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Ever Fallen for the “Buy Cheap – Buy Twice” Trap?

mouse trap

What’s the difference between an estate agent and a great estate agent?

I can tell you – its 4% of your asking price.

According to extensive research, the average estate agency achieves just 95% of the asking price whereas great agents achieve 99-100% (at Helmores we achieved 99.1% average during the whole of 2019). On a £500,000 house, that 4% difference equates to £20,000 more for your house… that’s a lot of money! So we can agree that choosing a great estate agent is crucial?

As with anything good, great, extra-ordinary or premium service, it’s slightly more expensive but BETTER VALUE overall.

How many times have you opted for the cheaper option, only to have to return and buy the quality option. As the saying goes, buy cheap, buy twice.

Estate Agents are no different, there are the good, the bad, the ugly and the remarkable. A bit like surgeons… some have carried out lots of procedures and so have more experience and knowledge, some have only just started and could more easily make a mistake.  When it comes to estate agents and negotiation, it’s no different.

Picture this… You have a house which you’re planning on marketing at £500,000.

Agent 1 is offering to sell it for 1% but has a track record of achieving 96% of asking price and agent 2 is offering 2% but has a track record of achieving 99%… which is the cheaper agent? Agent 1 right?

No, of course not!

Agent 2 is because they’re more likely to achieve you £15,000 more for your house but only charge you £5,000 more so you’re £10,000 BETTER OFF at the end… that’s what it’s all about… the END amount of money in you’re left with IN YOUR POCKET

A great tool is the estate agent performance comparison website here: www.getagent.co.uk   – it will show you which agents are achieving the best prices in your area.

Thanks for reading – if you have any comments or questions feel free to post below, or get in touch, I’d love to hear from you!

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Find a buyer or find a house to buy?

Probably the most common ‘chicken or the egg’ question I get asked is:  Should I find a suitable house to buy and THEN put my house on the market or secure a buyer first THEN start looking?

So here goes…my advice is that you should find a BUYER FIRST (assuming you need to sell your current property to buy your next).

Why? I have listed just a few reasons below:

If you are ‘proceedable’ (i.e. are able to proceed with the purchase if your offer is accepted), the reality is you will be taken more seriously by the seller and the estate agent

If you fall in love with a house (because buying a house is an emotional decision), and then put your house on the market, it is unlikely the person selling your dream home will take it off the market and wait for you to sell. This increases the chances of you losing the house which will always put  you under more pressure to sell your own property which could result in you accepting a lesser price, not to mention increasing your stress levels!

With a buyer behind you, you are likely to be able to negotiate a better price rather than saying ‘I can pay X amount WHEN I have a buyer for my house and IF I get the price I am expecting’’

Until you have an offer on your property (whether you’ve accepted it or not) you don’t REALLY know how much money you have available to spend on your next house.

Hopefully you would have done your research by speaking to estate agents, browsing online and driving round some areas you wish to buy in before even deciding to sell to make sure your expectations are realistic and by all means start viewing some potentially suitable houses to make sure what you will want to buy is realistic, but don’t get too emotional and try not to fall in love with a house until you have an offer on your property.

Thanks for reading if you have any comments feel free to post them below – I’d love to hear from you!

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Busting the January Property Market Myth in Crediton

In this 90-second read, we reveal why there’s a lot more happening in January than new diets, broken resolutions and returning to normality.

“Nothing happens in January, does it?”

It’s a question we hear a lot from homeowners in Crediton who are thinking of selling but considering putting things off until spring.

While that statement might be true about the number of events on people’s social calendars, it doesn’t apply to the property market because there’s plenty of activity happening.

The truth is January sees five out of the ten busiest property searching days on the internet, according to the portal Rightmove.

The five dates when new home seeking souls hit the web in huge numbers are:

  1. 13th January
  2. 21st January
  3. 27th January
  4. 2nd January
  5. 12th January

January is a time when serious buyers re-enter the market. It’s a time when the people most motivated to change where they live get moving and start looking with real intent, as the above stats shows. 

So, things do happen in the Crediton property market in January.

We’ve already seen buyer confidence returning following the General Election.

