Selling your home can be a challenging process. There are many elements you need to consider, but when it comes to attracting attention to your home, the price needs to be accurate. If you fail to price your home accurately, you will struggle to draw buyers to your listing, and selling your home becomes a complicated process.
If you place a low value on your property, you will likely generate a lot of interest in your house. However, if you sell at a low price, you lose out on money. Depending on what your next move is after you sell your home, this may limit your options.
Vendors who want to sell their home quickly find that lowering the price of their house is a suitable strategy. If a short selling time is more important to you than the sales price, by all means, choose this option and generate a lot of interest at short notice. However, most vendors want to sell for the best possible price, which makes accurate pricing essential.
If you place too high a value on your property, you may find no one shows an interest in your property. Regardless of how stylish the house is or its attractive location, if people don’t look at your home’s marketing, it is tough to sell your home.
Buyers search on property prices
Bear in mind prospective buyers set minimum and maximum price levels when they look for a new property. If your house is priced outside of these search limits, the buyer won’t get to see your home. Vendors need to place their apartment in front of as many willing buyers as possible, so limiting the number of buyers that can see your home is a wrong starting place.
There has been increased focus and attention on property valuations of late, thanks to an investigation carried out by The Times. More than 200,000 online property listings were examined, and some big names in the industry were found to have over-priced property.
While there are some reasons to overvalue a home or factors in why an estate agent may place a specific value on a property that doesn’t match with market expectations, some agents do exceed property to gain instructions.
Find an agent who puts your needs first
Vendors need to be aware of this practice, and they need to ensure they find an estate agent with local knowledge, and who is willing to work hard on their behalf. At Oakfield, we are pleased to say we offer local expertise, robust support and attention to detail that provides you with confidence when selling your home.
While there are many opinions as to the condition of the current property market, homes are selling. Buyers are looking for value, but vendors can still achieve a fair price for their house, as long as it is presented and promoted effectively. If you are keen to sell your home for an adequate amount, and efficiently, contact us today, and we’ll be happy to help you.
Neil Newstead, FARLA MNAEA MIRPM
Chief Executive Officer, Oakfield Estate Agents