Getting your home's value right is key to how appealing your property will be to potential buyers when selling - find out how to get your magic number here.
How much is your house worth?
Selecting the right house price for your home can be a challenge, but our experts are here to help you. Below are a few key tips on setting the right price for your home. Here are our top tips.
- Setting the right asking price when you're selling a property is essential for a successful sale.
- The price you set has to be realistic, not speculative.
- If you set the price too high, your property will be discounted by most potential viewers before they even take a look.
House valuation - get it right from day one
Your home attracts the most attention and online views from buyers during its first couple of weeks on the market, so this is when you really need to get viewers interested. If your asking price is too optimistic, it will put viewers off at this crucial time. You can get an initial idea of what your house is worth by using our online house valuation tool.
Set your price based on evidence
It’s always tempting to choose the estate agent that gives you the highest valuation for your property. But always ask them to justify the price they quote. Ask them what properties have been sold in the area at that price to support their valuation. If they can’t provide examples, the chances are they are giving you a speculative valuation.
Evidence of similar properties selling at similar prices is key to setting a realistic price when selling your house.
Get the balance right
Preston Baker valuers use all available evidence combined with their own knowledge of the market to set realistic asking prices. We want to set a price that’s high enough to give you a great return, but not so high that it deters potential buyers from taking a closer look.
Test the price before launch
One method we can use to ensure we get the price right at the outset is to test it on selected buyers. Using our databases, we can identify key prospective buyers and invite them to an exclusive viewing before your property goes on the market. We ask these viewers for their feedback on the property, particularly the price. This early testing helps us to set a price that is most likely to generate plenty of viewings once the property is launched to the market.
Realistic valuations mean faster sales
Our experience tells us that more than 70% of properties which sell in their first week on the market, sell for more than the asking price. So setting a realistic, rather than a speculative, price is likely to result in you achieving higher offers for your property in a much shorter time-frame.