“You can always decrease the price, but you can never go up.”
Pricing your home accurately when you go onto the market for sale is the most important factor to consider when dreaming of getting the most money for your property. The quote at the top of this guide is from virtually every home owner who thinks pricing a property is not important and doesn’t believe their estate agent if they say £5,000-£10,000 can make a massive difference. Properties can go stale if they are left on the market too long and we see it on a regular basis, I’m sure you have seen it too, the house at the end of the road or the house next door to your friends, think back to any house that has been on the market a while and ask yourself why.
I often use the analogy of selling a doughnut in a bakery, if it is overpriced it won’t sell on the first day, then they might reduce the price, but if you saw it on the first day you know by then the doughnut is a day old and nobody wants a day-old doughnut. That is the same problem when trying to sell a house, potential purchasers might choose not to view thinking there is something wrong with a house if it has been on the market for six months, but in actual fact it was just overpriced for four of those months. If you want an accurate price for your property you need a property expert who knows the local area and that’s why love2move partner with high street agents so you can use their knowledge to list your property at the correct price for your area.
Timing is another important factor to consider when trying to squeeze the most money out of your home, see our guide on best time to sell your home here: https://www.love2move.co.uk/blog/is-now-a-good-time-to-sell-my-house/ But I believe the most important thing you can do when deciding if now is the time to get the most money for your home is to assess your competition. It’s easy these days, log online and put yourself in your buyers shoes, is the house on the next street with a new kitchen more likely to sell if it’s at the same price? Even better if you want an honest critique is to get a good friend to do it and compare similar properties to your house, ask their honest opinion on which looks nicer online and if you can change things to make yours appeal more don’t be afraid to do so. If you can’t find any similar properties to yours- perfect, now might just be the best time to go to market, you could list at a slightly higher price than if you had lots of competition, its simple supply and demand.
Marketing a property is just like marketing any other product so maximising your return means you have to have a good marketing mix: consider the 4 p’s: price, placement, product & promotion. A lot of these are the same when selling any house but you should focus on getting the price right, choosing the right estate agent (promotion), and product- what can you do to make the product you are selling (your home) more appealing.
The promotion element of the marketing mix can be amended or improved with love2move add-on’s. I think the negotiation add-on is a must have, if you are looking to maximise the return for your home, let a professional negotiate for you, unless of course you negotiate regularly as part of your job and are confident the skills overlap to selling a house.
I hope this guide has been useful for you and hopefully you will see the benefits of using love2move to sell your home. Enlisting the right expertise at the times you need help to allow you to maximise your returns is something that is really important to us.
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