‘I want to find a property before I sell mine’
NO! – this is awful…
this is normally followed up with ‘because they sell very quick on my road’ or ‘my estate agent told me they wont have an issue with selling it quickly’ – both statements are in now way factual.
so why is this a bad options? … well…
1 – if everybody did the same thing, there wouldn’t be any properties on the market! to keep the market going there needs to be properties to sell, if everybody started doing this very quickly there would be a shortage in properties meaning less people ‘finding’ which will result in less people selling.
2 – when you find a property, you leave yourself open. it is very likely the agent you have found a property through will encourage you to sell through them, although this is no always a bad scenario i hear very few situations whereby this has worked nicely.
FACT – i met a couple recently, who i valued 2 years ago at another property, they invited me round to discuss marketing their current property, they discussed the situation whereby they sold their previous property, they found through ‘Agent 1’ – who told them they HAD to market their property with agent 1 if they wanted the new property, which they did.
what happened next? … well, the agent charged them a higher fee, because they would have to pay it, they also treated them awfully, the client felt there was a clear conflict of interest and found at numerous times the agent favouring with the other side rather than acting as their agent too.
which just goes to show its not a great idea.
3 – once your sold and have a complete chain, your offers have so much more substance behind them! – and you have a much better chance at getting an offer accepted.
4 – you maximise the amount you get for your property – why? well… sellers often take less than what they expected to in order to get a buyer quickly so they can secure the property they want, the basis of selling before you find means you maximise the amount you achieve.
the ONE thing that keeps coming up, time and time again is sellers saying ‘yeah but its taken me ages to find something and a buyer wont wait’ … well, this is your estate agents job, if he/she manage the expectations of your buyers properly from day 1 then they are willing to wait! i had a buyer agree a price on one of our properties in February 2016, and then completed in August 2017! so people WILL wait, providing the expectations are clear from the start.
so overall, im struggling to find any plausible reason or benefit in finding before you sell… can you?