The Most Expensive Mistake You Can Make When Selling Your Home Is Overpricing It
It sounds counterintuitive. Surely it’s safer to put your property on the market at a higher price and reduce it later if you need to? It’s one of the most common assumptions sellers make.
Unfortunately, it’s also one of the most expensive.
Not because you might have to reduce the asking price.
But because the moment your property comes to the market, something incredibly valuable begins to fade.
The Excitement of Being a Brand New Listing
You only get one chance to make a first impression with the market.
That’s why the first few weeks after your property is launched are often the most important of the entire marketing campaign.
Every serious buyer who has been waiting for a property like yours receives an alert. They compare it with every other home currently on the market and decide, often within minutes, whether it’s worth arranging a viewing.
If the price feels right, they’ll book a viewing.
If it doesn’t, many simply move on.
Once that initial excitement has passed, it’s almost impossible to recreate it. Even if you reduce the price a few weeks later, you can never relaunch your property as brand new to the market.
An Honest Conversation Is Worth More Than an Optimistic Valuation
At The Mather Partnership, we believe our job is to provide honest, evidence based advice, even if it’s not always the highest figure a seller hopes to hear.
Pricing a home isn’t about achieving the highest asking price. It’s about achieving the highest selling price the market is prepared to pay.
Those are often two very different things.
A realistic asking price encourages more buyers to view your property, creates stronger competition and gives you the best possible chance of achieving an excellent result. An inflated asking price, on the other hand, can reduce interest, slow momentum and ultimately limit your property’s potential.
The best marketing in the world can’t persuade buyers to pay more than they believe a property is worth. Getting the price right from the beginning gives your home the greatest opportunity to stand out while interest is at its highest.
That’s why pricing correctly from day one is one of the most important decisions you’ll make when selling your home.
If you’re thinking of moving and would like straightforward, honest advice on what your property could achieve in today’s market, we’d be delighted to help. Book your property advice meeting with us here.
The Mather Partnership
Helston and Hayle
Local. Independent. Trusted.