6 Tips to Ensure that You Get the Full Asking Price for Your Home
Of course, it goes without saying that you need to set the right asking price for your home to get the full asking price. If you set the asking price too high or if you value your home on the higher side, the chances of getting the full asking price are quite low. Alternatively, if you set the price too low, then potential buyers might feel that there is something wrong with your home; you will either lose out on offers or you might receive offers that are lower than the asking price. But, setting the right asking price doesn’t always mean you will get the full asking price. So, here are 6 tips to ensure that you get the full asking price for your home.
1. Do your research
To set the right asking price you need to do your research. Visit various property portals online and try to find properties that are similar to yours, in the same area or similar areas. Once you have seen the properties that are available online and how much those properties have been listed for, you will get a fair idea regarding the asking price for your property. You can always opt to book your free property valuation online too. By doing your due research, you will have an idea as to how much you can list the property for online and how low you should be willing to go during negotiations.
2. Get the best estate agent
Hire an estate agent who is experienced in selling properties that are similar to yours. Also, ask the estate agent about their success rate when it comes to selling. An estate agent who claims to have a 100 per cent success rate is probably selling properties for less than the asking price, so you want to hire an estate agent who has a success rate that is close to 100 per cent. It is important to trust your estate agent and allow them to do their job; after all, these professionals negotiate prices and close deals for a living.
3. Hire a surveyor
It is always a good idea to hire a professional to survey your property to find out the approximate valuation of your property. Even if you have done your research and got a valuation from your estate agent, the most realistic and market-ready valuation is the one that your surveyor will give you. While some sellers feel that they do not want to spend money on hiring a surveyor, isn’t it better to know the value of your home instead of listing it thousands of pounds over the market price and receiving no offers in return? If you are putting in the time, money and effort to put your property on the market, it is always better to get a quote from a professional.
4. Showcase your property in the best light
You want a potential buyer to fall in love with your property as soon as they walk in. Clean the interiors, spruce up the exteriors and make sure to stage the property in a way that the best features stand out. Make your property look and feel warm, homely and cosy; after all, who wouldn’t want to walk into a house and imagine it as their home? Also, make sure that the property description you post online is accurate and the photographs showcase your property as it looks in reality – that way you will be able to attract genuine buyers.
5. Stand out from the crowd
The best way to receive the full asking price is if your property stands out from the crowd. If there is nothing similar to your property in the market, then a potential buyer will certainly be willing to match the asking price. However, if there are hundreds of similar properties in the market then a potential buyer is definitely going to want to negotiate. To receive the full asking price, you’re going to need to convince the buyer that they will never find a property as good as yours.
6. Prepare for negotiations
According to most estate agents, sellers will list their property for 5 per cent higher than the asking price. So, if a seller is wishing to sell his or her property for £500,000, then the estate agent will recommend setting the asking price at £525,000. By doing so, you will end up matching your original asking price. This leaves enough room for negotiation thus ensuring that the buyer and seller are both happy.