Everyone thinks their home is worth a bit more, don’t they?
The kitchen you refitted. The garden you landscaped. The “potential” every owner insists buyers will see.
But here’s the hard truth.
Buyers dont pay for your memories.
They pay for their reality.
When a property is overpriced, you don’t just waste time .. you lose momentum.
Your best buyers see it first, compare it, and move on.
By the time you reduce, those buyers have already bought something else.
In fact, homes launched at the right price from day one sell faster and achieve closer to asking price than those that start too high and chase the market down later.
Overpricing doesn’t protect your equity, it erodes it.
So before you list, ask your agent to show you not just what’s on the market, but what’s actually sold.
That’s where the truth lives.
Christopher
PS here are hard stats to back this up
Stat 1 - Denton House Research & TwentyEa found after analysing over 2 million house sales, that properties agree a sale within 25 days have a 94% chance of that sale completing (i.e. you moving). After 100 days, even if the home does sell (which is slim), the chance of your sale getting to completion (and you moving home) drops to 56%.
Stat 2 - only 53% of homes that come onto the market end up selling and moving
Stat 3 - 42% of the homes that do sell, sell within the first 28 days, 71% of sales take place within 63 days, and by 100 days, 78% of sales have been agreed.
Stat 4 Starting with a realistic price is further backed up with data from Hamptons that shows of the millions of homes that have sold since 2001, aside from the Covid year, British homes have typically sold within about 0.9% to 1.3% of their ‘final’ asking price (final as in the headline asking price before it went sale agreed … not the original asking price if it was reduced in price after it came on the market).
This again shows how vital it is to price
realistically from the start.
The kitchen you refitted. The garden you landscaped. The “potential” every owner insists buyers will see.
But here’s the hard truth.
Buyers dont pay for your memories.
They pay for their reality.
When a property is overpriced, you don’t just waste time .. you lose momentum.
Your best buyers see it first, compare it, and move on.
By the time you reduce, those buyers have already bought something else.
In fact, homes launched at the right price from day one sell faster and achieve closer to asking price than those that start too high and chase the market down later.
Overpricing doesn’t protect your equity, it erodes it.
So before you list, ask your agent to show you not just what’s on the market, but what’s actually sold.
That’s where the truth lives.
Christopher
PS here are hard stats to back this up
Stat 1 - Denton House Research & TwentyEa found after analysing over 2 million house sales, that properties agree a sale within 25 days have a 94% chance of that sale completing (i.e. you moving). After 100 days, even if the home does sell (which is slim), the chance of your sale getting to completion (and you moving home) drops to 56%.
Stat 2 - only 53% of homes that come onto the market end up selling and moving
Stat 3 - 42% of the homes that do sell, sell within the first 28 days, 71% of sales take place within 63 days, and by 100 days, 78% of sales have been agreed.
Stat 4 Starting with a realistic price is further backed up with data from Hamptons that shows of the millions of homes that have sold since 2001, aside from the Covid year, British homes have typically sold within about 0.9% to 1.3% of their ‘final’ asking price (final as in the headline asking price before it went sale agreed … not the original asking price if it was reduced in price after it came on the market).
This again shows how vital it is to price
realistically from the start.
