Christies Network Auctions – Last chance to sell before Christmas

The next auction being held by Christies Network Auctions is being held at the Grosvenor House Hotel on London’s Park Lane on 8th December at 2pm.

Auctions are a superb way of selling a wide variety of property as the transaction is secured as soon as the auctioneer’s gavel falls. The December auction is the last Christies Network Auctions auction of 2016 and will, as usual be streamed live from the room at www.networkauctions.co.uk

There is still time to include lots for sale and have them included in the December catalogue.

Jeremy Richardson of Christies Network Auctions said: “Once again our partnership with Network Auctions is enabling us to provide clients with an alternative route to selling property of all types and across all price ranges. We welcome the opportunity to discuss how selling by auction or using our unique and highly successful online Network E service could benefit your circumstances.”

“The combination of local knowledge and expertise and national exposure is proving to be a winning formula and we expect another successful sale.”

The auction on 8th December will once again have a live Twitter feed giving updates and the results as they happen. Christies Network Auctions can be followed on Twitter as @NetworkAuctions.

With bidding in the room, via telephone, proxy and the internet, no stone is left unturned in ensuring that buyers can bid and purchase. 

Guy Charrison, auctioneer for Christies Network Auctions added: “2016 has seen auction numbers significantly increase on previous years and we have sold over £30 million of property so far this year. This clearly proves that auctions provide an ideal way of disposing of a wide variety of property, particularly in situations where transparency and speed of sale are important.”

“In addition, our Network E service is proving popular with those who want the certainty and transparency benefits of an auction but the slightly reduced pace of a private treaty sale.”

Christies Network Auctions are already inviting lots for the next auction which will be held in London on March 8th and Jeremy Richardson of Christies Network Auctions will be pleased to advise on what is involved. Jeremy Richardson can be contacted on 020 8643 7777 or by email on sales@christiesworld.com or at the Christies Network Auctions website at www.christiesworld.com

Please contact us on 020 8643 7777 or email at info@christiesworld.com

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The Art Of The Deal

Nick Churton of our London Mayfair Global Network offers some good advice about selling your home in this or any market.

In 1987 a book called The Art of the Deal was published. Part-credited to one Donald J Trump it is estimated to have sold over one million copies and it held the number one spot on the New York Times Best Seller List for 13 weeks.

What made it so popular? Simply that people were fascinated to learn how to make better business deals. Selling a home is business. So here are seven of my key thoughts on the art of the property deal.

People are only human
Everyone wants as much as they can get for their property. But let’s face it all potential buyers want to pay as little as possible. Sometimes buyers and sellers don’t play nicely together. Property transactions often expose human nature in the raw. For both parties to get what they want ideally they should compromise a little. Each should be nice but firm.

Reasonable wins
The key to a successful property deal is not to make unreasonable demands with your price or with an offer or counter-offer. Being reasonable always trumps being unreasonable.

Don’t haggle, negotiate
Ill-advised buyers and sellers haggle. Informed buyers and sellers negotiate. Negotiation isn’t just about price. It can involve fixtures and fittings, furniture and white goods. It might involve access to carry out remedial work before completion, or even renting back the property for a while after completion if necessary. It is also about timing. When two or more parties are involved in a chain and each has their own idea about when they want to move, discussing exchange and completion dates plays a crucial part of any negotiation.

Some principles aren’t worth standing on
Some principles have little place in negotiation. Principle is all very noble but sometimes it is best to focus on the desired outcome rather than the cut and thrust of getting there. The aim is to move. A sale is only part of the move. The end game should always be the focus. If one side decides to be mean and petty that does not mean the other side should be too. Bad behaviour is annoying but standing on principle is often counter-productive.

Move forward not back
Having made the deal it is usually best to hang on to it. Losing a deal can be costly in money and time. Also no one likes it when another side reneges on an agreement. It breeds a great deal of ill feeling – sometimes enough to blow a deal. At the very least it can throw up other difficulties – often with several other parties if there is a chain of inter-related sales.

Expect the unexpected
Be prepared for the unexpected. Sometimes a genuine legal, financial or survey issue shows up from nowhere and the deal may have to be adjusted. This may be unavoidable. Again it is best to accept that stuff happens and that reasonable behaviour on all sides can often resolve these irritating difficulties.

A good estate agent is your new best friend
Many people think that estate agents simply put properties on the internet and conduct viewings. But that is only the start. Their real work is in the art of the deal - making sure clients get what they want, when they need it. Estate agents do this in the crucible of an intricate personal, legal, financial and sometimes emotionally charged theatre of life. A good estate agent is a highly experienced expert in this. It really is better to have a proper estate agent on your side from the start instead of wishing you had one somewhere down the line when it may be too late.

Please contact us on 020 8643 7777 or email at info@christiesworld.com

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More Network E success for Christies Network Auctions

Following hot on the heels of the widely reported Network E sales success last month when a house achieved a sale at a stunning £465,000 against a guide price of £350,000, another fabulous result has been achieved, demonstrating the success of this unique method of sale.