Now is an ideal time to get your home on the market and get noticed by those record internet numbers throughout January.

Plus, if you put your home up for sale this month, you’ll avoid the spring stampede and stand out from the crowd.

Feel free to get in touch with us for a chat about what we can make happen for you this month.

Thanks for reading and from all the team at Helmores we wish you a happy, healthy and successful 2020.

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Why we prefer to do your viewings – without you there!

Male First Time Buyer Looking Around House For Renovation With Realtor

When you’re selling your home, you might want to ask your agent if you can be present at the house viewings. It’s your home, after all. However, there are quite a few things to think about before you decide to trail after the agent and the nice couple with the two children at the viewing…

Off putting – If you were looking round a home, would you want the sellers on your heels? A seller presence can make buyers feel awkward. Buyers need to feel comfortable as they look at a potential home; it’s a big decision for them, and they really want to be able to snoop everywhere, whether this means looking in cupboards or peering out of windows. If the seller is standing there, buyers might feel reluctant to explore, and therefore might actually miss aspects of the property they’d be able to see if they had freedom to search without caution. This could be loss for them and you.

Chatty – As much as you probably want to tell the buyers every exciting aspect of your home, less is sometimes better than more when it comes to a sale. Too much chatter can be off putting when they just want to look around and ask a few questions.

Emotions – When it’s your home, it is easy to bring your emotions into the sale. A buyer could ask the agent a question about an aspect of the home they don’t like or want to change, and after the viewing could ask for a reduction in price. If the seller is at the viewing, they could presume the price reduction is due to the cosmetic changes, and will want to refuse to change the price. Emotions and house sales don’t mix.

Are there any exceptions to being present at a house viewing? If you prefer to be at home during house viewings, sit in the garden or another room while the viewing takes place. This means that you’re around for questions if the buyers have any about personal aspects of the property. If you hear any negative comments, resist jumping on the defense, and see it as something that you could actually change to increase the chance of your home selling.

Remember, caring is sharing – if you found this post useful, I’d love you to give it share!

Want to know more?  I’d love to hear from you!
[email protected]
01363 777999

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Got Black Friday Frenzy?

In this 90 second read, we explore the history of the shopping frenzy that is Black Friday and how it made its way to the UK.

Dental floss, microwave ovens, Mickey Mouse and traffic lights are just a few inventions that America has given the world.

Our cousins across the pond have also given us the NFL, stand-up comedy and something that’s happening this week – Black Friday.

Unless you’ve been living in a cave for the past ten or so years, you’ll know that Black Friday is when businesses heavily discount their products and services.

It has been a tradition in America for decades which sees businesses mark the day after Thanksgiving Day (always held on the fourth Thursday in November) with the equivalent of our Boxing Day Sales.

The term Black Friday was first used back in 1869 to describe a financial crash rather than a discounted shopping extravaganza.

It’s first thought to have come to the UK in 2010, and it’s no surprise that online giants Amazon are credited with being the first business to make a big thing of it on these shores.

Along with the UK and USA, Black Friday has become increasingly popular in other countries across the globe including Brazil, India, France, Norway, Romania and Germany.

At Helmores, our first port of call is always to use local independent shops in Crediton to bag a bargain, before looking towards online giants and chain stores.

Remember folks sharing is caring, so if you found this article interesting please share it on social media and tag a friend or forward it to them.

Thanks for reading!

Black Friday Sale

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What surgeons and selling your property have in common!

Team of professional surgeons performing surgery in hospital
If you found out tomorrow you needed to have open heart surgery, what kind of questions would spring to mind?

Here’s what I’d be asking…

What’s the success rate?

What are the risks?

What’s the experience of the surgeon? Both in terms of qualifications and number procedures carried out?

And maybe a few more too.

We can all agree that the more experience someone has in doing something, the more successful they will be at it, right?

So, back to selling your property

In my 15 years selling property, I can count on 1 hand the number of times I’ve been asked questions like:

What are the risks? (by the way, there are many when embarking on moving house)

What’s your experience? (how long have you been an agent and how many sales have you handled?)

What’s your success rate? (both in terms of % of asking price achieved, days to secure a buyer and sale agreed to exchange success rate)

So why?

