How do you attract immediate buyer interest?
The importance of attracting immediate buyer interest cannot be underestimated.
In today’s extremely price-sensitive housing market, pricing your property right at the outset will massively increase your chances of finding a buyer.
New Rightmove data shows that if a property receives its first buyer enquiry on the first day of marketing rather than after two weeks, it is 60% more likely to find a buyer.
Buyers are still active for the right property, at the right price (the number of buyers enquiring about each home available for sale is 8% up on the more normal pre-pandemic market of 2019, says Rightmove), but sellers need to grab attention with a competitive price from the very first day of marketing.
Rightmove reports that the proportion of homes that are finding a buyer has fallen from eight in every ten at the height of the lockdown boom, to a sales rate of six in every ten, which makes pricing competitively even more important.
The number of sales agreed is 17% lower than this time last year, as those sellers who are finding it difficult to adjust their price expectations to the current housing market activity levels are finding that their properties are being left on the shelf.
Stand out from the crowd.
Tim Bannister, Rightmove’s Director of Property Science, said: “In a market that agents describe as the most price-sensitive ever, buyers are likely to be on the look-out for homes that they feel represent excellent value, and to attract one of these motivated buyers, sellers need to price right first time. If similar nearby properties for sale appear overpriced, serious sellers have an opportunity to stand out from the crowd with a more competitive price and attract immediate buyer interest that our research shows significantly increases the likelihood of finding a buyer.”
Accurately priced properties succeed in securing a buyer in less than half the time that it takes those that require a reduction, says Rightmove.
Work with a trusted local estate agent.
This highlights the huge importance of working with a trusted local estate agent to get the price right first time, rather than testing with a higher price and mistakenly thinking that they can just reduce later without damaging their chances of a sale. We will always advise each of our clients to what we feel is the optimum starting price of any property. Ryan Inskip & Daniel Davie have over 40 years combined property appraising experience in Sandy and surrounding Towns and Villages.
Thinking of moving? We’ll help you price right first time.
If you are thinking of moving, Inskip & Davie will help you get the price right first time, to attract buyers and sell your home.