The property was placed on the market with a guide price of £830,000. By the time the online Network E auction finished, a price of £1,035,000 had been achieved.

Richard Killoughery of Christies Network Auctions said: “The property was being handled by Executors and they were recommended to use Network E as the method of sale as it was felt it combined the best aspects of a private treaty sale with the transparency, certainty and speed of an auction.

Three open house viewing sessions were held and sixty interested parties were shown around.

Bidding was fierce with a total of 64 bids culminating in an excellent price of £1,035,000 being achieved.

Crucially a non-refundable deposit was immediately paid and exchange set for twenty-eight days.

Selling and buying can be a stressful time but the speed and transparency of the Network E process works superbly for seller and buyer alike”

Network E is a unique service provided by NAVA auction house of the year Network Auctions and is exclusively available in the local area via Christies Network Auctions. Unlike traditional auctions, the process is suitable for sellers and buyers who would normally look to sell and buy via traditional methods.

To find out more, Richard Killoughery at Christies Network Auctions can be contacted via their website at www.christiesworld.com/auctions

Christies Network Auctions: Bucking the Brexit trend

NAVA Auction House of the year, Christies Network Auctions, has demonstrated that any rumours of the death of the UK property market post Brexit, have proven to be unfounded, with superb results posted at our two day July sale.

At our London sale on 7th July a total of £4.2 million was raised with 80% of the catalogue successfully selling. At the Birmingham sale held in conjunction with Pennycuick Collins on 13th July the outcome was even better with a sales success rate of 86% and a total of £1.55m being raised.

The two day combined sale saw thirty seven of forty five lots sell, an impressive 83% and a total sales value of £5.75 million achieved.

Auctioneer, Guy Charrison was delighted with the results admitting that he was understandably a little nervous as to whether buyers would commit to purchases post the Brexit announcement.

He said: “Despite the current political turmoil in the country and the potential uncertainty of the Brexit vote, good old bricks and mortar has, once again, proven to be a safe haven and buyers have taken a positive view and committed to purchasing.

The Christies Network Auctions approach gives us the edge over our competitors as we combine local knowledge and marketing with the national and international exposure of big city auctions and access to large numbers of buyers and investors.”

Christies Network Auctions next sale will take place in London on 14th September with another two day sale in London and Birmingham in October.

Lots are now being taken for inclusion in the catalogues and anyone thinking of selling property is invited to contact Jeremy Richardson on 020 8643 7777 or email at info@christiesworld.com

More information can be found at www.christiesworld.com/auctions.

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A guide to downsizing

Are you thinking about packing up your family home and finding somewhere smaller to live? Here, the NAEA offers advice to make the process a little easier.

Planning is key – Packing your home into boxes can be a real chore, particularly when you are moving to a smaller property, but planning well in advance can make it easier. Think about where you will unpack your belongings and in which room each box should be placed. If you haven’t got it all sorted ahead of the move then just make sure you label all your boxes clearly.

Be realistic about what you can take – Downsizing is your chance to have a spring clean and focus on exactly what you want in your new home, as well as what you don’t. You may have furniture which is too big for your new home. Think ahead and make sure you have taken proper measurements of your new property.

Maximise space – Your new home might have less elbow room, but think carefully about the layout and look at ways you can get the most out of the space available. Often if a house has been occupied for some time, the owners may have used a bedroom for storage or a study.

Set up your utilities – For any move, check with the estate agent and get the details of the previous utility providers so you can call them to set up new accounts. Also, make sure that your phone and broadband services are ordered prior to moving in because these often take a number of weeks to become active.

Ask a professional – Often the easiest way of getting the most up-to-date information that you need about moving home is to consult a respected, local professional. Agents who are members of the NAEA, which means they are experienced, qualified and licensed, can be found here. A professional agent can be invaluable during the moving process.

Source: OntheMarket.com

Please contact us on 020 8643 7777 or email at info@christiesworld.com

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Top tips to prepare for an open house

In an age of online house hunting, don’t be misled into thinking buyers won’t take up an open house day opportunity. From looking online, to viewing a property in person and making an offer, open house days are a modern approach to house selling which aims to make the process easier and more accessible for buyers.

It’s also worth remembering that hosting an open house day can encourage new buyers and sellers to register and prompt many to view properties they might have otherwise ignored.

Do... prepare your house in advance

Declutter. Put items in storage, clean and add personal touches such as fresh flowers and scented candles. Keep décor neutral and the lights on to ensure there are no awkward or dark corners.

Do... groom your garden

The front garden is often the first thing a potential viewer will see and one of the most underrated selling tools. Mow the lawn, keep plants looking fresh and colourful and put out any garden furniture for an added lifestyle touch in the back garden.

Do... hide your pets on the day

Respect the fact that many people might not be dog or cat lovers like you. What’s more, you don’t want to put off any potential buyers with a bad smell.

Don't... get too involved with viewers

You are there to help potential buyers navigate their way around the house, offer tea and coffee and answer any questions they might have. Don’t tell them your life story such as how the cat died and where it’s now buried!

