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Selling Your Home in an Economic Downturn

Selling Your Home in an Economic Downturn

What with one thing and another – mainly Brexit, Covid, the war in Ukraine and the ‘mini budget’ introduced during Liz Truss’ brief period in office – the last few years have been somewhat turbulent for the UK’s finances.

As a result, we have seen a weakened economy, rates of inflation not seen for generations, higher mortgages, lower house prices and people with less money in their pockets and without the confidence to commit to long-term financial decisions. Not to mention banks and building societies being less willing to lend at the levels they previously had been doing.

If you’re looking to sell your house under these circumstances, it can all look like the worst possible set of circumstances. But don’t despair, because with a bit of planning, making the best use of the tools at your disposal and engaging the services of reliable and professional estate agents, it is still possible to come out the other end on top.

This month, to help you through these difficult times if you need to sell your home, we’ve put together a brief guide to selling a property in an economic downturn.

estate agent showround

 

Remember that prices are going down for buyers as well as sellers

If you’re selling your home in order to buy another, don’t get too hung up on the fact that your home is suddenly worth less than you had been hoping for, because where you’re losing out as a seller, you might well be gaining as a buyer. 

Yes, some areas are performing better or worse than others, but overall the general trend across the country is going to be similar, so the news shouldn’t be all bad.

Present your home in its best light

With fewer buyers around, it’s more important than ever that you do everything you can to catch their attention and stand out from the crowd. At the same time, don’t waste money making upgrades and improvements that may not be to the taste of others. If there’s something you think is worth doing that might add value, make sure your viewers’ attention is drawn to that potential.

Decluttering your home before putting it on the market has been shown to be one of the best ways of making others see your home in a positive light. Not only does it give the impression of being larger than might actually be the case, but having less furniture and less junk lying around also makes it much easier for viewers to assess how they might fit their own belongings into the space.

Be realistic about your selling price

Remember that – unlike the professional valuers at Robert Ellis – not all estate agents are going to be completely honest when it comes to their valuations. Some might give a lower price than a house is worth to try and get a quick sale with the least amount of effort, while others will overinflate their valuations to make homeowners think they’re going to get more from the sale than is realistic.

We’re used to shopping around when we’re looking for our next home, but it can be just as important when selling. So do your research into recent sales in your area to get a good idea of what your house might be worth before inviting anyone in to provide a valuation. 

Make the most of modern tools to reach the widest possible audience

Don’t be afraid to try different things to bring people’s attention to your home. Social media isn’t just about funny cat videos and pictures of your dinner – you can also use it to promote your listing, especially on platforms that are predominantly visual in nature. If you have plenty of friends and followers in the right area, it should be relatively easy to reach lots of potential buyers.

Sites like Rightmove, Zoopla and onthemarket.com will be drawing in the active hunters, but the vastly bigger numbers on social media give you the chance to be seen by people who may not even know they’re ready to start looking for their next home yet.

Use a reliable estate agent with proven local knowledge

 

Choosing the right estate agent can be half the battle when it comes to selling a house. Someone who will not only give you a realistic valuation (as already mentioned), but will also understand the local property market, be prepared to take the time to give you practical advice and have the reach and nous to get your property in front of as many genuinely interested pairs of eyes as possible. 

In the same way that you should do your research on house prices, it’s also well worth taking the time to research potential estate agents. By reading their reviews, finding out what proactive steps they are going to take to sell your property, and seeing how well they are showing off other homes they’re trying to sell will all give you an idea of whether they are to be trusted to do a good job.

 

Here at Robert Ellis Estate Agents, we’re proud to be Nottingham’s Number 1 Estate Agent. Despite the economic downturn the country has been experiencing, we’ve continued to have a high turnover of properties across all the areas we work in, from Arnold and Stapleford to Beeston and Long Eaton.

Discover why we’re so trusted by sellers across Nottingham by getting in touch with our friendly and experienced team today.

Robert Ellis Team

About Robert Ellis

Robert Ellis is a leading estate agent that has been facilitating house sales and rentals for customers across Nottingham and the surrounding towns and villages for over 35 years. They have branches in Beeston, Long Eaton, Arnold and Stapleford offering residential and commercial sales and lettings, property management services and mortgage advice. With houses, flats and commercial premises to suit all tastes, budgets and preferences, the team at Robert Ellis provides a friendly and comprehensive service for buyers, sellers, landlords and tenants alike.

