| Why choose Marriot to Sell your Home? | Choosing the right agent | Presentation of Your Valuable Asset | Overpricing |
The overpricing trap
As a seller, it is tempting to favour the agent providing the highest valuation for your property. However, there are sound reasons why you should avoid overpricing your home in the first instance, as overpriced homes often end up eventually selling for less than they may have done if marketed correctly from the start.
Buyers choose by comparison with similar property. Why would they buy your house if it is more expensive than a similar alternative? This simply does not make sense. Priced optimistically, your property is unlikely to sell until such time as any comparable homes have sold.
Secondly, buyer activity is highest when the property is ‘fresh’ on the market. If your asking price prevents buyers from seeing your home, you will have missed this opportunity and may have to wait some time before a suitable buyer comes along. Competition between buyers drives up your value, whereas time on the market drives it down.
Sellers often say “We can always take an offer!” The problem arises that with fewer buyers viewing your home, the chance of an offer being received is significantly less.
Intense buyer activity in the early days of marketing is the key to achieving the highest possible price for your property. At Marriotts we aim to stimulate such activity. So be realistic, price correctly, then enjoy the response you anticipated.
Achieve the best price, in the quickest time, with the minimum disruption.
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