How to sell your home for what it's worth
With the price of properties being higher than ever, it seems surprising that so many houses are being reduced in price. Put simply? These properties were being marketed for too much money in the first place. We wanted to offer you the best way to market your property, so you don't have to negotiate on price or be witness to an unsuccessful launch.
If you're selling your home...
The chances are you'll have checked out similar properties online. In competition with you, you'll likely compare prices, which will have given you a bit of thought about what you want to market your own property at.
That would be the first mistake to make, if we are honest. If you begin this journey with expectations this way, there is a strong chance you could be setting yourself up for a fall. The smallest differences within a house that you may think is similar, can be the difference between 5 or even 10+k in your property value. You don't need that kind of disappointment, so what are your options?
The next step
An estate agent should come to your property and give you a price. Remember, you are looking for an honest and open line of communication with them, and in return you should expect an agent who has your best interest at heart.
Try not to listen to, 'How much are you hoping it's worth?' or, 'How much do you need to achieve, to be able to move?' These questions are influenced by the sentimentally you have for your home, mixed with your own hopes of gaining a maximum offer. Agents shouldn't be telling you what you want to hear, they should be advertising where the property should be positioned to maximise the selling price
A good estate agent's goal shouldn't be to simply get your house on the market and knock the price down from there. They should be factual and coming to you to offer their advice about a marketing price, rather than labelling it a simple, 'valuation.'
Any figures they give you should be backed up by research and comparable properties. You don't want to see figures plucked out of thin air that are normally high enough so that you feel enticed to use them to sell yours.
Importantly... very importantly...
Do not agree to go with the agent who tells you the highest price. As previously mentioned, there are companies out there that encourage their staff to go for the highest price just to win business, tie you to a long contract and quickly begin working the price down. This is not about high price pitch just to get the highest offer – because it doesn't work that way.
Put the real value into your property to create positive attention
You don't want what nobody else has, as it is only natural to be drawn to what other people like. A house with a busy viewing schedule is far more interesting than a house that has zero attention attached to it. Why? Because people will wonder why there is zero attention, and will be left assuming that something must be terribly wrong with it to begin with.
The price of your house needs to be attractive to buyers, anything too high will push them away. So if, for instance, you wanted to achieve £450,000 for your property, don't price it at £475,000 and think you'll end up with an offer somewhere in between, because it is very unlikely to happen. People will probably even be too put off to view, and without viewings, you won't get any offers.
Avoid price reduction
The dreaded reduction will set alarm bells ringing for potential buyers. What is stopping others from making an offer? You want to avoid this at all costs, because suddenly you'll end up walking away with less than you'd hoped.
Attractive pricing for the win!
Launching a property that you want to see yourself earn that £450,000, sellers really need to think about their choice of words. 'Offers over £450,000' will be far more likely to see you, within hours, have multiple enquiries. As people flock to see your property, you may find that they go above your asking price, making you a little more money and adding value to it with the sheer interest alone.
It's all about thinking carefully, and getting your words and timing right. If you think Harrisons can help you market your home, call us today on 01795 474848.