Sellers warned about over-pricing

Robyn Hall

October 4, 2012

Rightmove’s research found that only 38% of home-movers would actually go and view a property if they considered it to be over-priced, even if it ticked all the boxes on their wish list, before deciding whether to put in a lower offer.

Rightmove director Miles Shipside said sellers can be tempted to price high on the assumption that they are giving themselves room for negotiation but in some cases this is acting as a deterrent.

He said: “Price is a critical issue for both parties in the current market but it’s much harder for a potential buyer to fall in love with a property if the asking price deters them from even setting foot through the front door.

“With less than 100 days until Christmas, sellers will need to gather the right market intelligence and think carefully about their pricing tactics if they are to stand the best chance of moving during this autumn season.”

Of the 62% that said they would not view over-priced properties, 20% stated they would make an enquiry to the estate agent to find out if the vendor would accept offers under.

Shipside added: “We urge sellers to do their homework and research comparable house prices so they have all the intel before they come to sell.

“Sellers are also advised to remember that the property must also be presented to showcase its full potential and to work with their agent to promote it well to attract as much interest as possible.”

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