When it comes to attracting buyers to your house, it is essential that you price your home accurately, and a failure to do so can cause problems in selling your house.

Selling your home can be difficult, but there are ways you can make the process simpler and more efficient. At Ariston Property, we do our best to help you reach prospective buyers and sell your home. Promoting your home in the right manner is crucial in selling your home but of all the different aspects that matter, an accurate value is likely to be the most important.

Given that the British property market has slowed down in recent times, for many years, it is crucial to value property correctly. A study was undertaken on house sales from January 2018 to June 2018 which found that 70% of completed house transactions was when the asking price was met or exceeded.

Many estate agents think a high property price is damaging

This survey canvassed more than 50 estate agents, with the results confirming what many professionals have suspected. While some professionals believe starting with a high property price and then lowering the price provides you with an added opportunity to sell your home, this tactic may hamper your chances of selling your home.

Andrews is the company that carried out this study and a Chief Executive of the firm, David Westergate, said; “Reports which focus on vendors reducing the asking price of their property are, more often than not, tales of an inaccurate valuation in the first place. A well-priced property will sell fastest. We’ve seen in the first six months of this year that properties which sold either at or above, the asking price spent just 49 days on the market which compares favourably with the industry average of 96 days.”

Avoid setting a low price for your house

Unless you are keen to sell your home quickly, you shouldn’t set a reduced price for your property. A cheap home may generate considerable interest, but this action leads to the vendor losing out on money. Conversely, setting too high a price may mean many buyers don’t see your home.

With online property portals, buyers set parameters for house prices. Prospective buyers won't see homes priced above their budget, which means you may limit who engages with your house.

Also, modern buyers are savvy. If the price of a property falls, the buyer will question why this is the case. A fall in price will raise suspicions regarding property and may lead to some buyers deciding against developing an interest in your house.

Of course, an accurate valuation for a house depends on more than the property’s condition. An accurate appraisal depends on how the market is performing. The demand for apartments in your local area and the supply of homes influences what a buyer is willing to pay. Therefore, you cannot solely base your price on your home; you need to look outside of your house and street.

Therefore, you need support from a local professional to price your property accurately. Calling on a local estate agent who understands the market and has expertise in selling homes is a sensible approach.

If you are looking to sell your home, it is best to call on support from experienced professionals. At Ariston Property, we are delighted to say we have helped many vendors sell their home for a fair and just price. Anyone looking for assistance in selling for the best possible price should get in touch.