A surprising reason why your home may not be selling…

It may be too cheap!

Here are 3 reasons you may need to increase your asking price:

  • Agents talk a lot about dropping the asking price so that it appears in a new price range. But surely that means it disappears from the one it was in?! Given that buyers spend around 3 months on average looking for their next home, the pool of people who are considering your home is changing four times a year, so you aren’t necessarily going to appear in more online searches, just different searches.
  • If your price has a 9 at the end of it – round it up! By having an asking price ending in 999 you’re potentially missing anyone who has more money to spend. The old-fashioned pricing of £599,000 £595,000 etc just doesn’t work any more.  By pricing your property at a rounded figure, for example £600,000, you then ensure that your house appears in as many searches as possible.
  • Buyers like to spend their budget – and some! If you’re too cheap your house may be dismissed as inferior to a more expensive alternative – just because it’s more expensive than yours.

Remember – homes don’t sell on price – they sell on emotion. Your buyer needs to make an emotional connection to your home, and if they do, price becomes far less important to them. In fact, if it’s just a little bit out of their budget, all the better – it’s actually more attractive to them!

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.