Local home buying companies are often overlooked when people need to sell their home quickly. Up against the national giants, they can’t compete on a marketing level with TV, radio and national media options out of their budget parameters. This means that they are often invisible to new audiences.
But local companies offer a plethora of benefits to the consumer that national companies can never compete with; from local knowledge, personal service, to fairer and more accurate valuations.
In this article, we set out why it’s worth the effort finding them if you’re serious about selling your home.
Local Property Company Benefits
1. Accurate Valuations
National companies rely on desktop valuations. This means that they don’t always visit your property before making an offer, and instead use machine-led algorithms to work out a price. It’s essentially a general picture by using data from houses within a half mile radius to work out an average.
What computers and algorithms can’t take into account, however, is individuality. But if they don’t consider unique elements to a property, then how can they deliver an accurate valuation?
You need real people to see your property in order to price it accurately. And the best people are those with local knowledge who understand the local market. They consider unique enhancements to your home like a kitchen extension, a loft conversion, or a conservatory and make sure that these elements are reflected in the price you’re offered.
And that’s where local companies have the upper hand on their national counterparts. For example, Hull Cash Buyers operating in Hull and East Yorkshire, will only ever offer once they have viewed a property.
It’s a similar story for most local based companies. So if you want to maximise the amount you can get for your home, then talk to the local guys.
2. No Movement On Price
National companies know exactly how to play the game. They hook people in with an attractive initial offer for their house, only to reduce further down the process when they know that you have nowhere to turn and need the money fast.
They essentially operate a similar model to car dealers – you get an unbelievable initial offer for your slightly chipped but still very functional 10-year old family saloon, but are left disappointed and out of pocket when the dealer views your car and knocks the price down as he spots trivial things wrong with it. By this point, you need the money – you’ve already booked the holiday, or secured your next car – so you sell for less. You’ve no other option and are backed into a corner.
Local companies don’t work like this. They have a local reputation to protect and a business that they will want to grow. The initial price they offer will usually be accurate and fair, and they’ll stick to it.
So you usually end up with more money in your pocket, and a less stressful process, if you choose local.
3. No Contracts
National companies know that speed is the name of the game. At the end of the day, people looking to sell their home for cash tend to need the money quickly. It’s usually the result of a change of circumstance; for example, divorce, probate, or relocation.
National companies will offer a price within minutes – they only need to type your postcode into their computer! If you agree to sell your property with them, then you’ll be given a contract. Most contracts will include a charge against your home. This means that you cannot sell your property to anyone else without first paying off this fee, which can be up to £6,000.
It’s a win win for the national companies; you either sell your property to them (usually at a much reduced cost than they originally quoted), or you have to pay them off in order to be released from your contract and sell your home to someone else.
If you want to be in control of the process, then local property companies come out on top again. For example, Hull Cash Buyers don’t have contracts and will never impose a charge against your property. That means that local companies have to be fair and transparent throughout the whole process, so it’s a mutually beneficial exchange for both parties.
4. Personal Service
National companies are big players with big resources and big budgets. They don’t however offer great service. To them a house is a house. They get hundreds of enquiries each week; so you’re one of many. They add your details to their databases and if you have questions or need help during the process you call their customer service team. One day you’re speaking to Dave, the next say it’s Sarah, the next day it’s Tom. And you feel like a parrot, constantly giving the same details as you’re passed around.
That’s not the case with local companies. They are smaller with smaller teams. You tend to deal with one person from start to finish, who will help you every step of the way.
Real People Verdict
It’s not just us that know the value of local. Real people do too!
“I approached Hull Cash Buyers after being let down by a national home buying group to buy my house on Welwyn Park. I had heard of Hull Cash Buyers from a friend and just wish I had used them from the start. My experience with the national home buyers was terrible – they signed me into a contract agreeing to purchase my property at an agreed price but for months and months this never materialised. In the meantime, they had put a charge against my property, which meant I couldn’t ever sell my property without paying £6,000 to them to remove the charge. This caused a lot of stress and almost meant I was unable to sell my property on Welwyn park and nearly missed out on the place I wanted to buy, if Hull Cash Buyers hadn’t stepped in. I dealt mainly with George and his service was second to none. He visited my property and offered on it within the hour. He also advised me on how to sort the situation with the national company. With Hull Cash Buyers, there is no contract to sign or fees to pay and they do exactly what they say – complete on the property quickly. It really put my mind at ease dealing with someone who is local, easily contactable and able to meet up if needs be to help with things.” – Ben Shears
If you live in Hull or East Yorkshire and want to sell your home quickly, then get in touch with us on 01482 655346. and we will come and view your property on the same day. We make a cash offer on every property we see and can exchange within a couple of days.