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It’s all about getting the price right!

No, this post is not about the reintroducing a TV game show, it’s about being serious about selling your home.

 

Many people ask me the same question constantly (normally if they are struggling to find a buyer for their property) which is, “how do I get an offer?” For some, they may need to use a better, more proactive agent. The overall view by customers is that agents take a few photographs, upload it to one of the major property portals and hey presto it’s sold! The reality is quite different. A good agent will be working a database of purchasers, and will proactively contact these people to gain viewings and that all important offer. In many cases though (no matter how good an agent you are using) if the price is too high it simply will not gain the interest you need.

 

I remember a number of years ago when I valued a nice, modern detached home in a small development of 30 properties, all of which were the same. The vendor I went to see had been trying in vain to sell their home through another agent but had received no interest at all. What had happened in this case was that one of the neighbouring properties went to the market around £100,000 over its true value! What then followed was all the neighbours now believing their home was also worth at a similar rate, so many went to the market – all £100k over! With the use of numerous comparable properties as evidence, I was able to prove this to the client, the property then came on the market at the correct figure, and was sold.

 

Pricing really is so important, of course you don’t want to give your home away, but getting the price right is key to a successful move. Therefore, always look for the agent you instruct to bring evidence of similar recently sold properties and research the market fully.

 

Andy Bushell