Selling an 'eco' house

[cornishben]

We're looking to sell our cottage in Cornwall in order to fund a new eco project.

It has a lot of green features, but my impression from the couple of estate agents that have come to value it so far is that they don't have a clue about 'eco features' and their value and hence don't seem to be taking account of this in their valuations (and hence I assume they won't in their marketing). 

Has anyone had any experience of this and have any recommendations on how best to handle this and market it?

I am planning to write some blurb to give the EA to give to prospective buyers explaining it all, but whether that actually gets through is another matter!

[Justme]

I guess it will only have a "value" if the person looking at buying is prepared to pay for it.


What sort of stuff are you talking about?

Also remember that the EPC should show up the stuff.

[marktime]

Your best hope with an Estate Agent is to highlight the financial aspects. Emphasize how much less the utility bills would be compared with an equivalent un-green property.

'This property offers outstanding views of utility bill with bijou bottom line and extensive cash left in the buyers wallet'

You get the idea


marktime

[cornishben]

I guess it will only have a "value" if the person looking at buying is prepared to pay for it.


What sort of stuff are you talking about?

Also remember that the EPC should show up the stuff.

Yep very true - I just want to ensure we can market it to 'that person'
stuff - 1kW PV, which with the FIT should mean a net annual bill of zero. Solar thermal, thermal store, 2 woodburners, double glazing, lots of insulation.

[cornishben]

any recommendations for who to use to get an EPC done, who will take account of the above?
(I've done the PHPP course and could run the cottage through PHPP, but don't think the estate agent will understand the results as it doesn't have pretty multi coloured stripes)

[rhys]

If i were to buy someone elses eco house I'd do an internet search for "eco house for sale"
and I'd get this
http://www.greenmoves.com/
Don't know who they are but maybe local agents are not the best way these days.

[martin]

bang goes any chance of winning any popularity stakes when I admit to having spent some time in the property business - started off with surveying, drifted into sales.......
I'd suggest that first of all you knock yourself together some "details" (get some from a local agent to get an idea of how to do it), include some good photos, and don't overdo the hyperbole, but certainly feature all the plus points upfront - if you use something like "Open Office" you can upload the result as a webpage (use the free space your isp gives you),and print copies off to send to people. From the numbers of flyers we're getting asking us to sell, there's a shortage of good properties at the moment - if there's no great rush I'd try to "do it myself". Google should pick up your web page, meaning potential punters can find it - then try simple and cheap "lineage" ads in local free sheets (FriAd and similar), or if you're feeling flash try the same in the Daily Telegraph on their "property day" (used to be a Thursday) - not cheap, but a couple of lines in that would bring more replies per pound spent than any other.............
If that doesn't work, have three agents round (ask your friends to recommend them) - choose the one you like the look of (an "FRICS" or "FAI" on the staff tends to denote a professional, straight firm), and give them a "sole agency"* for a month at a reduced rate of commission (if the going rate is 1.5%, ask for 1% etc) - this gives them the incentive to splash their advertising budget, knowing that they are the only agent in the running - at the end of that time, if they agree extra advertising, extend it for a few weeks, otherwise give it to one other agent, and tell the first lot you've done so (if you give it to all the agents, the odds of any of them selling it are minimal, so they bung the details in the back of the cabinet and forget about them)
*Sole agency means that they are the only estate agency employed to sell on your behalf - NEVER give "sole selling rights" - only unscrupulous crooks ask/demand that - you've basically signed your life away to them, and even if you sell it to Uncle Fred they can demand the fees..........
And don't believe all the hype - there are some really nice, straight and worthwhile agents out there who will earn every penny - it just find finding them- ask around!
Hope that helps, and best of luck.......... (if you want practice, bung it in our "For Sale"section, we don't charge fees.......... I'll happily advise on "content")

[Rupert]

Highlight its very well insulated far over standard specification and the money saved by the green/energy saving equipment installed with breakdown of running costs.

But you would probably stand more chance of a sale by advertising it with people/websites/magazines who specialise in such property.

[Paulh_Boats]

Estate Agents are a waste of time in and around a house (you know it a hundred times better) - their knowledge is limited to the local area and what clients are looking for.

So I would write my own summary of the Eco features and show the clients around the house myself and do a heartfelt save-the-planet-just-like-Obama salesman job.

