Following are some factors that can help you procure your ideal house at the right price no matter what the economic conditions are like.

1. Research independently

It is important to do your own research into the house and are you wish to ourchase in. Different factors can be important to different people on a case by case basis. For some families, proximity to catchment are of a nearby school may be an important consideration. It is important to note that catchment areas can change from year to year. If you’re looking to buy in a school catchment area, don’t take your estate agent or anyone else’s word for granted. It is best to do some research yourself. You could call the school yourself and ask.

2. Find out sale price for other houses in the same street

When you find something you’d like to make an offer on, confirm price details in the area from somewhere. This can be done form a numbert of sources. check out websites such as NetHousePrices or Mouseprice. These websites can provide a good insight by giving information on the price of house in exactly the same street or area.

3. Don’t hesitate to make a low offer

When you have found a house you like, you should not hesitate to make a lower offer even if the guide price is higher. A guide price is an indication and does not necessarily indicate the lowest sale price. Remember, estate agents may try to value properties higher regardless of the current market conditions.

4. Try to get Extras.

A property is a high value product and is open to negotiation. If you are not able to reduce the price then try your best to get as many extras as possible included in the price. This could be anything from furniture and fittings to dishwashers, washing machines and fridge freezers. They can save significant expenses when trying to set your house as they can cost a fortune.

5. View and inspect the property thoroughly

While viewing and inspecting the property you can draw a list of all minor or major issues with the property structurally or otherwise. Even if issues are small you should list them down. Check around the house and note down everything that needs to be looked at, fixed or negotiated on, before making your offer. Many people make the mistake of not considering minor issues or problems a house especially if it not a new house.

6. Investigate price drops in the area

If you are looking in a new area for the first time and lack information on local price trends in the area, you can use the website PropertySnake which will allow you to search by postcode or area and find out if prices had to be dropped in sale of houses in the area.

7. The sale is not complete till you exchange

One in three property negotiations do not go through. As such if you have found an ideal property but it is already under offer; you may still be able to acquire it. Keep in touch with the estate agent and check on the progress of the sale.

8. Be careful of flood affected areas

In recent years we have all witnessed the damage floods can cause to households. Floods have become much more prominent in UK than they used to be. You can find information on flood affected areas and conduct a check for free with the Environment Agency. From here you can find out if the new property has been built near a flood plain before you make an offer.

9. Affordability

Affordability is probably the most important consideration in buying a house. Before you buy you must consider all affordability issues in advance and ensure you can afford the house and subsequent mortgage repayments.

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A recent report in Bloomberg has found that the top estate agents will be cutting their marketing budget on traditional print advertising by almost 90%. This is because of a shift to online marketing.

With 150 estate agent offices currently reported to be closing every week, Jonathan Haward, Managing Director of The County Homesearch Company says the face of the high street estate agency will change forever, and in today’s market only the very best will survive:

He explained: “With 85% of people already commencing their search for a new home online, the need for an estate agent presence on the high street office has been diminishing for some time. Coupled with the increasing use of internet by customers to find properties it is now common knowledge that Estate Agents who do not invest in building their online presence will be not be able to remain competitive.

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Property Portals do have their advantages for Estate agents as they receive thousands of visitors to their websites. However there are many drawbacks for esatet agents who rely on property portals for their online marketing.

The drawbacks of Estate Agents that rely on Property Portals more than their own website are discussed in detail below

Property Portals provide your customer the opportunity to access your competitor Estate Agent’s properties not just yours. You are quite likely to loose your prospective customers as YOUR lead becomes EVERYONE’S lead. But your own web site leads your prospect to YOU ONLY.

Property Portals cannot promote individual web sites on the search engines. It promotes you along with hundreds of other estate agents. On your own web site, you have total control of all promotion, and all the promotion benefits for yourself.

Advertising on Portals can be useful for UK Estate Agents but it should exist in addition to your main website. Links from there to your independent site can draw more prospects to you and enhance your professional image, giving you the competitive edge.

The web address you put into all your ads, on your business cards, and in all other investments you make to market yourself should bring business to YOU — not to another company or to other agents.

When Internet users are researching your estate agent’s website for information about your services, and find that the company either doesn’t have their own Web site they tend not to take them seriously.

If Estate Agents aren’t using their own independent website they are missing out on branding opportunities.

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“ If the UK market continues to follow the current path then estate agents and property services would best be advised to start looking to the internet for long-term stability and profit.“

Traditional real estate marketing, such as direct mail, magazine ads, classifieds, television and radio spots can all be useful. But with 85% of home buyers beginning their search on the internet, it will be the Estate Agents with a strong online presence who will benefit.

In the changing economy new media features such as internet marketing, keyword strategies, banner advertising, reciprocal links, online promotions, email strategies and interactive features are the buzz words that are essential in order to succeed.

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