Selling houses is easy you just put some pictures on Rightmove and it sells itself. Wrong! There are many factors affecting how quickly and at what price a property will sell for.
Correct pricing is one of these factors! Many people think there is no harm in pricing higher with a view of taking an offer or reducing later on down the line. The negative effects of this can be disastrous when it comes to achieving the best price for quite likely your biggest asset!
What generally happens when pricing too high especially in a flat market is little to no viewings which minimises your chances of an offer, even a low one! This then leads to it sitting on the market and going stale, from here a reduction is needed to generate new interest. A reduction can then help but isn’t the best strategy.
By pricing correctly and utilising a database of buyers you can create a demand for a property. Ultimately a property is only worth what someone is willing to pay for it. However, if you can ensure you have the very best marketing online and offline coupled with correct pricing and expert negotiation from your agent you will be able to achieve the best possible price.
By marketing as ‘offers in excess of’ rather than a fixed price you do not have to cap the limit on where you are willing to close a deal. We have managed to secure circa 10% on occasions over asking price where competitive bidding has taken place. For this strategy to work pricing does need to be attractive but the results can be exceptional!
If you want to discuss how to get the best price on your property then please give us a call and we would love to booking in a meeting to discuss what is the best strategy for you and your property.
Written by Remzi Mehmet Partner & Director