Everyone wants a smooth sale, but they might not realize how important the asking price is in making that happen. Figuring out how to price your property is key to getting the value you deserve, without it sitting on the market for too long.
Understanding what makes the property market tick can help you to price your home properly. Manchester's property market is booming at the moment. Homes are selling three times faster than in London and prices rose by more than 7% in a single year.
As a seller, you want to be able to take advantage of how strong the market is and make sure that you maximize your property value — but you still want to price it competitively. The right estate agent should help you find that perfect balance, taking into consideration any special requests you have for your sale and the kind of timeline you’re looking for.
In Manchester's current market, you can definitely add a bit more to your asking price – just don't get carried away. "
Here are a few tips to ensure you set the right value.
First things first: get a valuation
You can get a sense of your property’s value by looking at the sale of similar homes in your area. It’s a great way to get an idea of what to expect — but for a truly accurate valuation, it's best to call in the experts. As well as looking at the local property market, they'll also consider your home's unique features, like the condition, the decoration, and nearby amenities.
Don't go in too high
With a booming market, you might be tempted to stick an extra ten percent on top of the valuation price — not so fast. Most buyers will be looking at a few properties in your area and will have a good idea of what yours is worth.
Yes, you might want to just jump in and see what you can get, but don't underestimate those buyers. Pricing your home too high runs the risk of it sitting on the market while people ignore it in favour of more reasonably priced options. You may also end up in long negotiations, which can be a hassle. Try to stay realistic.
Leave some wiggle room
Keeping your price within a stone's throw of the expert valuation can boost demand for your home, especially if everyone else is pricing theirs too high. But by adding a little extra on top, you leave room for the buyer to feel like they’ve talked you down. Talk to your estate agent about the asking price and the price that you’re willing to take.
Round down for search algorithms
It can help to understand how major property sites work — and to think like a buyer. When buyers search for properties online, they choose their price range — usually in increments of £10,000.
Take advantage of this to make sure you’re seen by as many buyers as possible. For example, if your home has been valued at £255,000, more people will see it if it's listed as ‘offers over £249,000’ — you'll catch anyone searching with a budget of £250,000.
The key takeaway? In Manchester's current market, you can definitely add a bit more to your asking price – just don't get carried away. It all comes down to your needs — how quickly you want to sell or whether you need to get more money for your next property. Your estate agent should be able to talk you through any questions that you might have and set the perfect price for a smooth sale.