Home values are a delicate balance. Get too high, and you’re likely to find yourself on the market for months (and subsequently start making more and more reductions that tip off buyers). Head too low and you can feel as though money is being given away. The goal is rational pricing and enough demand to produce healthy offers. For an Estate Agency Gloucester, visit //www.thomasandthomasproperty.co.uk/
Step 1: Sold prices, not asking price
Asking prices are marketing. Sold prices – what buyers are actually willing to pay. Compare against past sales of homes similar in size, condition, parking and street that ideally sold within the last 36 months.
Step 2: Indicate the condition honestly
Buyer’s price in work needed. The price of a property can drop dramatically due to decrepit kitchens, outdated decor and a mish-mash of worktop appliances. Regularly, homes that need updating are listed on the market for more or less the same price as fully renovated properties of similar size and calibre.
Step 3: Take into account the actual demand in your area
A house can be a great price but not sell if it is located in the wrong school catchment or has poor transport links (it depends on how many of that same property are for sale also). The thing is, when there’s plenty of competition, sharp pricing counts.
Step 4: Pricing band (and strategy)
Your agent must be able to provide a range, instead of some magic number. Decide whether you want:
Best price (may take longer)
Best time because you will have faster sales and a slightly lower price.
Step 5: Test the market early
The first 23 weeks are key. Views are low, the problem is usually price, not photos.