What matters when selling your home

Published by: Tom Bloomfield

Before the arrival of the internet different things mattered when selling your home.

It mattered if you used a traditional estate agent and in turn it mattered if that agent had the right kind of buyers on their database. It mattered if they advertised your home in newspapers and magazines. It mattered if they produced a glossy brochure. It mattered if they had a prominent high street window.

The list goes on, consider the then usefulness of interconnected national branches, advertising in London offices and (don’t worry last one) press releases extolling the virtues of your home.

Fast forward half a generation and more than 90% of house buyers are searching online. This means the combined effects of the above have an almost insignificant effect on the interest a house generates and the price it achieves. So considering the relative cost of providing them, they can be sidelined as mediums for introducing buyers.
In the modern housing market, there are two areas of marketing that will principally influence any property’s sale price:

  1. Quality Online Marketing; how effectively a property is presented to the online audience.
  2. Reacting to Buyer Activity Efficiently; the efficiency with which enquiries, viewings, feedback, interested buyers, offers and sales progression are handled. 

An additional factor which will matter more to some homeowners than others is Vendor Involvement. In other words, how much is the owner having to do themselves? For example, are they accompanying their own viewings and taking their own photos?
We operate in the premium home market where many of our competitors regularly charge more than £15,000 for a completed sale. We believe that estate agents are justifying these fees using the pretence that internet marketing is merely “a small piece of the puzzle” and by claiming that the old methods are more influential than they are.

At the other end of the scale, there is the new breed of super-low-cost estate agents, working remotely from call centres. We think these firms are too cheap and so lack the capacity to be able to handle basic marketing and sales activity properly.

At Bloomfield Grey our focus is on efficiency. We try to do the things that matter in the modern housing market as well as they can be done and we disregard the rest. It means if you live in a premium home we can get you the best result, and charge you less for doing it.