The TOP 5 Reasons That A Pricing Strategy Could Make You MORE Money When Selling Your Home.
Coming up with the correct price when selling your property can be tricky.
You have your valuations appointments with the agents and they all come back with different prices.
The reality is that there is no exact science.
But the good news is, all you need is a STRATEGY!
5 reasons that a pricing strategy could make you more money when selling your home.
Coming up with the correct price when selling your property can be tricky.
How are you supposed to know?
You have your valuations appointments with the agents and they all come back with different prices.
One may even be much higher than the others.
So does that mean that the highest agent can actually get you more money?
Or does it mean that they are trying to secure you as a client by over-valuing and you will end up sitting on the market for months on end?
The reality is that there is no exact science.
And the housing market, like any other market, fluctuates and changes all of the time.
There is no right or wrong answer.
You don’t want to sell for less than it is worth, but you also don’t want to be stuck on the market with no offers either.
So what is the best way to price your home for sale?
Should you just go with the highest price and hope for the best?
The good news is that there are ways that you can ensure that you have the fastest sale, for the highest price possible.
All you need is a strategy!
- Take the average price of all of your valuations - Most people have at least 3 valuations. This is so that you can use the 3 (or more) opinions of the agents, and take an average of the prices to get the most accurate market value of the property.
- Think about the prefix wording used before the price - There are many options here, such as ‘Guide Price’ or ‘Offers in the region of’. You could even use ‘Offers Over’ which can be a good way to advertise on the lower end of your property value and generate as many viewings as possible. Your agent will be able to guide you here to make the best choice to fit with your strategy.
- Choose your starting price carefully - The initial launch to the market is the most important time for any property sale so it is vital that you have got it right from the outset. If you go too high you will find that your viewing numbers will be low. The only way to really get those viewing numbers up is to reduce the price. Often this can lead to a marketing price that is ultimately less than you were originally valued at.
- Keep it simple - Use round numbers. You are not selling a second-hand car and no one is fooled by the ‘£9,999’ pricing. If your property is valued at £250,000 then go on the market at £250,000. £249,999 is confusing and unnecessary. There is also another very important reason for this….
- Use the property websites’ price brackets - Almost all buyers start their property search online, using property portal websites, or agents’ own sites. All websites with property listings use a price band system to allow the user to search for the properties within their budget. If you list for £249,999 and someone starts their search at £250,000, then your property is going to be missed out and they will not have seen it. By using round numbers you could be doubling the number of views online.
Selling your home is a huge deal.
It is the biggest investment that most people make, which is why it is super important to maximise the value when you come to sell.
But it is a fine line between hitting that sweet spot and going too high with your price.
With such a lot at stake it makes sense to have a plan.
Just going with the highest valuation price is foolish, and will probably end up costing you money in the long run.
Until you have the cash actually in your bank account on completion, your property value is just a number.
So, use the evidence provided by the agents at the valuation, and plan a strategy with your chosen agent.
Take a moment to think about the marketing and pricing thoroughly before you launch your property to the market because you only have that first 4 weeks of marketing to make an impact - make those weeks count!