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LOCAL MARKET INSIGHT
The first thing for you to decide is how much you are going to advertise your property for.
You can have the best marketing in the world but if the price isn’t right, it will NOT sell.
Put it on for too much money and you will end up having to have the price reduced. This hurts your chances of selling.
Unfortunately, too many agents will tell you what you want to hear! Either that or they use the old “Let’s give it a try at this much for a few weeks and see what happens.” It’s utter nonsense! Make sure your agent can prove to you what your property is worth.
PRICE REDUCTIONS, just how damaging are they?
The latest Data from Rightmove & Zoopla PROVES that:
What is your property worth today?
Contrary to popular belief, when selling your home, its value is determined by one thing and one thing only:
“What a qualified (and able) buyer is willing to pay for it.”
“No more and no less.“
The bottom line, and inescapable truth is this:
“Your home is never worth more than what a buyer is willing (and financially able) to pay.”
So how do buyers decide what they’re willing to pay?
What buyers will be willing to pay for your home; in today’s market (i.e. what they think it’s worth) will be determined by comparing your home to the others for sale right now.
In other words: “Today’s competition determines today’s value of your home.”
Makes sense when you think about it, after all…
…No buyer can purchase a property that has already been sold. They can only purchase a home that is currently for sale.
You’ve actually already experienced this first-hand..
..When you bought your current home, how did you establish it’s value?
This graphic is from property market data company ‘THE ADVISORY’.
This shows how an over valued property ends up selling for less than it is really worth.
Does all that sound familiar?
We hope so, because we’re happy to report nothing has changed. House buyers still behave in exactly the same way today.
Estate agents are NOT all the same
True, estate agents all do basically the same ‘stuff’ i.e. marketing, negotiating, building relationships with buyers.
It’s just that some estate agents do this ‘stuff’ substantially better than others.
Experience tells us there is roughly a 10% spread (either side of the theoretical market value of your home) where your sale price can end up.
Your choice of estate agent.
The skill of that estate agent.
The suitability of that estate agent to sell a property like yours.
Bottom line: A house is never worth more than what a buyer is willing to pay but, what a buyer is willing to pay isn’t fixed.
The right estate agent will get them to pay you more providing it is priced correctly in the first place!
What you paid
What you need
What you want
What your neighbours say
What your friends say
What estate agents say
Amenities
Condition
Size
Location
Market Strength
THE MOST IMPORTANT THING TO GET RIGHT!
Here at JUKES ESTATE AGENTS we have not only a massive amount of local property knowledge, we have invested heavily in data that will show you exactly how much your property should be listed for to make sure it actually sells for what IT IS REALLY WORTH! This is why we consistently have the fastest selling times in your area!
Give us a call or use our form to get in touch today!