How to price your home right for a successful sale
As experienced Swindon estate agents Home Finders understand well what sells and what doesn’t in the local market. And, very often, it comes down to price – and getting the asking price right in the first place.
Your asking price sets the bar for negotiation, so it’s something that is vitally important to get right.
Below, we look at some of the pricing strategies to help you on your way.
Pricing strategy 1 – price at market value
The most fail-safe and risk-averse way of getting your home sold quickly and for a good price. As agents, we can use our local market knowledge in Swindon and awareness of national trends to enable you to price your home at market value.
To determine the market value of your home, we will look at: comparable listings on your street and your postcode area, recent sales of similar properties in your and nearby neighbourhoods, current market conditions, the finishes, conditions and size of your home, and where your home is located.
In the latter case, what is happening now and what might be coming in the future? For example, the arrival of major transport infrastructure or town centre development could impact on the market price you set.
Prices are not the same in the town centre as they are in West Swindon. Different areas of Old Town attract different prices. Covingham and Liden are both in East Swindon but there are subtle differences. At Home Finders we know the different and will value your property accordingly.
Pricing strategy 2 – price below market value and hope for a bidding war
A more risky strategy is to set your property's price at below market value and then hope lots of buyers pile in to make offers, thereby improving your negotiating position and upping your property’s eventual sale price.
However, you should proceed with caution here. This strategy is most effective in a seller’s market where there is a limited supply of properties of your type for sale.
A terrible pricing strategy – price above market value and hope for the best
Evidence suggests that homes that sit on the market for a long time because they were priced too high initially typically end up selling for a lower price than they would have if they’d been priced correctly.
A home that’s priced above market value – and especially where this is very obviously the case – will be rejected by canny buyers, who will look elsewhere for better value for money.
If you’re not sure how much your home could be worth, a full market appraisal from an experienced estate agent like Home Finders can help to provide you with a good starting point.
Getting your asking price right from the outset is so important, so it’s crucial you have all the bases covered.
You can get in touch with our expert team today for more information or advice on the home selling process.
Director of Sales