Why don’t people ask these questions when they’re clearly REALLY important when it comes to having a smooth, minimal stress, successful sale?

Many people ask what are your fees and how much can you get for my house… then choose either the highest valuation or lowest fees, or both.

Yet 75% of the population don’t trust estate agents… maybe that’s because 75% of the population choose the wrong estate because they aren’t choosing based on enough research or the right questions!

You can see what I’m getting at here right?  Smoothly handling property sales (and negotiating the best outcome for a client) requires skill, practice, expertise, commitment and experience. Not £900 and a login area to get your house on rightmove.co.uk.

The ONE thing I would like you to take from this if you are planning on moving house/sell a property… THINK! It might sound cheap, but what is the overall cost?

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The Property Market in Crediton has Insomnia and here’s why

In this two-minute read, we pull back the covers to see why the property market in Crediton has insomnia and discover that’s no bad thing for local property owners. PLUS, three bonus tips on getting a good night’s sleep.

The floor to ceiling coverage of the General Election may have you dozing off.

The seemingly never-ending story called Brexit might be sending you off to sleep.

And with Christmas starting to creep into our consciousness you may well feel in need of a lie-down.

But allow us to shatter a sleep myth. Counting sheep doesn’t work folks.

Another myth is that the property market in Crediton goes to sleep at this time of year, and then wakes up again in mid-January.

The truth is the property market locally has insomnia.

Yes, it certainly calms down in the run-up to an election or Christmas, but good estate agencies understand it never enters the realm of deep sleep if you know what you’re doing.

That’s because serious buyers are always out there, many want to be in their new homes in early 2020, so they are searching with real intent right now.

This means putting your property on the market in November gives you a great chance of getting in front of these wide-awake potential buyers.

There’s always a section of buyers who must move regardless of elections, political uncertainty or looming festive periods and seasonal shutdowns. And our database has plenty of them poised to leap out of bed should the right home become available.

Getting your property on the market now could prove to be your best decision of 2019.

But don’t lose sleep over it.

However, if you do struggle to get a good night’s sleep, you’ll find sweet dreams are made of these three top tips.

1) Have a regular bedtime and getting up time. (Easier said than done if you have small children).
2) Switch your phone off at 8 pm, swap your tablet / iPad for a book and let your brain and body unwind.
3) Avoid caffeine, alcohol and strenuous exercise before hitting the hay as these all stimulate parts of the mind and body that make drifting off into deep sleep much harder to achieve.

Remember folks sharing is caring, so if you found this article interesting please share it on social media and tag a friend or forward it to them.Insomnia 1

 

 

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How to avoid a Home Insurance Horror Show

In this two-minute read we look at how you can avoid scary problems with your home and buildings insurance. AND the essential items people regularly forget to cover.

It’s scare season again and few things are more chilling than discovering your home isn’t correctly insured.

Buildings and contents insurance is like an umbrella in a downpour – you only realise its value when the rain is lashing down.

It can sometimes feel that insurance companies are trying to trick you with some of the questions they ask.

This Halloween we’ve treated you to these top tips which will help you and your loved ones steer clear of a dreaded insurance nightmare on your street.

2810 Scary house

Treat: Be aware of the difference between buildings and contents insurance. A common mistake people make is only insuring their contents thinking the building is covered and vice versa. Buildings insurance generally covers structural and fixtures and fittings.

Trick: Don’t undervalue your contents. It’s a mistake to undervalue your home’s contents thinking that you will save a few quid on the monthly/annual premiums you’ll pay. If you must make a claim this short-sighted approach can leave you seriously out of pocket.

Treat: Combined Buildings and Home insurance can often (but not always) be cheaper when bought together, so it’s worth looking into this when you are purchasing a policy.

Trick: If you run your business from home you need to let your insurers know. You may need a different type of cover if this is the case.

Treat: The golden rule to avoid any insurance claim calamities is to be as upfront and honest as possible from the outset.

Trick: When it comes to very high-value items (artwork, family heirlooms etc) it’s worth remembering these can seriously push up your premiums when included with the rest of your home’s contents. Consider looking into covering these separately with a specialist insurer.

