One of the most common assumptions sellers make is that listing a property slightly above its true market value gives them room to negotiate.
It may sound logical to start high, attract offers, and settle somewhere in the middle, but in reality, the opposite is often true.
Today’s buyers are better informed than ever, with access to online property portals, sold price data and local market information at the click of a button. This means they can quickly recognise when a home is fairly priced and easily spot when it isn’t. Entering the market with the right price creates urgency and attracts more interest.
Recent sales agreed by Follwells have shown exactly why accurate pricing remains one of the most effective tools available to sellers.
Creating Competition at the Right Price
A recent property on Alderney Road came to the market at £500,000. This was a price point where buyers can be more selective, and transactions take longer to secure.
Rather than testing the market with an inflated asking price, the property was launched at a carefully considered figure based on the current demand and local market conditions.
Within a week of launching to the market, two buyers were competing for the property, with a sale agreed within 1% of the asking price. This wasn’t achieved by pricing low, it was achieved by pricing correctly.
By giving buyers confidence that the property represented fair value, interest was generated quickly and competition followed naturally.
When Accurate Pricing Helps You Move Faster
For many homeowners, achieving a sale isn’t simply about maximising value. Timing can be just as important as achieving the right price, and the two often go hand in hand. This was the case with a recent sale on Myott Avenue.
The owners had identified a bungalow they wanted to purchase before it officially came to market. In order to secure their move, they needed confidence that their own property would sell quickly.
Following an accurate market appraisal, the property was launched to market at £425,000. Within a week, a buyer had agreed to pay the full asking price. As the property was accurately priced from day one, the sellers were then able to move forward and secure the bungalow they wanted before it reached the wider market.
Read more about how Follwells’ accurate valuation approach delivered another quick sale at the full asking price and kept the sellers one step ahead in their onward move: https://follwells.co.uk/accurate-property-pricing-newcastle-under-lyme-case-study/
What Do These Sales Tell Us About Today’s Market?
These two recent sales highlight an important point about the current property market. While market conditions have changed over the past few years, motivated buyers are still searching for the right homes and prepared to move quickly when they see value.
Both properties attracted strong interest within a week of launch, despite being in different price brackets and serving different buyer needs. This demonstrates that confidence remains in the market, particularly when properties are presented well and priced in line with current conditions.
You can browse our current properties for sale to see the types of homes attracting buyer interest across the area.
The Importance of Local Market Knowledge
Every property is unique, meaning there is no one-size-fits-all approach to property pricing.
What remains consistent is the importance of understanding current buyer behaviour, local demand and market conditions before a property is launched.
When pricing is backed by experience and evidence rather than optimism, sellers are often rewarded with stronger interest, faster large am sales and better outcomes.
If you’re considering a move and would like an accurate, up-to-date assessment of your property’s value, speak to the team at Follwells for professional advice tailored to your home and the current market. Call on 01782 615530 or contact email@follwells.co.uk to arrange a valuation.
