It is an instinct for many sellers in Essex and across the country to think that it’s a good idea to go to the market with an over ambitious asking price on their property.
It is understandable given that our overall local market is so buoyant and demand for quality homes in the town in every price range is very strong.
However, recent national Rightmove research have shown that during a time of slower price increases it’s riskier for sellers to over-price their property.
Additional analysis also shows that a property is 40% more likely to sell if priced correctly when it first goes to the market.
A recent survey of estate agents in England by Rightmove has reported that we are now living in a more price-sensitive market, with buyers reluctant to even make enquiries with the agent if a property is too highly priced.
In short, Rightmove states the obvious – that an over-priced property deters buyers from viewing a home.
We agree with Rightmove and it’s the reason why we take so much care in calculating the optimum asking price on all our sales instructions and bear in mind all the critical factors of the sale.
Price must of course accommodate the unique circumstances of each individual seller and their property.
Irrespective of circumstances some truths are self-evident.
Over-pricing loses that initial interest, freshness and impetus which is vital for securing immediate enquiries / viewings.
Even worse some buyers will have reservations about a property that has not sold as quickly as others, or has been reduced in price several times.
The best way to prevent over-pricing and sell your home at a great price to a well-qualified buyer is to instruct a good Estate Agent.
You don’t want an Agent who will over value your house simply to gain the instruction and then gradually reduce the price to a more realistic level over a period of many months.
The likelihood is that the ultimate selling price will then be lower than it would have been if a smart marketing plan and price had been in place from the start.
If you wish to discuss the above or are thinking of moving, get in touch with one of our team.
If you are thinking of moving, get in touch with our team for more tips and to find out about of £995 offer.
Give us a call on 01268 987984.
Visit our properties page www.tailoredestates.co.uk/blog/ to read all of our blogs.
Visit www.rightmove.co.uk to view all of our latest properties.