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Why pricing is so important News Post Image 4th June 2024

Why pricing is so important

by Paul Howe

By Paul Buck, Director of Sales and Lettings

I wanted to share some thoughts on a topic that's super important for anyone looking to sell their property – marketing it at the right price. May sound obvious but alas some sellers are still swayed by the agent suggesting the highest selling price.

At Boydens, we've got a pretty solid track record when it comes to pricing properties right. In fact, we’re currently running at a 97% marketing to sale price ratio. So, let's look at why getting the price right matters, and how we achieve these results.

Attracting Serious Buyers

Pricing your property accurately is key to attracting serious buyers. If your property is overpriced, it’s likely to sit on the market for ages without much interest. The sweet spot is a price that reflects the true market value, making it attractive to buyers who are ready to make an offer.

Maximising Your Return

The ultimate goal is to get the best possible return. An accurate price means you’re not leaving money on the table, nor are you scaring off buyers with an inflated price. It’s all about hitting that perfect balance where buyers see the value.

Reducing Time on the Market

Properties that are priced right tend to sell faster. This not only saves you from the stress of prolonged selling periods but also reduces costs associated with maintaining a property that’s up for sale. A quicker sale means you can move on to your next venture without the property lingering on your mind (and wallet).

Ensuring Smooth Transactions

Overpricing can lead to complications down the line, especially when it comes to appraisals and financing. If a buyer agrees to an inflated price but the appraisal doesn’t match up, it can cause all sorts of issues, potentially derailing the sale. Accurate pricing helps avoid these pitfalls, making the whole process smoother for everyone involved.

How Do We Nail the Pricing Game?

So, how do we do it... here’s our secret sauce:

In-Depth Market Analysis We start with a comprehensive market analysis, looking at recent sales, local trends, and the unique features of your property.

Expert Valuation Our team of experienced valuers know the local market inside out.

Tailored Marketing Strategies Every property is unique, and so is our marketing approach. We use a mix of traditional and digital marketing techniques to showcase your property to the right audience.

Clear Communication We believe in being transparent with our clients. We explain our pricing strategy and keep you in the loop throughout the process.

Continuous Monitoring The market can change, and we’re always on top of it. We monitor trends and adjust our strategies as needed to keep your property competitively priced.

Wrapping Up

Getting the price right when marketing your property is absolutely crucial. I At Boydens, our commitment to accurate pricing has led to our impressive 97% marketing to sale price ratio. If you're thinking about selling, let's chat.

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