After some careful analysis that we would be delighted to present to any potential client wishing to sell their home, we seem to have bucked a national trend somewhat.
The latest data from NAEA Propertymark has revealed that, during Februrary, agreed house sales rose to a 10 year high – 74% of which were below the original asking price, suggesting sellers are becoming more realistic when it comes to property transactions.
This, although clearly good news, and personally to me, a positive move in terms of reality and affordability, is not what we have observed ourselves. Since January 1st this year we have agreed 35% more sales than the same period last year. Of this and if we consider 100% of our agreed sales we have found that 70% have sold for the asking price or higher.
As a business we are delighted with these results. Now we find that they may be even bucking the trend.
If priced correctly and marketed without compromise and as well as physically possible then asking prices and over asking prices can certainly be achieved.
If your marketing is simply so so and your asking price is too high then what hope could a seller possibly have. Please don’t fall down into this trap.
I valued a house on Friday that needed decorating, offered nothing exceptional at all and had been marketed for 10 weeks by another agent. The asking price was close to 10% too high, the photography was poor and the “professional” advice he received (which achieved only four viewings in 10 weeks) was “don’t worry about the decoration, the new owners can do it themselves”.
Honestly, it’s no wonder Estate Agents aren’t taken seriously sometimes.