“Deciding On Price” (Part One)

Added on 10 May 2017

Whatever anyone might say about location, condition, proximity to schools, size, etc., it is the price at which a property is initially marketed that is the key to a successful sale.

But emotions often cloud good judgement. The chance to secure a high price can prompt sellers to quote too much, and the house then misses the early buyer activity that is most likely to produce a sale. Quote too little and the resulting immediate sale can fuel resentment as you might feel you could have sold for more.

So the heart must not rule the head here. You may have put a lot of time, love and money into the property and naturally you want your asking price to reflect this. Maybe you need a certain amount to secure another property, or you simply want to track national house-price trends. Perhaps you are taking your guide from a similar property that has recently sold nearby.  

However, the only thing that really counts is the supply of able buyers in relation to the supply of comparable properties, and what those buyers are prepared to pay in view of such competition. Local estate agents are the only people who have a handle on both aspects. Armed with this information your agent can make an informed recommendation as to an asking price that will maximise your chances of selling at an attractive figure within a realistic timescale. (See part two in a later edition)

If you are considering selling your property and would like a carefully considered yet upbeat and well-qualified view of the likely sale price of your property in the current market, then please feel free to contact us on 03330 430090.

Peter Ryder

Managing Director

Thorntons Property

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