One of the most important tasks an agent has is ensuring that they achieve the best possible price for their client. A property can be difficult and expensive to acquire, a lot of energy and investment goes into maintaining the asset and we understand that it’s important for clients to realise as much equity as possible when it comes to selling. However, a good agent must also balance this with being realistic about the price that can actually be achieved and almost more importantly, set an asking price that will induce and elicit potential buyers’ interest.
In a market such as the one we are currently working in, the correct asking price is all important. Prospective buyers have never been armed with more information and have never been less keen to engage with the advice of agents before making enquiries. If your property looks too expensive, its highly likely you will get little to no enquiries and your property will simply sit on the market and stagnate. This can then cause a lack of momentum due to not making the most of the properties first days on the market, which leads to reductions in price (sometimes more than one) and in the end a reduced selling price.
Earlier this year I featured in an article from the Evening Standard’s Homes and Property section that was discussing London’s best performing areas. Second in that list was Surrey Quays, one of the most talked about regeneration areas in London and home to our flagship office. We are still seeing a great demand for good quality property in this area from both investors and owner occupiers. Asking prices must still be realistic, but as long as they are, we are finding buyers quickly. Please see the link to the article below
By Jaimie Beers – Managing Director, Madley Property