What Matters To Homeowners When Selling Their Home?

29th June 2021 posted in Sellers Buyers

You would think things are simple for homeowners when they sell their home. As long as they receive a set amount of money, and perhaps in a certain timeframe, they are going to be happy. This is the bottom line, and this is something we appreciate at Hunters West Hampstead.

However, things in life are rarely as simple as this.

We speak to a lot of homeowners, and we know a wide variety of issues matter. However, we make it our business to know these things, and this ensures we are well placed to help homeowners connect with buyers. We also know the local housing market very well.

Do you know the West Hampstead housing market?

According to Rightmove, as of the start of June 2021, the West Hampstead housing market can be described as such;

Properties in West Hampstead had an overall average price of £847,452 over the last year.

The majority of sales in West Hampstead during the last year were flats, selling for an average price of £728,448. Terraced properties sold for an average of £1,496,516, with semi-detached properties fetching £2,065,778.

Overall, sold prices in West Hampstead over the last year were 5% up on the previous year and 4% up on the 2018 peak of £817,844.”

What do homeowners want when selling their home?

A recent study looked at what matters to homeowners when selling their property, and this is the sort of information which is handy to know when making a move in the housing market.

The headline findings from the study, carried out by GetAgent, are as follows:

  • Homeowners wanted to achieve a sales price that was close to the marketed price of the property, this was cited by 37% of respondents
  • 30% of respondents were looking for a smooth sales process
  • Only 9% of respondents said a fast sales process was important
  • Being updated on the progress of the sale was only cited by 8% of respondents
  • 8% of respondents said that expertise and industry experience were important

Colby Short, Founder and CEO of GetAgent.co.uk, commented: “It’s only natural that many estate agents will attempt to stand out from the crowd by marketing themselves as the best around based on a wide variety of USPs. However, when it comes to homeowners, the only one they really care about is the price achieved and that it doesn’t differ too widely from the asking price that is often set by the agent. We know it’s common practice for many agents to overvalue in order to win business, but this research suggests it could be detrimental to their chances of winning business in the long term should they fail to deliver.”

Colby concludes by saying; “It’s also interesting to see that paying a low fee is of little importance to those looking to sell and this has no doubt come about due to many online agents failing to deliver on the service side of their proposition. However, it’s also interesting that the expertise and industry experience of a particular agent is also of little importance, as long as they can get the job done here and now.”

If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters West Hampstead today for all your housing and letting needs.