Pricing house - what to do

Ksw3

In my area it would be put on at offers over £280k, many families would see it and bid and if they didn't there would be an investor from London snapping it up along with everything else in the region. 

I think a lot of it would depend on your local area and whether demand is still running quite high. I think also it might depend on the house. If it was a 2 bed for example, demand is still high here but less likely to get a war because everyone is really hoping to stretch to the 3 beds.

eidand

have you done your own research? Don't go into this blind, you need to understand the market in your area first. What else is for sale, how long have they been up for sale, etc. You should be able to have a ball park idea of what your house is worth looking at sold prices and current market prices and situation. The EAs should be able to help, show you what else they sold or are selling that is remotely close to yours. That will give you a rough idea.

Once you go on the market you'll know very quickly if you ask for too much or not enough based on the interest and offers or lack of.

[Deleted User]

A better question might be: how much misery do you want to contribute?

I'd suggest figuring out how much money you need and asking for that much.

twoLou

There’s no harm asking each agent how they came up with the selling price. A good agent should be able to tell you. 

You may live in an area like myself where there have barely been any properties on the market for a couple of years or the ones that have are nothing like the size of yours so no amount of your own research will help you that much.

In the end I just went with the agent I felt comfortable dealing with and was the most professional.

The very best of luck with your move.

Aqua1985

So after a lot of market research on my part and phone conversations with people in the industry I know, I went with the agent who best articulated the price relevant to what’s been sold recently by themselves and others. It wasn’t the top valuation of 280k but asked for the agent to list at £260k rather than 250 they suggested as I feel it’s worth that  / I would be happy with £260 plus.
I asked agent to lower the duration of agreement from 16 to 10 weeks as he seemed very confident in selling and I was happy with the fee of 0.6% plus vat.
Open house in a couple of weeks so let’s see. 

Skiddaw1

Good luck OP!

ooSTEVEoo

Wow, 0.6% is good. Is this a local firm or one of the big national names?

Aqua1985

ooSTEVEoo said:

Wow, 0.6% is good. Is this a local firm or one of the big national names?

Local one I’m in the SW near Andover so agents rates are firstly cheap. Most expensive one I was quoted was 1%

Slinky

babyblade41 said:

look at comparable properties & what they have actually sold for not what they are selling .

This should give you an indication of a ball park figure 

This is no use round here. There's 2 houses completed in our street, one in September, the other the week before Christmas. Neither is showing up on Land Registry data yet. There was a private sale last June which took about 8 months to appear.

user1977

Slinky said:

babyblade41 said:

look at comparable properties & what they have actually sold for not what they are selling .

This should give you an indication of a ball park figure 

There's 2 houses completed in our street, one in September, the other the week before Christmas. Neither is showing up on Land Registry data yet. There was a private sale last June which took about 8 months to appear.

Maybe not in the free data, as there's a lag with that, but if the info for a particular property is worth three quid to you, you can download it as soon as the purchase is registered.