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Lock & key are professional and attentive estate agents with excellent local experience of pricing and sales. We instructed this firm after the death of my father and the need to sell his large house which was in need of some updating. A suitable buyer was quickly found at a fair price, which has now proceeded to completion with all parties very satisfied. Highly recommended agency.
James Pierce, Semington, April 2019
'Nigel was by far the most proactive of the estate agents in Melksham marketing our property and due to his dynamic approach and ability to think outside the box we were able to secure a buyer in the shortest possible time.'
Thank you Lock & Key
Sue & Mark Paddon, Skylark Road, Melksham
Interestingly I have noticed prospective buyers are increasingly waking up to the fact that the current window of opportunity could slam shut in the event of a Brexit deal and are being more proactive and Lock & key yet again are reporting strong sales figures with delighted clients now sold STC.
There’s a huge amount of pent-up demand out there and it’s starting to come through. Underlying demand has strengthened as potential buyers respond to the current price adjustments.
The adage that a chain is only as strong as its weakest link could not be more aptly demonstrated than in respect of property transactions in the UK.
Whilst a lot of agents focus on finding a buyer, which is obviously important, it is the quality of that buyer and their situation that will determine whether the sale is likely to proceed to a successful conclusion. But what if the buyers themselves have a property to sell?
"Nigel and his team are absolutely superb. Their knowledge of the area and the market is exceptional and, above all, they are decent and nice people to work with. Nigel's valuation of our house was spot on, and everyone at Lock & Key was always happy to answer any questions we had. I wouldn't hesitate to recommend Lock & Key above any other agent I have dealt with in the Melksham area."
Toby & Steena Martin, Lacock
Good negotiation is a skill that adds real value to the service you receive from your estate agent. After all it can be the make or break of a sale.
Many agents focus on “getting the maximum price” for their client, the property vendor. So do we. However, we also recognise that the vendor’s main objective is actually to move house! There is no point in losing a sale by trying to force an unreasonably high figure out of a buyer who might have otherwise bought the property. Or to agree a sale only to find the buyer later regrets it and pulls out. They might even proceed right up to the point of exchange and then reduce their offer (known as gazundering) leaving you forced to accept the reduction or lose not only your sale but possibly your purchase as well!
Please don’t be alarmed! These are worst case scenarios, but not unheard of. The point is that good negotiation is being able to understand the objectives of buyer and seller alike and seeking to achieve the highest realistic figure for the seller with due regard to all parties concerned.
This does not just mean bartering, with each party nudging up or down respectively until some middle line is met. It means your agent using every available resource to justify your price in the context of current market conditions. It also means understanding the buyer’s perspective, their needs, preferences, finances and their flexibility in compromising over certain issues.
We are proud not only of the prices our well-trained negotiators are able to secure for our clients, but also of our very low fall-through rate, which we attribute significantly to ensuring that the right deal is struck from day one, with both parties feeling they have “won”.
If you’d like to take advantage of our negotiating skills we’d love the opportunity to advise on your sale. Please call Melksham’s Top Selling estate agent on 01225 707342 for a confidential appraisal.
Sensation sells! The press is having a field day with all sorts of Brexit-related headlines and claims about how the current state of confusion is negatively impacting on the housing market. The reality is that latest figures published by respected sources support our own view that it’s not quite a buyers’ market yet, even though, according to the Nationwide, house prices are just 0.4% higher than this time last year.
The latest Propertymark Housing Report found that NAEA members report a 2.3% monthly drop in the number of house hunters registered per branch. Yet, in the same period, property supply fell by 14%. So, although there would appear to be a softening of activity, demand continues to significantly outstrip supply. Any talk of a property crash is substantially misplaced. Anyone thinking of selling this spring would be well advised to bring this forward asap!
One of the most important aspects of your estate agent’s role is not only to negotiate a price (or ideally secure the full asking price of course) but to generate an offer in the first place! Too many agents simply see themselves as people who show buyers around property, hoping that an offer will be forthcoming as a result. It probably won’t!
Purchasing a property is potentially such a big decision that even if a buyer prefers your property to all the others they have seen, they may still feel reluctant to progress to the offer stage. It can appear “safer” for them to keep looking – just in case they miss out on an even better property!
The layman’s view of an estate agent is simply someone who shows prospective buyers round properties. Whilst understandable, this simplistic perspective belies the fact that the well-trained agent knows how to maximise the viewing opportunity with the specific objective of prompting a sale.
Whilst “showing someone round” might appear straightforward, vendors who do this themselves as opposed to allowing their agent to do so may be missing out on opportunities on several fronts.
It’s a funny old thing, the British housing market. Just when you might expect the political uncertainty prompted by the “B” word to dull the market further, it leaps! That’s the way things look from where we’re standing anyway! Not only have we experienced an extremely strong start to the year, both in terms of new instructions and offers agreed, but this appears to be supported across the board.
The phrase “Willing and Able” is seldom heard today, as it no longer appears on estate agency documentation. However, it remains important to discover if a prospective buyer for your property is indeed willing and able to proceed, should they express interest in your home.
This is especially the case today, when people are finding it harder to get a mortgage than they did last time they bought. But apart from the obvious financial issues governing the buyer’s “ability” to proceed, there are several other things a good agent will seek to discover when deciding whether or not any offer from the buyer is worth recommending to the vendor (although all are bound to be submitted to the vendor by law)
One of the best questions we ask our buyers is “What has prompted your move?” The answer to this often goes right to the heart of why they are moving. Only then can we offer them properties which will satisfy that need.
Another critical question is “when do you hope to move?” If they say “sometime in the next 12 months” the chance of them buying soon is low. Most good buyers know what they need to achieve, and they usually have a date in mind. This date is often linked to school term times, a new job starting, baby due, etc, or it may be to satisfy an acute frustration such as journey time to work. Only when the agent knows what sort of timeframe the buyer has in mind can he/she begin to gauge the buyer’s motivation and hence their willingness to move.
Additionally, finding out where they are in the moving cycle can also help us to help you as a vendor. Have they sold their own house yet? If so, what do they understand by the term “sold”!
There’s more than meets the eye to qualifying buyers, we know this at Lock & Key and this knowledge is an ingredient to our success in helping people move. If you’d like your own sale handled with kid gloves, you know who to call!