Pitching the Asking Price
Pitching the right price for your property can be difficult to do. For houses on large developments it is less of a problem because there are often similar homes on the market and prices can be gauged from those – however don’t be fooled into thinking that asking prices are the same as selling prices. Just because you see an asking price advertised for a neighbour’s property, this is not to say that they sold the property for that sum.
Individual homes are harder still to value, especially in a busy market.
Difficulty is added because property values are a constantly moving target. An area needs to be short of, say, character cottages for only a few weeks before suddenly buyers will pay a premium price for them.
Generally, though, the higher the price, the smaller will be the potential market for any property.
Think of your marketplace as a pyramid full of buyers, with the highest paying buyer at the top, and with lots of other buyers at the bottom who would buy your property if you sold it for next to nothing.
Finding the buyer at the top of the pyramid is the equivalent of finding a needle in a haystack; so where you pitch your asking price will often be determined by how soon you need to sell.
Often it is best to pitch near to the top of the pyramid, where there are a few more potential purchasers, rather than pitch at the highest point where you might never locate the person who will pay that amount.
Tips for selling property:
- Getting Prepared
- Presenting Your Home
- What are the Costs of Selling?
- Choosing Your Lawyer
- Pitching the Asking Price
- Showing Your Home
- Negotiating
- What Happens Next
- Moving Day - Things to Remember
Woking: 01483 773773
West Byfleet: 01932 355355
St. Johns: 01483 757744
Lettings: 01483 745004
Woking: 01483 773773
West Byfleet: 01932 355355
St. Johns: 01483 757744
Lettings: 01483 745004