Research carried out recently by Rightmove has concluded that properties priced correctly when first coming to market are twice as likely to sell than those which have to be reduced in price at a later stage due to an inaccurate valuation.
The recent study followed the progress of 300,000 newly listed homes over a four month period. Properties requiring a price reduction had a 32% chance of finding a buyer within the study timeframe, this was in contrast to a 63% chance of selling if priced correctly from the start.
Tim Bannister, Rightmove’s director of property data, said: “This analysis shows just how vital it is that sellers listen to their agent when they recommend the asking price that the property should be listed at. If sellers are serious about selling, then starting with to high an asking price can cause unnecessary delays, and also make it a lot less likely they will actually find a buyer in the end.
“A good local agent will be able to look at a number of things before valuing a home, such as the condition of the home and comparable properties, making them the experts at getting the price right first time.”
At Frank Modern, we are introducing a new style of estate agency to the Peterborough area. Our unique sales process is proven and effective, underpinned by expert, accurate valuations which give your property the best possible chance of selling both quickly, for the best possible price.
By continually monitoring the market, we ensure our valuations are as accurate as possible. We consider several factors, including local market trends, area demand and recent sales, to name a few.
For an expert valuation of your property, or if you have any questions about the current property market, please contact us on 01733 979 033