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The Price must be Right!

Vital that sellers listen to agents

A study of 300,000 newly-listed homes across four months shows those that needed to be reduced had a one in three chance of finding a buyer (32%) within the timeframe, compared to a 63% chance if priced right from the start.

Over-priced homes could also cost sellers an extra 26 days on average to find a buyer. The average time to find a buyer if a property is priced right is currently 21 days, rising to 47 days if it needs to be reduced.

The analysis shows just how vital it is that sellers listen to their agent when they recommend the asking price that the property should be listed at. If sellers are serious about selling, then starting with too high an asking price can cause unnecessary delays, also make it a lot less likely they will actually find a buyer in the end.

The temporary stamp duty holiday means more sellers are in a hurry to get a sale through conveyancing, and with this also taking longer at the minute a realistic asking price could soon end up being the difference between completing in time or losing out on the savings.

Wilsons consider pricing to be one of the most important aspects of the service we provide, approaching the matter very carefully and in considerable detail when carrying out our appraisals. Our service is free of charge, if any readers would like an up to date appraisal at this very busy time, call us on 01823 324324 and we’ll be delighted to oblige.

By Chris Willey

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