Treat: What can be more scream-inducing than discovering all your downloaded films and music have been lost? Not all policies cover your downloaded music and movies so check this out when looking at different policies. This is THE most overlooked aspect of home insurance in the digital age.

2810 SkeletonsTrick: And finally, the scariest of all spine-tingling insurance nightmares is forgetting to renew cover. So, think ahead – when you buy a new policy set yourself a diary reminder two weeks before it ends because it pays to shop around for cover.

You don’t want to live with FOFS (Fear of Forgetting Stuff) lurking in the deepest, darkest corners of your mind.
And if any landlords are reading this it’s vital you check you have the correct insurances in place.

We’d be happy to have a chat with you about what kind of policies you need.

Thanks for reading and wishing you a happy Halloween!

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Can a drone really help sell a property?

Google Maps have been offering aerial views for some time, I am sure we have all had a good look around to see what’s local to us and found it interesting, it’s especially useful if you are looking to purchase a property in that area.  Google Maps uses satellite images and details are often a little out of focus, that is not so when using a top of the range drone with DSLR camera attached as used by Helmores Estate Agents – one of our fleet of drones!

There are many advantages to offering our drone footage service and we find it surprising not more estate agents have taken to the use of them, though understand the cost and training involved may be preventative for some.  Fortunately, I have always been keen on gadgets and kept up to date with new technology as it arises.  I completed my drone pilot’s training back in 2013 and have “Permission for Commercial Operations” certificate which allows me to lawfully and safely carry out drone photography and video.

Drones cannot work for every property we sell, there are rules and regulations that must be complied with, however for the right property their use can really help show off the setting.  They will show the property as a whole, the layout of the gardens and grounds and spectacular Devon countryside surrounding it.  Drone footage allows a prospective buyer to see far more than they would from ordinary sales particulars, a bit of drama can be added with the right music and before you know it the viewings are lining up!  

We are very fortunate in Devon, it’s very rare any aerial footage will show anything untoward, we are surrounded by so much beautiful countryside.

Check out some of our aerial images that we’ve shot over the past few years:

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How does your home smell?

Smell of Coffee

Whilst your home might be flawless in your own eyes, there are certain things that can instantly put buyers off. We aren’t talking furniture or dodgy décor (although, try to modernise if possible), but aspects of the house that can turn a nose up in a second. With this in mind, we have put together our tips-  3 things to look out for, before the buyers descend…

Bad Smells – Even if your home resembles something from Good Housekeeping’s most desirable homes pages, if there’s a whiff in the air, the buyers are going to care. House smells are top of the list when it comes to putting buyers off. Smells range from cigarette smoke and pets, to mould and mildew lingering in the air. Unfortunately, noses become accustomed to certain smells over time, so ask someone who doesn’t live in your home to smell the air. Don’t be offended if you don’t like the answer; they’re helping you out. Get rid of any bed smells so potential buyers come in to a fresh and clean atmosphere, not one that is filled with spray to cover the smells.

Canva - Wake Up Smell the Coffee Wall Decoratio

Unclean bathrooms – The bathroom is one of the most important rooms that people like to keep clean. A bathroom can make people dislike your home immediately if it isn’t spotless; if the bathroom is grubby and has mildew, they will wonder what other dirt lurks beneath the surface of your property. Extra cleaning is a must if you want to sell your home. Scrub your bathroom to perfection, paint the chipped walls, put in a new rug and fresh towels, and buy a clean shower curtain. Open the windows when buyers are looking around to let in some fresh air.

Damp Rooms – If you have a basement and don’t use it as a functioning room, you may experience some damp issues. Often it is caused by rainwater seeping into the foundations, and doesn’t necessarily mean you have a fault within the grounds. However, buyers won’t see it like this. If they smell damp, they think cost, or a delay in moving in while the damp is removed. Or even worse, recurring damp problems. This is a red light. To remove damp smells, determine where any water from outside is going. The smell could be caused by the drains being clogged, or rain gutters full of leaves. Investigate and resolve, or lose a sale.

Little things can make a big difference, and any effort you spend now will all be worth it later!