With 1kW PV, solar thermal, thermal store, 2 woodburners, double glazing, lots of insulation you know you have a house of the future that EVERYONE will have one day. Clients will save hundreds if not thousands of pounds in future bills and seriously reduce their carbon footprint. Calculate the actual footprint compared to an average non-eco house - if you can tell them "your carbon footprint is 20% of an average house" then even a non-technical person will understand its a great house to own.

Also mention the Government building regs are targetting zero carbon by 2016...and you are over half way there.

Calculate the fuel bills for next 10 years assuming elec/gas increases 5% above inflation and shock them!


Get the message yet?  

cheers
Paul

[cornishben]

many thanks all - navitron comes up trumps with the advice again.  I think the conclusion is to make sure I put a decent information pack together and explain it to people myself rather than relying on the agent. Plus I think we may try for a private sale, trouble is if the house we're going to see tonight is a goer then we're probably going to need an agent in order to get moving asap.

You do realise if you all give too much good advice on selling then the sooner i'm going to be asking another heap of questions regarding the next project 

[martin]

I feel I should give a gentle "plug" for what a good agent can do for you......... If the agent you want to buy from covers your area, and you don't get the "bloody crook" vibes, my all means instruct him to sell (as above - sole agency for a stated period) - then it is doubly in his interest to find a buyer as he has 2 sales dependant on it..........(in that circumstance, he may even "sub instruct" to another agent(s) - the idea is that it broadens his net to find a buyer swiftly, and he would then split the commission with the other agent in the event of a sale - he knows he'll get at least 50%, so he's happy, and it costs you no more......)
At the moment, it would appear to be a "sellers market", so it is probably a good idea to try "going it alone", but if circumstances change, or you need a swift sale, a good agent can be very worthwhile!

[martin]

Martin's ever so slightly tongue in cheek "how to write property details"............
Start off with a pretty picture of the property, taken on a sunny day - then a short sharp resumé, in which you carefully talk up the good bits, and conveniently overlook the less good bits..........
Summat like this-
"A newly renovated (tarted up) tile hung (jerry built) semi-detached property in the popular (you can only hear the gunfire from the local sink estate when there's a west wind) Hampden Park area of the town, or "lively, friendly neighbourhood" (its on the local sink estate)- conveniently situated for buses, schools and the railway station (stuck noisily between the 'bus depot and the shunting yards by the station, and the local delinquent's secondary school is just round the corner- broken windows a'plenty!), and enjoying far-reaching views towards the sea (over the local trading estate in the direction of the sea, which unless perched on a chimney pot you can't actually see........)
In extremely good decorative condition throughout (until the damp starts showing again), with the advantage of full gas-fired central heating (35 year old boiler) - the present owners have also invested wisely in several "eco features" that will ensure low utility bills for years to come - solar hot water system (that's what the coiled black hose on the lawn is for), fully insulated and double glazed (with cling film).......The gardens are a particular feature - challenge for a keen gardener (overgrown wilderness, lost tribes of pygmies job) - An excellent opportunity for the discerning buyer.

Then list the rooms, sizes and appropriate features - remembering that "patios" do not exist, they are sun terraces, "lounges" are found on liners and in pubs, you have a "sitting or drawing room", and you should go overboard in describing the stairs - "a fine antique oak-balustraded staircase winds it's way elegantly to the first floor gallery" covers a multitude of sins............  

Mention the poll tax band, and asking price - bob's yer uncle!

[desperate]

Blimey martin, what percentage do you charge I may be flogging a couple next year

Cornish Ben, the only thing I can add is to make sure your EPC reflects the true performance, there are lots of aware punters  now.

Desp

[Brandon]

I would agree with martin that a good agent is a boon, but they are few and far between.  Our agent is a diamond, and any property that we see for sale, whomever the agent, we ask him to speak to the owner.

[martin]

It's a little-known way of doing things, but if you want to buy in a difficult market, it can pay to "retain" an agent to find you a property - you pay him commission when he finds a property that you buy...... It frees him up -  he is then acting on your behalf, not the vendor (caveat emptor and all that), and can approach all the agents, and even "door knock" to find you the right property, and will then use his expertise to negotiate you the best (lowest) price..............which if he's good at his job could well mean you get it loads cheaper, even taking his commission into account than you would have done off your own bat.
As Brandon says, there are some really good agents out there, but they do take a bit of finding - they're often rightly much-maligned, but a good 'un can be worth their weight in gold