1 December 12, 2018

Best time for a price reduction

You may think reducing the price of your home over the window period won’t make any difference at all….wrong. During the winter months there may be less buyers around but these tend to be more serious and motivated. Even if the weeks before Christmas people are pre occupied, straight after Christmas is a different matter. Boxing day is the busiest day on the web for searching for properties, guess it makes sense really. Christmas day has gone, and it’s the time when people start thinking about moving.

But….. you need to make sure your price reduction is enough to catch the attention of buyers who may not have seen it before. Dropping the price by £5k to £10k won’t really make any impression. Giving a good reduction and then being less negotiable with offers is the best way forward. Try and bring the price under a certain level ie under £350k as certain websites allow you to put in a maximum amount in the search tools, you want to catch these new buyers. For example you are on the market at £425k then instead of dropping to £400k drop to £399950. Just that small amount will make a real difference.

Do this price reduction a few weeks before Christmas that way you will capture the attention of people that may be visiting family during the festive period. Be prepared to allow viewings during the holidays it can often be the only time potential buyers have time off work before the summer.

Remember a property is only worth what someone is willing to pay for it, so if you’ve been sitting on the market for a while with no joy, ask the agent if there was any feedback on price from the viewers, this should give you a good indication of buyers opinions.

If you think Fine & County can help sell your home in 2019 call 01834 862138.

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