I listed my property too high when i first listed it. By about £200 as i did my pricing research during summer not realising that prices would decrease.
Is it better to show it as having a reduction or to re-list? My concern is people may wonder why its reduced.
Personally, for the cost of a new listing I would prefer to do this.
However, you may want to check with openrent if it would actually show as a new listing on Rightmove as a property must be delisted for a period of time before it qualifies as a new listing. I think this is 14 days for letting properties. (14 weeks if sales).
Reduced properties never look good.
That was my thought too Mark but Openrent told me that reduced properties actually do better. To me i’d just think there’s something wrong with it or it wouldnt be reduced.
Disagree. Never had a prospective tenant query a price reduction. I would say that the market had moved and you have responded to that. Prices can go up as well as down.
I’ve posted a higher price & reduced, and am honest with applicants. “I was testing the market, and trying my luck with the higher rent”. There is no problem with that.
when looking at properties, many applicants will save your property in their list of watched properties and IIRC will be alerted if a price drops. That might prompt them to get in touch.
In my experience if you delete an openrent advert and submit a new / duplicate listing Rightmove and zoopla will still show it as reduced . The other comment is right , there needs to be a certain lapsed time period between duplicate listings before Rightmove would class it as a new listing and not show it as reduced . I think on the openrent website it would show as a new listing though . I think most tenants search on Rightmove ? We had the same concern so deleted openrent listing and submitted a duplicate listing the same day and paid another £60 , thinking it would show as a new listing on Rightmove but it didn’t, however we received a considerable amount of enquiries that we weren’t having under the original listing that was 2 weeks old . Hope that helps