“Deciding On Price”


Whatever anyone might say about location, condition, proximity to schools, size, etc., it is the price at which a property is initially marketed that is the key to a successful sale. But emotions often cloud good judgement. The chance to secure a high price can prompt sellers to quote too much, and the house then misses early buyer activity. Quote too little and the resulting fast sale can fuel resentment as you might feel you could have sold for more. So we need to ensure that the heart does not rule the head. You may have put a lot of time, love and money into the property and naturally want the price to reflect this. Maybe you need a certain amount to secure another property, or you simply want to track national house-price trends. Perhaps you are taking your guide from a similar property that has recently sold nearby. However, the only thing that really counts is the supply of able buyers in relation to the supply of comparable properties, and what those buyers are prepared to pay in view of such competition. Local estate agents are the only people who have a handle on both. Armed with this information your agent can make an informed recommendation as to an asking price that will maximise your chances of selling at an attractive figure within a realistic timescale. (See part two next week) If you are considering selling your property and would like a carefully considered and qualified view of the likely sale price of your property in the current market, then please feel free to contact us on 0191 2953322. Karen Blight & Lorna Sayers © Copyright 2011 next2buy Ltd