Don't... get carried away with demand

Remember buyers won’t say what they are truly thinking if the seller is present on the day. Most viewers will be polite and pleasant and that could encourage a presuming seller to raise the price. Beware of falling into this trap! All your hard work could be undone if a buyer is not prepared to pay what you’re asking.

Don't... prevent access from certain parts of the home

This will only set alarm bells ringing. If it’s clutter you’re hiding, rent out storage space. It’s unrealistic to expect buyers to commit to purchasing your home when they can’t see all of it.

Source: OntheMarket.com

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Will Brexit affect UK house prices and interest rates?

It is the question many of us are asking, some of us quite anxiously. How will the vote for Brexit affect the UK property market and, in particular, house prices and interest rates?
In the immediate aftermath of the referendum result, shares fell sharply, only to rally within days. Then this week, the pound dropped again, reaching a 31 year low against the dollar. At this stage, it is impossible to foresee the long-term impact of the Brexit vote, but it could be that the effects on the general economy are likely to be gradual rather than seismic.

Depending on which way you look at the situation, perhaps there will be a welcome change for some, including first time buyers trying to get a foothold on the housing ladder. But worries about the property markets have been reflected in the share prices of UK housebuilders, with some stocks down as much as 37 per cent. Estate agents and publicly listed property portals have also seen a downturn in their share price since the referendum.

The first thing to factor in is a possible cut in interest rates. On 30 June, a week after the shock referendum result, Mark Carney, the Governor of the Bank of England, signalled that such a cut might be necessary to tackle the economic fallout from Brexit. For homeowners who earlier in the year had been bracing themselves for a rise in interest rates, it is both good news and bad news. Good news because such a cut, if implemented, would reduce their monthly mortgage payments even further. Bad news because when the Bank of England feels the need to reduce interest rates, it is usually the harbinger of a downturn in the general economy.

Last week, Mr Carney’s message to families was clear. “We are advising people to be prudent,” he said. “Certainly, if you are taking out a mortgage, at some point over the life of that mortgage, times will be difficult. You want to make sure as a family or as an individual you can service that mortgage when times are difficult. You don’t want to lose your house or flat,” he said.

As for house prices, it would be a brave expert to make long-term predictions but there is a near-universal expectation that they are likely to fall in the period before Christmas.

Dr Howard Archer, Chief UK Economist at research group IHS Global Insight, said he expected house prices to fall by five per cent in the second half of this year and between five per cent and seven per cent next year.

“Housing market activity and prices now look to be at very serious risk of an extended, marked downturn,” he said. But he added that a number of factors “should help to limit the downside for house prices”, including a likely cut in interest rates and the shortage of properties on the market.

In the immediate aftermath of the referendum result, some sellers in central London dropped their asking prices by 30 per cent or more. A flat in Whitechapel which had been listed at £1.1million in January was re-listed at £720,000. A flat in Notting Hill which had been listed at £1.6million in February was slashed to £1.35 million. As the turbulence in the Stock Market eased, so did the panic in the property market.

But with a prolonged period of uncertainty, sellers keen to shift their properties in 2016 seem resigned to the fact they will have to settle for less than a year ago. “Sellers have generally taken a pragmatic approach to pricing without having to slash their expectations,” says Lucian Cook, Head of UK Residential Research at Savills.

Savills predict a ‘low transaction market’ this summer, with buyers and sellers alike sitting on their hands until there is greater clarity about the exact form Brexit will take. Experts who predicted that property prices would rise by around five per cent are now singing a different tune. KPMG is predicting a fall of five per cent in UK house prices over the next 12 months. The National Association of Estate Agents, more bullishly, is expecting prices to inch upwards, but to be £1,000 lower, on average, by the end of the year than if Britain had voted to remain.

Paul Smith, CEO of Spicerhaart, remains optimistic and said: “House prices may go up and down as they always have, but demand pressures will sustain prices over the long-term. We’re on course to see the greatest investment since the war, and residential property continues to pay off for home owners.

“Britain should be confident. We are an economic powerhouse and we will continue to be a magnet for international investment.”

The Association of Residential Letting Agents also said that demand would fall in the rental market – but prices would stay the same: “Almost half of agents expect the number of prospective tenants per property to fall as international demand weakens. Just over a quarter of agents expect the Brexit result will cause upward pressure on rental costs.”

But if that is the downside of Brexit, there are positives too. For overseas investors, the fall in the value of the pound makes property in central London significantly more attractive than a year ago. Demand will continue to outstrip supply and, with government targets for new homes likely to be knocked off course by Brexit, property assets will retain their intrinsic value. And first time buyers, for obvious reasons, will not be too upset if house prices do fall in the medium term.

With a fresh twist almost daily in the Westminster soap opera, it would be foolish to predict anything with any confidence. But early jitters in the market do seem to have settled and the advantages of buying and owning property in one of the most successful economies in the world are as obvious as ever.

Source: OntheMarket.com

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