Homeowners Lose Over £4,000 on Average by Overvaluing ...

In my recent analysis of the Bath property market in this week's UK Property Market Stats Show, it revealed a surprising truth:

Overvaluing cost the Bath home sellers big time.

Looking at the biggest 12 estate agents in Bath

The 6 Estate Agents that listed their properties closer to their true market value (an average of 0.07% over the TwentyEA Automated Valuation Model (AVM) model price) achieved an average sale price at exchange of £637,331.

In contrast, the remaining 6 estate agents that started with inflated asking prices (an average of 0.84% over the TwentyEA AVM model price) only managed an average of £633,095.

That’s a difference of £4,236 lost – all because of an unrealistic initial price.

Why does this happen?

Overpricing can deter buyers, reduce interest, and leave properties sitting on the market.

Ultimately, sellers may be forced to reduce their price, resulting in a lower sale price than if they’d priced it correctly from the start.

Also, dont forget homes that sell (SSTC) within 25 days have a 94% chance of getting to exchange, whist those that take over 100 days to achieve a sale (SSTC), only 56% of those will end up exchanging)

🎯 Lesson learned: A realistic valuation is not underselling – it’s the key to getting the best possible result for the home.

Your thoughts on this?