Selling prime central London property is different from selling property in any other part of London. The properties are unique, and the audience smaller and more select. Buyers who want to purchase prime London property will have certain expectations and specific requirements. In order to attract these buyers, you’ll want to engage a property agent with knowledge of the prime central London market – someone who knows how to sell high-end property to the right audience, whether they be domestic or overseas buyers.
You might be a landlord looking to sell a luxury flat you used to let out, or you might be selling your former home, but either way, you’re selling a property in one of London’s most prestigious residential enclaves to buyers who want a property which meets their brief and expectations. To succeed in achieving the best sale, you will need an agent who has experience of selling similar properties to yours.
Get the timing right
This varies. Typically we see more domestic buyers in Kensington and Chelsea, so late January and Spring tend to be the best time to put a property on the market in these areas. Belgravia, Mayfair and Knightsbridge often appeal to overseas buyers, and anytime during the summer can be a good time to put a property on the market in these areas. However, this varies from property to property, so it makes sense to consult a property agent with knowledge of property buying trends in the local area.
Get the property appraisal right
This is where knowledge of the local market plays a key role. A local agent will be able to provide an appraisal based on evidence of recent transactions in the area. They will also know what types of property tend to sell quickly and what takes longer to sell, while taking into account the condition and location of the property. An accurate sales valuation is crucial.
Get the marketing approach right
Not only does the property need to be marketed to the right audience, but it needs to be marketed and advertised in the right way. This can mean being advertised off-market or on the open market. Some prime properties are sold for a premium off-market, or are sold in the normal way but are not advertised online or in the estate agent’s window. Selling off-market suits many high-end buyers, as they like to know the property has not been openly advertised. Some vendors might choose to test the waters and see if they can sell to an off-market buyer first before advertising the property on the open market. For a vendor with a high-value property to sell, the property can be marketed to the right audience in a quieter way, if the vendor chooses.
For a property that is advertised on the open market, the property can be marketed via national and international print media and online. It is always good to choose a local property agent with a strong local presence as this will help to put your property in front of the right audience.
Find a committed buyer
The agent has to work hard to make sure they find a buyer who remains committed to purchasing the property. This involves making sure prospective buyers are only shown a property which meets their brief, and they are given all the information they need to make an informed decision.
Selling some of the finest properties in London is no easy task, no matter how appealing a property is to a potential buyer. A proactive, local estate agent is the most important thing – an agent who knows how to sell and market high-end property to the right buyers at the right time.