The importance of taking a localised approach to selling your home

When it comes to selling your home, there are plenty of things for you to think about – but one thing you might not have considered is where your next buyer might come from. What about if they live just one street away, or they’re a regular in your local? What if they have passed by your house regularly, and always thought they’d like to live on that street?

Suddenly, the sales process feels a lot more personal, doesn’t it?

Registers of Scotland data for 2023 indicates that 18% of property buyers live in the same postcode as the next property they purchase – and therefore, they’re likely to shop at the same supermarket, wander around the same park, or maybe even stand next to you in the queue at the local coffee shop. Perhaps your children are friends at school, or maybe you always end up in the same train carriage as them on the commute. Whatever it is, it’s exactly why it pays to be friendly when you’re out and about, just in case your future buyer is the next person you meet!

Many assume that it’s up to the buyer to make a good first impression on the seller, in an effort to be memorable (and memorably friendly or helpful!) so their offer is the one that gets chosen – but in a more balanced market, where we find ourselves today, perhaps the shoe is on the other foot, and it’s up to sellers to present the kind of happy, relaxed lifestyle prospective buyers will aspire to and ultimately want to buy into. So much emotion goes into a property purchase, and your buyers will feel more confident in their decision if they truly believe they’re buying from a kind, honest and friendly person with a lifestyle that feels familiar to their own.

We are seeing that the volume of buyers buying a home in the same postcode as their existing property is dwindling in some areas, perhaps due to a lack of supply in the market, or more likely, ongoing challenges around affordability. Perhaps it’s down to lifestyle choices, with some areas being more typically suited to the lifestyle of a first-time buyer, than the family setup they may be aspiring to by the time they come to sell on. In the EH6 postcode, for instance, which covers trendy Leith, the number of existing residents buying a property in the same postcode has gone from 25.8% to 18% in the last twelve months alone, where we can presume that buyers are choosing to move on to either more affordable areas, or areas that fit a different kind of lifestyle.

If we zoom out a little, looking at the same postal area (in this case, Edinburgh), then the RoS data shows that 57.4% of buyers stay in the same area overall, with just 8.5% of buyers moving into the city from elsewhere in Scotland. This means that just one in 20 buyers come from the rest of the UK, and roughly one in 76 from the rest of the world. Again, it means that it’s highly likely that you might have already come across your future buyer in some way! In any case, it’s highly likely that your buyer will already be fairly familiar with your local area.

This can differ from region to region of course; for example, Scotland’s border towns experience a higher proportion of buyers coming from the rest of the UK, likely due to its proximity to the border with England, making it an attractive prospect for people slightly further afield. The South West of Scotland sees 15.4% of home buyers coming from the rest of the UK, while in the Scottish Borders, the figure is currently 11.7%.

With all this in mind, it’s imperative to take a localised approach to selling your home, and that’s where relying on the knowledge of your local property experts can make a huge difference to the success of your sale. We’d always recommend using your local solicitor estate agent to sell your home; they’re operating in the local market every single day and know everything there is to know, including having access to the latest market data in the local area, to help inform your sale and guide you on everything from pricing strategy to the most effective marketing tactics, which can all help your home stand out in a crowded marketplace.

Only ESPC solicitor estate agents can market your property on the best-known local portal, espc.com, which research shows is the first place that local buyers go to search for a new home. Our data shows that 31% of our monthly web searches are ‘hyperlocal’, with buyers who know the area that they want to buy in and search specifically in that area, rather than doing a sweeping search of a larger location. Local solicitor estate agents are often the go-to for local buyers too, meaning they can pinpoint who might be interested in your property and send them your way, as well as advising you on the market techniques that have worked most efficiently for that specific audience.

Some home sellers prefer not to have a ‘for sale’ board installed outside their property, to avoid neighbours looking up their home (and its value!) online – but when there’s such a high chance that your buyer will be coming from the local area, adding a board outside your home could mean that they could spot your property on the school run or the commute, and act quickly. I’ve heard it countless times over the years; people with no real intention of moving house spot a property they’ve always had an eye on with a sale board outside, and suddenly they’ve appointed a solicitor estate agent by lunchtime to get the ball rolling and try to snap it up. Who would want to miss out on that opportunity? People aren’t likely to tell you that your home is actually their dream house, if they bump into you in the street – but they won’t be shy to book a viewing if you make it known that it’s for sale.

So in a nutshell, what have we learned? Here’s a few take-home points (if you’ll pardon the pun): use the insights and information from your local solicitor estate agent when it comes to selling your home, and trust that they can harness the local market for your property; if you’re thinking of selling, make sure your home looks as appealing as possible even prior to going on the market; and of course, make sure you’re the ‘nice guy’ when you’re out and about, just in case the next person you bump into becomes the next owner of your home.

It’s a small world after all.