Why being market ready is so important

Anyone that is looking at buying a selling a property at the moment knows that the housing market is the busiest that it has been for many years. Every house that comes to the market either won’t let you view unless you are in a position to proceed, already has a block viewing or “open house” going ahead which is fully booked or is sold before it even goes on-line. As a First Time Buyer or someone in rented accommodation, this is difficult enough of a position to be in; but what if you are trying to sell one and buy another? How you do work through trying to find a property and being in that ‘proceedable position’ whilst not feeling the pressure of a buyer who is desperate to move into your home and pushing for you to move out?

At Lawler & Co we understand the pressure that this brings. We understand the difficulties that sellers have in trying to find properties whilst selling their own and we understand how difficult it is to be in line for properties when they become available. We understand this from a personal perspective as we currently have a family member who is going through the process and is having the exact same issues.

Catch 22

Traditionally, when looking at buying and selling, there has been a “catch 22” scenario that always plays through a sellers mind – do you sell first and then try to find somewhere or do you find somewhere and then try to sell? An “All or Nothing” scenario. With the market conditions as they are, this has been somewhat taken out of sellers hands and they are almost ‘forced’ into selling first and being in the best position when a property does become available. However, sellers also know that most properties will sell quickly, with their own being no exception. Here at Lawler & Co, we have come up with an innovate solution that a number of our clients are taking advantage of at the moment.

Market Ready

This position we have called “Being Market Ready” or “Low Key Marketing”.

This is for those clients who have decided that Lawler & Co are the Estate Agent that they know will do the best for them, but you are slightly more cautious about putting their property fully live on the internet because they know it will sell quickly. For these clients we will position them in “Low Key Marketing”.

This means the client will sign contracts and will instruct Lawler & Co to be their Agent of choice. We will take all of the photographs, complete the 360⁰ virtual tour, we will complete the floorplan and write the description in readiness. We will ask you to approve it all and then we wait. If the client would like us to contact certain, specific buyers then we will; we won’t if they don’t. If the client would like to accept viewings from buyers in specific positions, then we will organise for them to be done; if they don’t, then we won’t. Then we will wait and we will help the client to find their next home.

Whilst a client is on “Low Key Marketing”, they are, absolutely, on the market.

What are the advantages to the client?

There are many advantages to the client that allow the buying and selling process to run a little more at their pace. These include:

· One of the first clients to be informed when a new property comes to the market that would meet their purchasing criteria

· Finding a middle ground between the “All or Nothing Catch 22” scenario that we discussed earlier

· Allowing the client to pick and choose who views the property and when, or not having anyone view in the first instance

· Putting the client into a strong position to view properties where agents won’t allow viewings from buyers who are not on the market

· Ensuring that when the client DOES find a property that they like, and DOES want to start fully marketing and DOES want to go live on the internet; then with the flick of a switch and the press of a button, all of that can happen within an instance and their home will be launched through the websites and onto property portals saving valuable time and putting them in the strongest position to purchase the house of their dreams.

It works!

“Low Key Marketing” or “Being Market Ready” has worked incredibly well for a number of our clients who we have been successful in selling their own home quickly and to the right buyers, finding them their dream home and taking out some of the pressure that comes with the whole buying and selling process.

For more information on how this process could work for you, please contact any of the Lawler & Co offices

Marple Office

36 Stockport Road
Marple
Stockport
SK6 6AB

Tel:
 0161 914 7620
marple@lawlerandcompany.co.uk

 

Hazel Grove Office

128 London Road
Hazel Grove
Stockport
SK7 4DJ

Tel: 0161 300 7144
hazelgrove@lawlerandcompany.co.uk

 

Poynton Office

60 Park Lane
Poynton
Cheshire
SK12 1RE

Tel: 01625 448 001
poynton@lawlerandcompany.co.uk

Is now the right time to sell your property portfolio?

Alan Cooper MARLA Hazel Grove Branch Manager talks about whether now is the right time to sell property portfolios.

We have been approached recently by a number of landlords enquiring about whether now is the right time to sell their portfolio of properties and whether there is a demand for properties with sitting tenants.

We have therefore looked at this and tried to give a balanced view.

Alan Cooper MARLA Hazel Grove Branch Manager
Alan Cooper MARLA Hazel Grove Branch Manager

Having dealt with rental properties for many years, we understand the pressures that landlords have been under in recent years. Legislation has been on the increase:

* The removal of tenants paying referencing fees;

* Mandatory EPC’s having to have a minimum of an ‘E’ rating;

* EICR Electrical reports now mandatory every 5 years;

* Installation of smoke and CO alarms;

* Changes to the “Right To Rent” legislation due to Brexit;

* Changes to Capital Gains Tax;

* Changes to “second home” stamp duty and

* Changes to the Digital Tax Regulations (MTD).

Whilst the EPC, EICR, and smoke/CO alarm changes (in conjunction with the Gas Safety Record) have certainly helped to ensure that rental properties are in a better, more efficient and safer condition, there is always an expense to be paid which (quite rightly), falls on the landlord.

The rental market through this period has remained strong and some of that expenditure has been absorbed due to the increase in rent.

However, there is more legislation being proposed and the “Renters Reform Bill” is due to be heard in parliament through 2022. If these do get passed it would be heralded as the most dramatic changes to tenant/landlord legislation since the the Landlord & Tenant Act in 1985. Some of the changes that are being proposed are:

* The scrapping of “no fault evictions” – in essence the scrapping of The Section 21 Notice and changes to the Section 8 notice with the process moving through the courts.

* Lifetime Deposits meaning tenants can move their deposit from one property to the next

* Rogue Landlords Database which can be accessed by tenants and agents

* Increasing the minimum EPC rating to “C” from the current “E”

* An amendment to the Dogs & Domestic Animals Accommodation Protection Bill which relates to tenants having pets at the property

These are due to be heard in Parliament this year but, at the time of writing, no date has been set.

Whilst the legislation has been changing, so have the rental figures that are being achieved and whilst the legislation can be seen as a “con” there are also “pro’s” to balance this out.

* You have a property that will continue to increase in value and can be sold

* You get a regular income on a monthly basis

So, is now the right time to sell your property portfolio?

House prices have never been higher and the demand for properties does not seem to be diminishing. We expect mortgage interest rates to continue to rise through this year and the phasing out of Mortgage Insurance and Tax Relief will continue to put additional pressure on landlords.

As a result, Lawler and Company have now established a section of our business to specifically cater for this section of the market. We can offer advice on whether to sell with a sitting tenant or whether to sell as an empty property; What sort of impact this has on the type of buyer that you are aiming the property at and how that impacts on the price that will be achieved; Whether to sell your portfolio as individual properties or to sell them as one portfolio; What method of sale will best suit your needs and we are able to offer special rates for landlords selling more than property.

Should you sell your rental portfolio? Our teams at Lawler & Co. are on call to help with this and any other queries you may have.

Marple Office

36 Stockport Road
Marple
Stockport
SK6 6AB

Tel:
 0161 914 7620
marple@lawlerandcompany.co.uk

 

Hazel Grove Office

128 London Road
Hazel Grove
Stockport
SK7 4DJ

Tel: 0161 300 7144
hazelgrove@lawlerandcompany.co.uk

 

Poynton Office

60 Park Lane
Poynton
Cheshire
SK12 1RE

Tel: 01625 448 001
poynton@lawlerandcompany.co.uk