October Newsletter - The importance of setting a realistic asking price

October Newsletter - The importance of setting a realistic asking price


In this month's edition, we focus on security in two ways. Firstly, Greenstone are members of ARLA Propertymark and how high standards, accountability and ongoing training ensure your property is looked after by a trusted agent and dedicated team. And secondly, if you’re a landlord or vendor concerned with empty properties, read a comprehensive guide to the Live-In Guardians service below.

There is a great article detailing why setting an appropriate asking price is so vital when selling your home.

And finally but certainly not least, we are delighted to announce we have just won another gold award ! Best overall Agent in NW8 - 2019 – read more below


How We Protect You - Greenstone, a member of ARLA Propertymark

Selecting an agent is fundamental to your ongoing sales or letting experience, the costs involved and how effective communications will be.

Click here to read How We Protect You - Greenstone, a member of ARLA Propertymark.



The importance of setting a realistic asking price

 
Recent analysis from comparison site Zoopla has shown the benefits that are reaped when a property is priced correctly rather than over-ambitiously, with overvalued properties taking up to two months longer to sell.

In addition to a longer sale period for properties which are overvalued, the research also found that by dropping the price in order to attract buyers, these properties also achieve an average asking price of £12,000 less than their more accurately valued counterparts.

“Our research highlights the importance of accurate pricing and reveals the areas where there is the healthiest alignment between a seller’s expectations and what a buyer is willing to pay for a property,” said Charlie Bryant, managing director of Zoopla.

“When a home is valued too ambitiously at the start, or simply overpriced, the sales process can be derailed. Homes can languish on the market for much longer than they should and the vendor loses control of the sale, often leading to price reductions,” he pointed out.

“The English and Welsh average sold price, amounts to 96.3% of the asking price, indicating a market realism, and moreover a market that is transacting good values, despite wider macro-economic and political concerns,” he added.

“The London market is no different," says Jonathan Singer, Sales Director at Greenstone. He continues “ marketing price has never been so key, this is certainly not the market to start with a high, over-ambitious asking price, planning to negotiate down if needed. We carefully analyse how much your property should achieve and create a clear and focused marketing plan with a realistic asking price that will generate footfall, and it is working."

This research shows the important part which an estate agent plays in those initial meetings, with an over-valuation extremely attractive at first, but damaging in the long-run. If you are thinking of selling your property, then complete your own research so that you can have open and honest conversations with your agent in order to list at a realistic value.

For more information or to discuss your property in more detail, please email jonathan@greenstone.com or call his DDI 0203 7800 193.



It's official; we're the best letting agent in NW8!

 
Greenstone Estates is very proud to announce that we've been recognised as allAgents' Best Letting Agent of the Year for NW8! 
 
It's a testament to the hard work that our team puts in every single day to provide our customers with the best service possible, and we couldn't be happier to see that effort recognised with this award. 
 
Don't forget, if you want to see what the fuss is all about, you can contact us to find out more about our prize-winning service, or browse our list of available lettings properties here. 



Why I recommend Live in Guardians to look after your empty properties

 
Having a valuable property unoccupied for weeks, or even months is a key concern for many landlords or vendors. You might have experienced it yourself, the dread of entering your empty property to find it broken into vandalised or even worse, receiving a call that your investment has gone up in smoke. We understand these worries and the stress they place on owners.

Having now worked with Live in Guardians first hand we believe their solution can solve the potential problems faced.

Find out more on how you can protect your vacant buildings and much more via their monthly blog here at Live-In-Guardians https://www.liveinguardians.com/

How Does Property Guardianship Work?
Property Guardianship is becoming the fastest-growing security solution for vacant commercial buildings for a key reason. We’ll get to this important factor soon – but for now, let’s look at the 5 easy steps to setting up a Guardianship Security Scheme, which you can do:

1. You give them a call or get in touch online.
Information they need about the property will include it’s location, general state of repair, as well as whether you know the property will be unoccupied for the foreseeable future, or if only for a couple of months, for example.

2. We make your property habitable for their Guardians.
This involves dedicating areas to kitchens, showering and bathroom facilities as well as allocating accommodation areas.

3. They access their (growing) waiting list of Guardians, cross-check their desired or acceptable locations to the location of your property – and send offers of Guardianship out.

However, priority is given to guardians who have been given notice at a property that is returning to the owner, to ensure they are not left without a property to stay in. From this the invitations will be extended to all guardians on our roster. Taking care of our dutiful guardians every step of the way.

4. Guardians move in and begin their duties.
They will ensure, through careful consideration of the lifestyles and working hours of their guardians that your property is safe guarded and not left empty.

5. As soon as you’re ready to move commercial tenants in or sell the property – let them know.

So, they can make alternative arrangements for the Guardians who have kept your property safe, clean and secure.

The Duties of a Property Guardian
“Your duties are to protect and preserve our client's property by residing at the property on a full time basis, reporting any threats and/or risks to the property from vandals, trespassers and squatters and reporting any issues (eg: leaks, broken windows) which may adversely affect the structural integrity and infrastructure of our client's property.” Advice and Instruction to Guardians with licence agreements with Live-In-Guardians

Guardians enjoy exceptionally low living-costs in some of the most expensive parts of the UK, and for the savvy young professionals (who must all be in full-time employment) and mature students, this is the best method for them to live in the capital. Therefore, they are diligent, reliable, serious about safety, maintenance and security. While they don’t expect them to engage in physical security with say, attempts at break-ins, they are required to summon the police immediately. Additionally, they are required to actively check for as well as report damage and wear and tear to your property so that we can keep you informed. In the extremely unlikely event that one of our guardians accidentally damages your property in any way, we’ll cover the cost of repairs out of the Damage Security Payment that a guardian pays us at the beginning of their work with us. This is a crucial factor in Live-in Guardians being a market leader in security solutions for commercial property owners.

Find out more on the vast amounts of money saved by utilising their services here

Live-In-Guardians are market-leading experts in guardian property services and vacant property management – to find out more, just ask!
You can find them on:

https://twitter.com/liveinguardians
https://www.instagram.com/livein_guardians/
https://www.linkedin.com/company/2984305/admin/
https://www.facebook.com/LiveInGuardiansLondon/