My ex-rental 2 bedroom house in London is about to go on the market, and it seems that similar nearby houses have actually been selling recently at £365k to £375k.
My estate agent has said that to game the online property portals’ bands listing at “£350k or more” rather than a set figure of £365k, £370k or £375k would be best.
Anyone have any experience of this strategy? I am aiming for £365k-£370k, if that matters.
The 2-bedroom houses that recently sold for £350k or “Offers in excess of £350k” are definitely worse than mine, whereas my house is larger (in terms of floor space) although as an ex-rental is not in as good condition as the ones that sold at £365k, £375k or “Offers in excess of £375k”.
There are also listed, but unsold, 2-bedroom houses at £375k and £385k that likewise are usually in better condition but have smaller floor space, and some of them unlike mine, have mid-house staircases and downstairs bathrooms.
This strategy can work, and they may have a point, greater exposure and it has potential to create a buyer bidding war.
I don’t necessarily believe that it will generate a higher price than the other method, but it may sell a little faster.
IMO Its how well the agent handles the buyer enquiries and making buyer understand expectations. When I choose an agent I do test calls and enquiries before hand to see how well they are dealt with.
If you dont have faith in the agent opinion then maybe a new agent would be better?
Personally I dont see this as adding anything to what a good agent would assess, infact I would expect an experienced agent with local knowledge to have a better level of understanding over a surveyor.
Surveyors tend to undervalue in my experience, agents often over value to win the business.
One point worth mentioning is that the difference between agent valuations was 35K, although the agent who was a ex-surveyor was at the top of that end.