Central London is one of the most desirable areas in the world to live and work. As a result, you could be forgiven for assuming that selling new developments in the area would be relatively straightforward. But if you approach your search for buyers in the wrong way, it is possible to end up with a new development on your hands but no tenants to fill it. You can start hunting for potential buyers and registering interest early on in the process. You don’t have to wait for construction to complete to start your search.
Using a property agency with experience of selling properties in central London will improve your chances of success, especially if you don’t have any prior experience with selling property in London. Below is everything you need to know about finding the right buyers and getting the right price for your new developments in central London.
Get an Accurate Valuation for New Developments In London
Before you can start seriously pursuing buyers, you will need to have your property valued professionally. When you are choosing someone to value your property, you should prioritise agents who have experience with the relevant property type. If you are looking to sell a new apartment development in central London, Greater London Properties can provide you with an accurate and realistic valuation.
Having an accurate valuation that you and potential buyers can trust is essential if you are going to have any hope of selling your new development. Central London is one of the most desirable locations in the world for both individual people and businesses. In theory, you shouldn’t have any problem with selling a new development in central London. But even in a city as in-demand as London, you need to set the right price. Any buyers are going to have some idea of how much they should expect to pay for a property in central London. They won’t want to pay more.
If you present these buyers with an unrealistic valuation, they are less likely to take you seriously. Whether you overvalue or undervalue your development, you will pay the price for it. If you overestimate the value of your development, you will have a hard time finding serious buyers. If you undervalue the development, you will end up making less money than you should. Securing an accurate valuation of a new development is essential.
Greater London Properties can assist with the initial building appraisal. We will also liaise with planners and architects to gain an accurate overview of your development. Our team of trusted advisors will also work to maximise the desirability of your new development and ensure you maximise profitability.
Use an Agent with Local Knowledge to Help You Sell New Build Developments London
Hiring an agent who already has experience with selling the kind of property you are dealing with has several advantages. Experience helps agents to hone in on a realistic price for new developments. They will be able to tell you what to expect from the development as a whole, as well as individual units within it.
Depending on how much experience you have with selling new developments, you might have several questions about what to expect from the process. It is always reassuring to know that the agent handling your property sale can be relied upon to give you accurate information when you need it.
Another big advantage to using an agent with local knowledge is that you can harness the contacts that they have made. Not only will agents with local experience know where the best places to advertise your new build are, but in some cases, they will be able to take your development straight to a potential buyer without having to wait for them to come to you.
Finally, local knowledge is invaluable in predicting rents and revenues. Agents with experience in selling new developments in central London will be able to give a more accurate forecast for what income you can expect. Calculating a sale price and a rental price are two different considerations. Experienced estate agents will know how to make those calculations.
Use Agents Who Have Sold New Housing Developments London In the Past
Selling new housing developments is a different skill to selling a commercial development. But not all housing developments are the same. The location of your new housing development, as well as the specifications of the homes themselves, will determine their value.
No matter who you are selling your new development to, selling through an agent is the best way of ensuring you get a good deal. Some people think they can save money by selling their new developments on their own and foregoing the services of an estate agent. However, when you take into account the difference in the amount of money that they can expect to make selling on their own compared to selling through an estate agent, it isn’t worth it.
Experienced estate agents know where to market your property and how to market it to sell it efficiently. Efficient selling means selling the property quickly while still securing a fair price.
Some buyers are under the impression that they can save themselves money by purchasing from you directly instead of going through an estate agent. While this is a myth, it is one that seems to persist. Developers who mishandle the sales process for a new development can end up having to offer different prices to different tenants. As soon as you start selling units for a certain price, it is harder to convince anyone else to spend more on future purchases.
Define What Your New Development Offers Over Other New Property Developments In London
Every development is different. If you want to sell a new development for as much as possible, you need to believe in the value that you are assigning to it. If you don’t believe that your development is worth investing in, you will have a hard time convincing anyone else to do so.
To sell anything convincingly, you need to be able to define its key selling points. If you don’t know how to tell other people why they should buy something from you, selling it effectively is virtually impossible. It doesn’t matter whether you are selling smartphones or properties; you need to know what makes your product special.
Consider where you are building your new development and what the local area has to offer. The specifications of the units in your new property development will also be important in helping you sell the development to other people. But it is the local area where your development is located that is completely unique. Access to local amenities can enhance the value of your build.
Consider Offering A Lower Price To Early Investors In New Developments Around London
It is always worth allowing potential investors to register their interest in your development as early on in the process as possible. As soon as you have the first renders of your new development and you are completely certain that development is going ahead, you can begin allowing people to register their interest.
Some developers also choose to offer a discounted rate to buyers who are willing to buy or commit to buying units before they have been built. Offering a lower price to anyone willing to invest early can make it easier for you to sell all the units in your new development.
The Right Presentation Can Convince Investors to Buy a New Development Flat In London
We have a number of flats at Watch House in Soho on our books that are not live yet. However, we have created a website to enable potential buyers to sign up for news and updates. These updates ensure that interested parties will see when sales go live. These apartments are a mix of studio apartments, and 1, 2, and 3 bedroom apartments. These apartments start at £850,000.
The website isn’t just a good way of gauging interest and gathering valuable contact details. It is also a very effective sales tool. The way that you present your new development to potential investors will have a significant impact on how they respond to you.
Greater London Properties has extensive experience selling a range of property types. We know how to market properties effectively and where to market them. We can help you to secure a sale much faster than would otherwise be possible, while also ensuring that you receive the best price possible.
From the moment that you first begin planning a new development, GLP can work with you to accurately appraise and value your property. A thorough and accurate evaluation of your business will make it much quicker and easier to sell your new development. We will talk to planners and architects to get the full picture long before you finish building the development. We also maintain a core team of trust advisors. Our trust advisors are on hand to ensure that we are showing your property in the best light at all times and maximising its profitability.