Once you make a decision to put a property on the market, how do you know how to price it accurately? We have these five suggestions.
You need to be realistic when you price your property – the memories that make the house so valuable to you aren’t shared by the buyer. More likely, they are thinking about what they will change about the house! There is no point putting a value on sentimentality.
Consider both the amount that you would like to receive in your ideal situation and the figure that you are prepared to accept if a cash buyer walked in tomorrow. Knowing both of these at the outset will help you to price your home and also make negotiations with buyers more straightforward.
It helps to have an awareness of which direction the house prices in your local area are travelling, rather than just the price at the moment. This can also help you to price cleverly. For example, if prices are dropping by one per cent every month and you want to sell within three months – drop your price by three per cent at the outset. This will give you a more competitive price and increase the chances of getting a good offer. Additionally there are areas and types of property where prices are still increasing.
The media only tend to publicise very high or low statistics, but whilst national reports on house price trends can provide a useful indication of the state of the wider property market, it’s essential to realise that housing markets are local. Even within local areas there can be a number of micro markets. Make sure you do your research into how house prices have been affected in your region, town – even street. Take a look on property portals see how other properties in the area are priced. Also check to find out how much similar homes on your street sold for; a number of websites provide this information.
Using the DIY method of pricing and selling your home may seem appealing to save you money, but to gain the maximum price you need to be able to:
a) get your property in front of the widest possible audience
b) present it better than the other similar properties being marketed
c) be able to negotiate really well on your most valuable asset
d) have the time and skills available to do all of the above better than the professionals who do this all day, every day and whose livelihoods depend on them being the best at these.
When we value your home we tell you how much it’s worth in a “market appraisal”. However, at Cobb Amos we also really value your home. That is, we know how much it means to you. Financially, it is usually your greatest investment. Emotionally it often holds many memories. We really do care about you and your property and will take every care in looking after your property transaction.
Often the easiest way of getting the most up-to-date information you need is to consult a respected, local professional. Agents who are members of the NAEA, which means they are experienced and qualified, and a professional agent can be invaluable in the selling process.
We will give you a free market appraisal to accurately value your property to achieve the best possible price in the current market conditions. We take time to get to know you and understand your requirements to form a strong bond with you and build trust. We are brilliant at tailoring marketing strategies to you and your property and guiding you on how to maximise value and present the property well. More sellers than ever are now choosing Cobb Amos for our trusted reputation and friendly bespoke approach. We work within your timescales, financial situation and always keep your property’s unique selling features in mind.