Competing in Todays Market
5th May 2015
When buyers have choice this can make them indecisive and prompts them to be selective and cautious before settling on the ‘right’ property.
If you are selling, this puts a huge onus on you to ensure that your property absolutely shines in relation to other properties that are competing for your buyers’ attentions and, ideally, affections. However, this is not the time to listen to the fawning estate agent who suggests a massively inflated asking price, in order to secure your ‘valued instruction’. Having said that, we are seeing some impressive figures being achieved, but this is always relative.
For example, if your property is going to look good next to the others that are available, then pricing not only has to be correct – it has to be attractive. Imagine a £10 note. It is definitely worth £10 – but could you actually sell it for £10? Probably not, but at £9 you would have so many people fighting over it that its value would actually rise! We find that well-priced properties attract more buyers, which in turn pushed the price up!
Likewise, if your property is slightly better than others on the market, don’t offset this by quoting a slightly higher price than theirs! In other words, make your property the best in the market when compared to others at the same price, and the best-priced property when compared to others of the same size/location/condition. If yours shines, you can expect an excellent sale price.
Finally, listen to your agent’s advice. Only they have a good handle on buyers’ immediate requirements, how the buyer perceives value and, importantly, vital buyer information as to what else they have seen and how it compares with yours. Why not let us help you use this to your advantage? Do call us on 01444 254400 or 01444 440400 for an informed opinion of what your property might be worth in today’s market.