Let’s talk money. In closer detail, your marketing price when listing your home.
Your marketing price should be based on factual evidence within the local market. It shouldn’t be based on the figure you’d prefer without evidence of achievability. A good estate agent will inform you of a realistic valuation.
Importantly, a marketing price is a tool to attract the most interest to a property. If you choose the wrong marketing price it could impact your chances of achieving a premium price. If you set the market price too high, you may not attract enough interest and run the risk of the property becoming stale. Equally, price too low and you may miss the chance of achieving a higher price and also flood your house with property bargain hunters that won’t want to pay a realistic value.
When selecting your marketing price, your agent will be mindful of how the property will appear in an online search. For example, if you and your agent feel the property is worth £115,000 but is agreed that the best marketing approach would be ‘offers in excess of £100,000 you will appear in both searches up to and over £100,000.This strategy will maximise your audience exposure, create a demand for your property and ultimately get more qualified viewers in a position to buy. Every property is different and the marketing price demands attention from the offset. Be flexible, test the market at a price you and your agent are happy with and put plans in motion reflected from feedback.
Remember the marketing price is designed to attract. Once you have attracted a good level of interest in your property, the goal is to start negotiation, ideally with competitive purchasers. There’s a fine line, but get it right and you’ll be onto your next home happy.