Arriving at ‘the right price’ for your home in Dorset
If you’re looking to sell your house in Blandford, Dorchester, Shaftesbury, Sherborne, Weymouth, Wimborne, or any rural towns or villages in-between – take a read of our article below, letting you know how to arrive at ‘the right price’ for your home.
Sometimes, different agents will come to different valuations, and of course, there are reasons for this, such as an estate agent simply trying to win your business or perhaps a different level of experience and knowledge. But what is the right price?
In some respects, this is the million-dollar question. Is your property priced on the low side to sell quickly, or is it priced relatively high so that you can potentially make more money?
A basis for arriving at ‘the right price’ would be to consider what price you want or need to sell your house for, and if you are prepared to lower your expectations if the requirement arises.
Perhaps you are frustrated because you seem to get a lot of viewings but no offers? One of the reasons could be that your house has been overvalued. Potential buyers might like the look of your house but fail to view because they feel the asking price is too high. They may view, and they may love it but still feel it’s not worth the price-tag. Not all potential buyers will feel they can risk putting in a low offer.
If you do feel things need to change, do not be afraid to speak with your estate agent. After all, it’s in their interest to get a sale, so if their strategy needs to change, it should.
Perhaps you feel your property has been undervalued? You might get an offer, or multiple offers, super quickly and this may worry you into thinking you could have achieved a higher price. But that is not necessarily the case. If given the correct marketing, your property will usually achieve it’s market value regardless of how low you pitch the price. Remember, it’s only worth what someone is willing to pay for it, and the best way to find out what that figure is, is to have multiple offers in a competitive bidding environment.
Conversely, if you are getting no viewers and your property is on the market at a lower price than similar homes which have sold nearby, an under-valuation might be making people wonder if there is something wrong with your property! You should also consider whether your photographs and advertising materials require some attention.
The best advise we can give if you are concerned about your marketing price is to speak to your agent. We cannot stress strongly enough that communication is key. Don’t be afraid to ask the questions and challenge. It’s your property that you are selling; you are in the driving seat. However, if you feel you are not receiving a good level of service from your agent, it may be time to consider if it’s time for a change.
At Dorset Property we use our skill, experience and local knowledge to place your property on the market at the right price. If we can help you, give us a call on 01305257357 or email firstname.lastname@example.org and we will be delighted to help.
Added: 12th April 2021