Their expertise in all areas of the property market is reflected in the positive reviews they have received from previous customers, with a rating of 4.9 out of 5 from over 2,500 reviews on Reviews.io. They are also multiple Gold-winning estate and lettings agents in the British Property Awards 2022-2023 and received a Gold Award for both sales and lettings in the Best Estate Agent Guide 2023.

To find out more about Robert Ellis estate and letting agents you can read our about us page here

Find Your Nearest Robert Ellis Branch

Our happy, experienced team can lighten your workload and brighten up your day

Arnold Sales & Lettings

78 Front Street,

Arnold,

Nottingham

NG5 7EJ

0115 6485 485 Find Out More

Beeston Estate Agents

12 High Road,

Beeston,

Nottingham

NG9 2JP

0115 922 0888 Find Out More

Beeston Lettings

130 High Road,

Beeston,

Nottingham

NG9 2LN

0115 922 9090 Find Out More

Long Eaton Estate Agents

5 Derby Road,

Long Eaton,

Nottingham

NG10 1LU

0115 946 1818 Find Out More

Long Eaton Lettings

11 Derby Road,

Long Eaton,

Nottingham

NG10 1LU

0115 946 6946 Find Out More

Stapleford Lettings

30 – 32 Derby Road,

Stapleford,

Nottingham

NG9 7AA

0115 949 6740 Find Out More

Stapleford Sales

30 – 32 Derby Road,

Stapleford,

Nottingham

NG9 7AA

0115 949 0044 Find Out More

The Mortgage Company

50 – 52 Market Place,

Long Eaton,

Nottingham

NG10 1LT

0115 951 8898 Find Out More

Arnold Sales & Lettings

Beeston Estate Agents

Beeston Lettings

Long Eaton Estate Agents

Long Eaton Lettings

Stapleford Lettings

Stapleford Sales

The Mortgage Company

Find Your Nearest Robert Ellis Branch

Our happy, experienced team can lighten your workload and brighten up your day

Arnold Sales & Lettings

Arnold Sales & Lettings

78 Front Street,

Arnold,

Nottingham

NG5 7EJ

0115 6485 485 Find Out More
Beeston Estate Agents

Beeston Estate Agents

12 High Road,

Beeston,

Nottingham

NG9 2JP

0115 922 0888 Find Out More
Beeston Lettings

Beeston Lettings

130 High Road,

Beeston,

Nottingham

NG9 2LN

0115 922 9090 Find Out More
Long Eaton Estate Agents

Long Eaton Estate Agents

5 Derby Road,

Long Eaton,

Nottingham

NG10 1LU

0115 946 1818 Find Out More
Long Eaton Lettings

Long Eaton Lettings

11 Derby Road,

Long Eaton,

Nottingham

NG10 1LU

0115 946 6946 Find Out More
Stapleford Lettings

Stapleford Lettings

30 – 32 Derby Road,

Stapleford,

Nottingham

NG9 7AA

0115 949 6740 Find Out More
Stapleford Sales

Stapleford Sales

30 – 32 Derby Road,

Stapleford,

Nottingham

NG9 7AA

0115 949 0044 Find Out More
The Mortgage Company

The Mortgage Company

50 – 52 Market Place,

Long Eaton,

Nottingham

NG10 1LT

0115 951 8898 Find Out More

-/5

Verified customer feedback

- rating based on

- reviews

Excellent

  • David

    We have received excellent service from your Long Eaton Office especially from Caroline who has been extremely helpful & a calming & knowledgeable inf...luence especially with our purchase of a new build property. We have not dealt with your estate agency before & although very stressful at times for ourselves, as our first prospective purchaser pulled out, Caroline was very helpful & approachable & contacted us regularly to keep us updated on progress. I can't recommend her highly enough. Many thanks again Caroline Best regards Liz & David

    3 days ago

  • Adrian

    Even in a fairly difficult house sale , the staff at Robert Ellis were very knowledgeable and supportive . I'd also like to give a special thanks to J...oely who was particularly helpful in the whole process . Thanks to all the team , and I would certainly recommend Robert Ellis to anyone else . Thanks , Adrian Bowley

    4 days ago

  • Rachael

    Harry Hackett and Joely Golding at the Long Eaton branch were wonderful! They were so helpful and would come at the drop of a hat to let us into the p...roperty to view, measure up and get quotes ahead of the completion date. They even offered advice on options for inside the property, which we have taken on. Everything was super efficient and we would highly recommend them! 😊

    4 days ago

  • Yulan

    Caroline has been very helpful, always friendly during our process of selling our house.

