Realistic House Pricing: Why Getting Your Asking Price Right Matters
As summer comes to an end, plenty of homeowners are weighing up whether now is the right time to move. The housing market remains challenging, with wider economic uncertainty in the UK continuing to make buyers cautious.
It is critical, if you want to or need to sell quickly, that you get the price right from the start.
Get the Valuation Right From the Start
Make sure the agent values your home correctly.
Whoever you choose to value your home, make sure sufficient evidence is provided to establish the correct asking price. Book a Free Property Valuation
The Trouble With Overvaluing
Overvaluing will not encourage viewings, so please do not be drawn into unrealistic figures by agents who simply want to win the instruction to hit targets.
This will not help you and will lead to a stressful and tiring time when it should be a smooth and exciting adventure.
What the Market Data Is Telling Us
On Rightmove, I have noticed for a number of months that among properties in the 24-hour ‘added to site’ drop-down, around 50% say reduced. Is the market really that bad? I ask myself.
I recently noticed a property listed ‘for sale’ earlier in the year for £475,000. It had changed agents and the price was reduced to £425,000 – £50,000 below the original asking price. Surprise, surprise, it is now sold STC. I rest my case.
Had it been listed at, say, £450,000 in the first place, maybe it would have achieved closer to that figure. We – and the vendor will never know.
Manage Expectations From the Start
It is important to manage your expectations from the offset.
Honesty and professionalism are always key to a successful conclusion.
Talk to Us
Whether you’re just starting to think about a move or ready to bring your home to market, we’re happy to talk it through – no pressure, no obligation.
We are here to help, so please call or email Andy Hunt or Kate Green on 01245 266765.
NO HARD SELL OR PUSHY SALESMAN TACTICS, JUST STRAIGHTFORWARD ADVICE.
The author: Andrew Hunt
