Putting your property on the market at too high a price could mean you get much lower than you would otherwise 🏠 CallumCMason talks to experts about how sellers can get the best price for their property
“If you get it wrong, it can end up sitting there for ages and then you have to reduce it,” he says.
“Always price under the market. This way, you stand the best chance of getting competing buyers to bid the price up. The number of properties I’ve seen reduced by 20 per cent or more is staggering, and if they’d set the price correctly at the start, they’d already have sold for a higher price and moved on with their lives.”In the current property climate, with a smaller pool of buyers, you cannot expect sellers to come to you, experts have said.
Mr Rolande says that more passive agents may be far worse for sales in the current climate, with buyers more scare. And Richard Donnell, executive director at Zoopla, adds: “You have got to speak to two three estate agents, and really press them on why they’re right for you. Ask them how many people they have them coming through their doors looking for your type of property.”Mr Rolande says the best time to sell a property is in the first few weeks of it going on sale, adding that if your property has been on the market for a while, it might be worth refreshing and re-listing.
Mr Kilbride agrees and says statistics show a fast sale is needed to shift a property. He says this is “amplified” now that buyer numbers are lower, and a slower sale may mean prices fall in the meantime. But with the cost-of-living crisis biting, Mr Kilbride says buyers are now buying more attention to these.
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