Why does the right asking price make a difference?

As estate agents, we have seen that many properties sell more quickly and for more money when the listing price is set correctly. In fact, there's a lot of research to back this up! In this article, we'll cover why proper pricing matters in order to help your property sell faster and for more money.

Asking price affects viewings.

The asking price of your home will affect the number of viewings. If you get a lot of viewings, it's likely that you'll get more offers. On the other hand, if you don't get many viewings and only have one or two low offers on your property, then perhaps it's time to lower your asking price.

The best way to determine whether or not an asking price is right for your home is by comparing it with similar homes in the same area--and this can be done through research on Rightmove or with your estate agent via comparables.

Your asking price can help you sell or let more quickly.

Ask yourself this question: "What is the most I can get for my property?"

At first glance, you might think this is a silly question. After all, you're selling your home and want to maximize your profits. However, many sellers set their asking prices too low because they believe that if they ask for too much money, buyers will come over with lowball offers and make them an offer that's easy to accept--and then walk away with more than they would have had if the seller had priced their property appropriately in the first place!

But what happens when a seller prices too high? Well... nothing really! If someone wants to buy your property but thinks it's overpriced, they'll simply keep looking until they find something else at a better price point (or give up altogether). Or they won't see your home as what in fact they are looking for In your home is out of their budget, so may not see it on portals such as Rightmove or Zoopla. In fact, many homeowners who haven't sold until after several months on the market report regretting not pricing correctly from day one because by then there's already been plenty of time wasted while waiting around for potential buyers who never materialized due to poor initial pricing decisions made earlier in the process.

Buyers will pay more than the asking price if they like it.

Buyers will pay more than the asking price if they like it.

The seller should get the highest possible price, but not at any cost. The seller should not be greedy and hold out for an unrealistic price, because there is no benefit in having an unsold house on your hands while you wait for someone else who's willing to pay more than what everyone else thinks is fair market value (FMV).

If you want to sell your property, it's important to get the right asking price. If you're looking for tenants, then the same rule applies! You should also think about how much your home is worth when buying or renting elsewhere so that you don't overpay on rent or mortgage payments.

Would you like to know what your home is worth with comparable information? Call us today on 01233 501601 or click here for a sales or lettings valuation.