200690
Email Sales: [email protected]
Salisbury
Property Hub
Different in so many ways
15
An Agent you can trust
2012 ESTA Awards
Faye Chandler, Jill Gannon and David Clayton of
Bassets with TV’s Phil Spencer
Professional Accountability
Bassets is a member of the National Association of
Estate Agents (effectively our industry body) with all
staff having to study and pass the Technical Award in
Residential Sales within six months of joining.
We are also a member of The Property Ombudsman
Scheme (if ever you have a complaint) and also of the
Office of Fair Trading.
Preferred Partner
Our Salisbury Office has been selected to be part
of the Guild of Professional Estate Agents and two
major part exchange and asset companies have
chosen us as their local partner agent for 2013.
In April 2012, we were voted the
UK’s 2nd best small estate agency,
(see photo) an improvement of the
previous three years where we had
been the top agent in just Wiltshire,
Hampshire and Dorset.
Supporting Our Local Communities
Each office has a designated budget to spend each
year on local charities and community projects.
The activities and organisations we support and/
or sponsor include the Great Amesbury Duck
Race, the Fordingbridge Players, the Winterslow
Amateur Dramatics company, The Unit (a children’s
charity in Salisbury), the Amesbury, Durrington and
Fordingbridge Shows and many more.
We also support several larger local charities
including The Trussell Trust, the Salisbury Foodbank,
the Dogs Trust and the Rotary Club of Salisbury.
Also, all our staff spend one working day each year
working within the community.
Award Winning Service
The ESTAs is a national competition open to all estate
agents across the country. It is the only one in our
industry which is based on anonymous customer
feedback. Buyers and sellers score us on the quality
of the service provided throughout the marketing
and buying/selling process.
16
This approach helped Bassets to win the Salisbury
Chamber of Commerce ‘Business Commitment to
the Community Award’ in 2011.
Friend of
www.bassets.co.uk