Over Pricing Does Not Work

The practice of trying to flattering a potential vendor in Peterborough with a far too ambitious price is unfortunately all too common. Some agency valuers are targeted on the amount of new properties they put on the market and are paid bonuses based on these targets. The easiest way for an estate agency valuers in Peterborough to win a seller’s business is simply to suggest a flatteringly high figure, but many people in Peterborough who fall into this trap live to regret it.

An attitude of “we can always try a bit more and then reduce the price” is a foolish game to play and any agent in Peterborough that utters those words should be quickly shown the door! The message here is simple, get the price right from day one if you wish to achieve a sale in a reasonable time and at the best price. The majority of interest in a property is when it first comes on the market. Anyone in the market looking for your type of property will either get an email alert or phone call from the agent in Peterborough or will be looking at the portals on a daily basis looking for new properties coming onto the market. If your property is overpriced at this point you will not get enough interest to achieve a sale and then you are relying on new people coming into the market thereafter.

Unfortunately reducing the price at a later date often doesn’t have the desired effect as your property is now a little stale on the market and has less kerb appeal. We often find in this situation the vendor has to reduce the property more than what the correct asking price should have been.

So when choosing an Estate Agent in Peterborough to represent you, consider these factors:

  1. An agent that demonstrates good knowledge of the market and has comparable evidence to determine the correct asking price of your property based on the current market.
  2. Who actually has a marketing plan for your property and isn’t just going to put it on the market and hope it sells.
  3. Choose an agent you like and one you feel will work hard for you.
  4. One who has integrity to offer straight talking advice on how you need to present your property in order to have the best chance of selling it.

Always beware of the agent who suggests the highest valuation of your property – his agenda may not always have your best interests at heart!