Selling your home can be a significant life event, filled with anticipation, excitement, and sometimes a touch of anxiety. One of the most critical factors that will influence the outcome of your home sale is how you value your property. It's not just about setting a price that suits you; it's about finding the sweet spot that attracts potential buyers, keeps the process moving at the right pace, and ultimately leads to a successful sale. In this blog, we'll explore why valuing your home properly, realistically, and with the right agent can make all the difference in achieving a quick and successful sale.
Accurate Valuation: The Foundation of Success
The first step in the home-selling process is determining the right price for your property. This decision requires a balance between your emotional attachment to the home and the current market conditions in and around Newcastle-Under-Lyme. The value of your home will depend on a number of things including its location, condition, and any special features, as well as the current market conditions and of course the wider economy. It’s not a straightforward thing to be able to bring all these aspects together to get to the right price for your property.
Overpricing your home can lead to your house sitting on the market for a while, as potential buyers may be deterred by the high price tag. Also don’t forget that even if a buyer will pay an inflated price when it comes to them getting a mortgage the sale could fall through when the lender does their own valuation. If the mortgage valuation is much less than the offer received it’s unlikely that they will offer your buyer the mortgage they need.
Conversely, under-pricing can result in financial loss, dissatisfaction, and may make it more difficult to afford your next property.
By working with a skilled local estate agent in Newcastle-Under-Lyme who understands the local market, you can receive an accurate appraisal of your property's value. These professionals use their expertise, comparative market analysis, and access to recent property sales data to provide you with a realistic price range. This knowledge is invaluable in attracting potential buyers who are looking for homes within that range. Whoever you ask it is worth checking out the estate agency track record by taking a look at the properties they have sold recently and how quickly their sales go through – and definitely be wary of any which look like they may suggest a high sale price to win your business but then take a long time to get a sale achieved for you because they’ve pitched it too high.
Realism Sells Faster
While setting a realistic property price is crucial, it's equally important to be realistic throughout the selling process when it comes to timescales and the steps you and the buyer will need to go through. Unrealistic expectations can lead to frustration, delays, and missed opportunities. Here's why a realistic approach and price is key to a faster sale:
- The right price attracts serious buyers: buyers today are well-informed, thanks to the internet. Overpriced properties quickly deter serious buyers who recognise the mismatch between your asking price and local property market trends. Realistic pricing, on the other hand, encourages genuine interest.
- Setting it right from the start cuts down on negotiation hassles: overpriced homes often lead to prolonged negotiations. Realistic pricing reduces the need for extensive haggling, as buyers are more likely to offer reasonable bids from the start.
- Improve your chances of a quick property sale: homes priced accurately tend to spend less time on the market. A property that lingers for an extended period can raise suspicion among potential buyers, further reducing your chances of a successful sale. If buyers can see that your property has been on the market for many months they will immediately be put off.
The Right Agent: Your Guiding Light
Choosing the right estate agent can make or break your home sale. A skilled estate agent will bring several advantages to the table:
- Local market expertise: local estate agents have an in-depth understanding of the market, which enables them to provide an accurate valuation.
- Pricing strategy: they can help you devise a pricing strategy for your property sale that maximises your chances of a quick and successful sale.
- Effective marketing: a reputable agent will employ a variety of marketing techniques to showcase your property to a broad audience, increasing your chances of attracting potential buyers.
- Negotiation skills: agents are experienced negotiators who can represent your interests effectively during the negotiation process, and provide you with some really useful property negotiation tips.
- Problem solving: in the event of complications or issues, a skilled agent will navigate the complexities of a property transaction, ensuring a smoother and quicker sale.
In conclusion, valuing your home properly, realistically, and with the help of the right agent is the surest path to a quicker and more successful sale. By aligning your expectations with market realities and calling on the expertise of a qualified professional, you can sell your home at a price you are happy with and within the timeframe which works for you.
Here are Heywoods we have been trusted by local people to sell their homes for more than 140 years and to provide accurate property valuations in Newcastle-Under-Lyme and surrounding areas. We are not part of a chain and we don’t have a headquarters hundreds of miles away. We know the local area inside out, and we use that knowledge to give you the most accurate possible valuation for your home. We’re here to help with all estate agent services in Newcastle-Under-Lyme and across the surrounding areas.
Contact us today for a no obligation valuation.