    1 week ago

  • Pam

    Wonderful staff, especially Holly, nothing too much trouble. Kept informed of progress throughout the sale. Helped all the way.

    1 week ago

  • David Green

    Thank you to Holly Who was all ways able and willing to offer advise And always available . Dealt with my enquires straight away and always return...my calls. I Never felt that anything was to much trouble for her. Excellent service.

    1 week ago

  • Emma Thrall

    It hasn't been an easy journey but Holly Torr at long eaton has kept us up to date and sane throughout the process thanks Holly!

    1 week ago

  • Rae Murphy

    Absolutely recommend purchasing through Robert Ellis Stapleford - especially happy with Beth at the branch. She was amazing from start to finish!

    1 week ago

  • Sally-Ann Roberts

    Brilliant service, was notified every step of the sale and a really friendly team .

    1 week ago

  • Mark

    Dawn was wonderful, helping me to sell my home and find a new one that I had not considered. She kept me informaed throughout and was always available...to help. Thank you Dawn.

    1 week ago

  • Frankie

    I would like to thank Joely at the Long Eaton office for her kind help and quick responses throughout the home buying process. Highly recommended...for her service. Wish to give her a 10* rating if I could!

    2 weeks ago

  • Gayle

    What a long journey this house sale has been - lots of ups and downs (due to 2 failed sales - not due to Robert Ellis) ....so lots of stress. This jou...rney has defintely been made much more tolerable by the lovely relationship we have established with Joely and Holly. They have kept us well informed and always been available to update us with honest, reliable information. Joely, in the later stages of negotiations even responded, on what I know, were days off work. I have so appreciated being able to speak to the team when required.. always caring and respectful and had empathy and understanding. We have received and very professional but personal service I feel. Highly recommend.

    2 weeks ago

  • Lynne

    Excellent service, our sale went through smoothly and we were kept up to date on progress by Holly Torr at every stage. Very professional and will be...more than happy to recommend.

    2 weeks ago

  • Kathryn

    Joely was fantastic during our first house purchase. She was professional and worked hard to push things along, and was always lovely to interact with...if we had questions or wanted updates. I wouldn't hesitate to recommend Robert Ellis based on our experience with Joely!

    2 weeks ago

  • Sue

    Joely is absolutely amazing. She looked after us from start to finish with the sale of our property!

    2 weeks ago

  • Toni

    Dawn Stokes at Robert Ellis has done an amazing job in helping me to sell my family home - more like 10 stars not 5 :) so efficient and always on the...ball - Thanks Dawn xx

    2 weeks ago

  • Brian Mason

    This is the 2nd property we have sold with Robert Ellis on both occasions they have been so professional and helpful along the process cannot thank th...em enough Beth once again went that extra mile thank you

    2 weeks ago

  • Jill Woodall

    I was delighted with the service I received from everyone at Robert Ellis in Stapleford. Nathan Henshaw knew exactly how to market my house, and at w...hat price, which was achieved within two weeks, during which time I was pleased to have at least seven different viewings of my property. All the young women who answered the phone in the Stapleford office were unfailingly helpful, friendly and eager to please. Claire Greensmith worked really hard during the last couple of weeks before my Exchange and Completion (when the various solicitors involved appeared to be delaying matters) and she was invaluable at keeping me informed of what was happening when solicitors failed to contact me. I would like to thank them all for their excellent service.

    3 weeks ago

  • Ken B

    Took care of our business from start to finish, friendly and helpful staff always at hand to smooth out any problems or queries, a pleasure to have do...ne business with them. 5 Star service all round.

    3 weeks ago

  • Anna Farjam

    Staffs were friendly and approachable.

    4 weeks ago