Help with pricing strategy and value of high st over online agent?

Lilym_2

We have decided to sell our flat in London which we were letting out since moving away a few years ago. I have had several agents value the flat with most settling on a figure of £325k as expected market value. However one has indicated that they would seek to market more 'aggressively' at £350k and hope to get a figure nearer that.

On the one hand every penny really counts for us as we are using the proceeds to finance our own home purchase. On the other hand I'd like a quick sale. The £350k agent has based this on the fact there is so little on the market in this price point and area and he is selling a smaller studio flat around the corner (though a more sought after victorian building) which has offers already of asking price £325k. He reckons we are in a good position to appeal to those who will miss out on that (doing 6 viewings on that on saturday).

I have researched myself obviously and its certainly hard to peg a value as there is very little comparable on the market or recently sold. I had thought a range between £325-340k. It's a very desirable up and coming area. So, what should my pricing strategy be? If i market at £350k and then have to drop it after a fortnight (as the agent suggested if we don't get interest) doesn't this a) look like something is wrong with the flat and b) mark me out as a chancer?

And.... I was all set to go with an online agent I have seen highly recommended on these boards, but the more optimistic strategy of the high st agent, with his talk of 'his buyers and investors' has lured me a little. Am i being foolish?

Its a standard flat in a great location.

Sorry, so many questions but I have never sold anything before and am feeling nervous. Any views much appreciated.

Errata

How do you plan to bang on the desk of an online agency when it needs a bolloxing?

Daerve

Errata wrote: »

How do you plan to bang on the desk of an online agency when it needs a bolloxing?

Use Hatched, they are online but have a network of local offices.

ellie27

Errata wrote: »

How do you plan to bang on the desk of an online agency when it needs a bolloxing?

We used a big Scottish online estate agent who have their office in the centre of Glasgow, so a bolloxing would have been doable.

Jhoney_2

Errata wrote: »

How do you plan to bang on the desk of an online agency when it needs a bolloxing?

How do you bang on the desk of any company when it needs it? In most london EAs, they are out doing viewings most of the time so you will be banging to an audience of one anyway.

Lilym_2

Could anyone help me think through the pricing? Or am I overthinking it?

ellie27

Lilym wrote: »

Could anyone help me think through the pricing? Or am I overthinking it?

You want us to set the price of your house, we dont know anything about it.

Or do you want us to tell you whether to use high st or online agents?

Bart1

I think these days almost everyone looking to buy checks RM, so don't think it matters which EA you use

MrsFingersCrossed

We thought long and hard about going with online estate agent and decided against it for one main reason.


A local estate agent can say to people viewing other houses locally, well that one wasn't for you but you really should go and have a look at this one. That is how we bought our house years ago - we fell in love with next door. It went to someone else and the agent steered us to this one, which was hideous from the outside (lovely now...) and yet we had totally dismissed it. But when we saw it, we saw its potential - much bigger garden than the one next door, already extended so much bigger, all in all a much better buy, and we had dismissed it because it looked ugly from the front. A few changes to porch and windows etc, and it looks delightful. And we'd have had to extend next door so it would have cost us more.


An online agent isn't in a position to steer to your house buyers who are looking at other houses locally. I think that's their biggest downfall.

Surrey_EA

Bart1 wrote: »

I think these days almost everyone looking to buy checks RM, so don't think it matters which EA you use

If you can identify a decent EA, which can't be too hard there are an awful lot of poor ones so the good ones stand out, they will do a lot more than simply list the house on Rightmove and put their feet up for the rest of the day.

I believe the difference between a good EA and a bad one can be worth thousands of pounds to the vendor.

Bart1

Surrey_EA wrote: »

If you can identify a decent EA, which can't be too hard there are an awful lot of poor ones so the good ones stand out, they will do a lot more than simply list the house on Rightmove and put their feet up for the rest of the day.

I believe the difference between a good EA and a bad one can be worth thousands of pounds to the vendor.

As the saying goes...... You would, wouldn't you