Let's Go Fishing
Posted on 5th June 2019
When selling a property, it is very much like going fishing. if you put the bait where the fish are, you catch fish. Likewise, if you put the "bait" where the buyers are, you sell a house!
So what is the "bait". It is a combination of things, but essentially the two most important aspects are the price and the proposition. The price over-rising everything. If you price a house too high, and don't put the "bait" where the fish are, then selling the property becomes much tougher, as you won't have as many bites! On the other hand, put the "bait" where all the fish are and you can have your pick of the bunch, but sometimes you may have to through a few fish to find the one you really want.
Yes, being bullish with your pricing can be a little scary but it impossible to undersell a property, you can't do it, I've tried! You price something low and the price just rallies up, buyers are not stupid, they know what a house is worth. And because they know what something is worth, the ideal scenario is to flush as many people out for a property as you possibly can and LET THEM SET THE price! More attractive prices means more viewers, more viewers means more offers, and more offers means better price, and not a drawn out situation where you sat on the market for months on end waiting for that one stupid fish to come along who might pay the price you think the house is worth.
Even then, it's got to get through a mortgage survey, but that's a conversation for another time!
For more information on this and anything else relating to the housing market just give us a call on 0116 3409989 or to find out a guide on your property's current value go to http://valuation.thepropertyfox.co.uk/
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