Harrods Estates

London Property Sales

Even in a difficult market, the golden rules for selling a property do not change

What a difference a few months can make! There is little arguing that in today’s cooling market, owners need to work hard at selling their property. The days when putting a home up for sale and waiting for competing offers to come pouring in are long gone, so how do sellers deal with this new reality?

Realistic pricing is the answer; an upbeat market can be accommodating even when a property is not priced correctly, but in a challenging market, price is usually a make it or break it factor. Buyers are more price-sensitive and know that they are in a superior negotiation position. Also, in difficult market conditions, it is wise to accept that it can take considerably longer to sell a property.
So what makes a house sell? A successful sale requires focusing on a number of factors; bur most importantly the asking price must reflect current market expectations. The location of the property is obviously a huge factor. Prime Central London areas such as Knightsbridge, Belgravia or Mayfair will retain their value as they are extremely sought after areas. Over recent months, Harrods Estates have seen an increase in the number of sales in prime Central London, in particular in the exclusive portered developments. In fact, a record pound per square foot was achieved in one of these developments earlier in the year proving that even in a recession, good quality, sought after property – sells. Buyers seeking property in high end areas will generally also require first class security for their home and family, 24 hour portage and secure parking. Properties must be presented well and be clean and clutter free. When interior designing, go for neutral colors and top class appliances which are in keeping with the luxury nature of the property and will hopefully create a scene that a potential purchaser can see themselves living in.

If you have any enquiries or need friendly advice on all aspects of selling your property, Feel free to contact Harrods Estates’ Knightsbridge office on +44 (0) 20 7225 6506 and Mayfair on +44 (0) 20 7409 9001.