- An overpriced property will always take longer if not forever to sell.
- A lower priced property will attract more buyers and take you less time to sell.
When determining the asking price of your home, try not to be ‘blinded’ by vanity valuations. When you hear the price, if you think “wow, I wasn’t expecting that” and the price is higher than you were expecting, it probably is too high! Please ensure the final decision you make accurately depicts the market value of the property, look at recent sales in your road of similar properties, that is the best way to determine what you are likely to achieve. Overpriced houses take a much longer time to sell, purely because fewer people can afford them. Plus everyone loves a bargain, so houses that appear more affordable appeal to a wider market.
We find that the most effective strategy for attracting more buyers is to price your property slightly under market value, leading to more bids and ultimately a faster sale.