Don’t Be An April Fool: Why Setting The Right Asking Price for your Property Is Vital
Is the price right? Making the leap to sell your house is a big decision, and usually comes after lots of discussions about where to move, why, and what sort of house to buy next.
But one key aspect of selling your house, and perhaps one of the most important, is the price. What you get for your home may affect what you can afford next.
Getting the price right is absolutely crucial, but what exactly is the right price?
Our team at Robert Ellis have years of experience and expertise in the NOTTINGHAM area and we know what every type of property should be valued at. So, how do you set the right price so that you don’t become an April fool?
What is the asking price?
Sounds simple, doesn’t it – what’s the asking price? The asking price is the price at which we will market your property. It’s the price we think you should be selling your house for – and it should be a fair and achievable price.
We come to this price based on experience and expertise and by looking at a variety of factors, such as what the neighbouring houses have sold for, what the area is like, and what the demand is.
Then there is the condition of your property, and whether it needs any work doing to it. It might be that a house very like yours sold for a certain price and you’d like yours to sell for the same price – but you must consider whether your house in the same state, or does it need some work doing to it?
Is the asking price the right price?
What is the right price? There’s often a debate about what the right price is. We think it’s the price that the house sells for, and of course we will work to get the absolute best price for you. We’re genuine and believe that we should be realistic and not just value your property at a high price for the sake of it. If a house is marketed too high, it may not garner interest or sell at all. If it is marketed too low, then you won’t get the money you deserve in the bank.
Do you have to accept the asking price suggestion from your estate agent?
No of course you don’t. You may have done some homework and come up with a different set of answers to your estate agent. Perhaps you think you can squeeze more profit out of your house. Fair enough, you can always ask your agent to market your property at a higher price. A word of warning though – however strongly you may feel, savvy estate agents know the local market and will know what prices will work to ensure your property sells in a satisfactory timescale and for the right price.
Will you achieve the asking price?
Good question. Priced correctly, there is no reason why your property cannot achieve the asking price. Of course, there are many factors that come into play when trying to achieve this. We’re confident that the price will be right, but there are things that you can do to help things along too. Make sure your house is presented nicely, that the frontage is welcoming, the rooms are clean and tidy, and you’ll make a great impression. When your house is ready to go on the market, make sure it is buyer-ready – rooms are prepared, garden looking good – set the scene.
What happens if your property doesn’t attract interest?
If your house looks great but it isn’t attracting viewings, there may be good reason for this, and of course, the price might be one of them. Is the asking price too high and putting people off? Is it too low and people are thinking there might be something wrong with it? If you’ve over-ruled your estate agent and have been tempted to advertise your property at a price over their valuation or if you’ve chosen to list with the agent who provided the highest valuation you may have to accept that the price needs revisiting. Get it right the first time by choosing the correct estate agent.
Selling your house can be emotional, of course it can – you have brought your family up in it, or you may have spent many hours lovingly painting and decorating and making it yours. But, when you’re selling, get your business head on and make sure that you see it as just that – something you are selling for a realistic price.
Speak with us, the NOTTINGHAM home and property experts. We’re the estate agency of choice in NOTTINGHAM so we know what we’re doing and will help you achieve the right price for your property. Email us at neill.millward@robertellis.co.uk or call us on 0115 648 5485.
