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Speed might not be everything when selling a property

Posted 28/02/2022 by Reeds Rains
Categories: Selling
Wooden blocks

When selling your home, you might think ‘speed is of the essence’ and be tempted by the promise of agents that they will sell it within a week or so, or even days, forgetting the compromises you could be making as a result. Here we take a look at what those might be and if, when considering them, speed really is everything.

Price achieved

Setting a low price for your property will inevitably get you a quick sale - especially in today’s market where demand is high - but that won’t necessarily achieve the best price. It’s more important that your agent sets the price right at the outset and then nurtures buyers over time. When your agent is really working to earn their commission, they make sure the competition to buy your home increases which should lead to a higher price being achieved. A quick sale does not necessarily get you the best price.  

Quality of Buyer

Buyers come along all the time with promises to buy, and pledges to move fast, but again time will often tell whether they are seriously committed to buying your home. Having an agent that takes time to find serious buyers i.e. those that are in the best financial position to buy (ideally without a property to sell themselves) means it’s more likely that the purchase will go ahead. And, time also means you’ll be more likely to have a few buyers interested in your property so, if the initial buyer does pull out or is unable to sell their own property, you’ll still have other buyers 'on the side-lines' to step in.

Your next home

A quick offer and acceptance may lead buyers to assume that you want to move fast but that might not always be the case. Whilst it’s always a good idea to have your property on the market before you start looking for your next new home, inevitably there will be times when you just can’t find your next home and when more time would be of benefit. If that’s the case, you may have to compromise by moving into rented accommodation - or perhaps a relative’s home - or risk losing your buyer altogether.  

Whatever you decide you want from your sale ultimately it’s important that you feel in control. You need to understand what the likelihood is of selling your property (and at what price), what the costs and time commitments might be and make sure you have an agent that considers the bigger picture. Sometimes selling quickly sounds good but, in reality, it sometimes isn’t.

If you’d like to find out how Reeds Rains can help you in selling your house, why not book a free market valuation today or alternatively contact one of our branches to find out what your options might be - within the timescales you’d like.

BOOK A FREE MARKET VALUATION

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