What price should I put my house on at?

Wobblydeb

I think you might see me on this board a lot over the next few months .... I'm just about to put my house on the market.

I've had 3 agents out, who have suggested marketing at:

1. 155-165
2. 185
3. 195

Crazy isn't it? :rolleyes: Do I get more valuations to see if the first agent was barking mad, or decide on a price myself?

puddy

whats the beginning of your post code. have you looked on any sites to see the sold prices in your area for the last six months. no good looking at 'for sale' prices

DVardysShadow

First Agent might be barking, or he might be honest and the others just trying to massage your ego. Do as jenner suggests to get an idea of who is right.

Wobblydeb

Hmmmmmm okay, nothing sold or even put onto the market in the last 2 years (its a character cottage so not a lot similar comes up for sale)

Other similar cottages sold:

2007 - £200k (larger (maybe an extra bedroom?) poorer location, don't know in what condition)
2007 - £232k (extra bedroom and larger kitchen, poorer location, same condition)
2006 - £187.5k (same size, same location, slightly better condition)
2006 - £156k (same size, slightly poorer location, much worse condition)

The one highlighted in pink is the nearest comparable.

overandout_2

Based on the sold prices, I'll say your 2nd agent seems to be the closer price range.

adg1

List it with the one who has the best coverage in your area, seems to do the most for their clients and has the most proactive approach to marketing (not just board and rightmove but local papers/other aggregator sites/etc).

I would avoid the price range listing but ultimately chose who you believe the most.

You could always instruct the last one at £195k but mention that you are open to offers and to bring people for viewings who are proceedable and see what they come back with.

delmar39

The way to do this is to add the three valuation figures together and divide by number of valuations, so three. I've taken the lower figure from the first one, so:

£155+£185+£195 / 3 = £178k.

You can do what others suggest and see what places have sold for or look on Righmove.co.uk to see what people are marketing similar properties in your area for.

You can choose to market your property at whatever price you like - does £178k seem about right, does it give you enough funds to cover the mortgage / provide equity for new house? Based on my recent experience of selling a house, you'll soon see whether the price is realistic by the number of viewings you get i.e. none = it may be priced too high - if you're not getting people through the door then you want be getting the feedback you need in order to sell. This is something that you can discuss with your Estate Agent as the sale progresses. Take into consideration people may not come up to the asking price and you may need to lower the price in the future to get a sale.

One thing I will say is that Estate Agents will give you the value of your property in the current market. So if they say £195 then this is what they think they can sell it for. This also applies to the £155 valuation, unfortunately! I'd take the average if I were you and look at what you need to get in order to move on.

Hope this helps.

delmar39

P.S. As mentioned above, go with an Estate Agent who will provide a good service. The larger corporate Estate Agents tend to have a massive rolling stock and cannot give your property the attention it deserves (in my experience). One of the smaller agents in your area may be better. Aim for between 1% and 1.3% fee with no tie in.