PRICE IT RIGHT. CHOOSE YOUR AGENT CAREFULLY

There’s been plenty of discussion following the Bank of England’s decision in September to hold the base rate at 3.75%, but one comment from the property industry particularly resonated with us:

The market can operate at today’s interest rates. The bigger question is whether sellers’ expectations have adjusted to them.

From where we’re sitting, that feels very accurate. There are buyers out there and properties are selling, but this is a price-sensitive market and buyers are doing their homework. That makes getting the price right from the outset more important than ever.

It can be very tempting when choosing an estate agent to instruct the one suggesting the highest asking price. After all, who wouldn’t want to believe their home is worth more? But an ambitious valuation only works if there is evidence that buyers will support it. Overpricing doesn’t necessarily leave you with extra negotiating room. More often, it can mean missing that crucial first wave of interest when your property is fresh to the market, followed by weeks of little activity and eventually a price reduction. And buyers notice reductions.

A good agent’s job isn’t simply to tell you the figure you want to hear. It is to understand your local market, look carefully at comparable sales and current competition, understand where buyer demand is coming from and recommend a pricing strategy that gives your property the best chance of attracting serious buyers.

Equally, choosing the right agent shouldn’t simply come down to who charges the lowest fee or quotes the highest price. Look at how they present homes. Look at the quality of their photography and marketing. Ask how they will position your property against its competition. Find out who will conduct your viewings, how feedback will be handled, how buyers will be qualified and importantly, how they will manage the sale once an offer has been agreed.

Because securing an offer is only part of the job.

In a more considered market, accurate advice, strong presentation, proactive selling and experienced negotiation matter enormously. Our view is simple: price confidently, but price realistically. Launch well. Create competition where you can. And choose an agent who is prepared to give you considered, evidence-based advice rather than simply the most flattering valuation.

The market hasn’t stopped. Buyers haven’t disappeared but getting the strategy right from day one really matters.