At Cooper Adams we take a long time preparing a property for market.
Initially setting the asking price is very important. We study the market – we look at buyers' budgets, similarly priced properties, how long they have been on the market for, the condition they are in, the pros and cons of them.
Your property is always in competition not in isolation.
We look at the maximum price you could get if your home is perfect and if not look at costs involved to make it perfect. We look at past sales and how the market is moving. There are many many variables we factor in before we arrive at a price. Some of us at Cooper Adams have over 25 years' experience, we give honest advice. (Some bad agents over-value just to get the business then start reducing the price. These seller's will always end up with a price far lower than pricing it right [for maximum impact] at the very start)
The price has to also fit with portal pricing to gain maximum interest (see how portal pricing works here).
We always source comparable evidence to back up our reasoning on a price. To us it's a science not a holding our finger in the air then adding a bit more.
When we form our opinion we discuss all this with our client as they always have the final say.
After the price is set we get ready for launch.
The launch is so important to get spot on – “You never get a second chance to make a first impression.”
The best prices achieved normally happen within the first two weeks of marketing. If the marketing isn't right you may miss that boat. There is no point going to market without the right 'headline grabbing description' in place, without floor-plans and outstanding photos not finished.
If a buyer skips your property they will ignore it every day after as well.
With everything in place we can catch the attention of double the amount of average buyers. Some buyers have just started looking and may need to view ten properties until they know the best one. Other buyers have already viewed nine for instance and yours pops up.
It's not how long your property has been on the market, it's how long the buyers have been IN the market.
If it's perfect for them and as it's just come onto the market they will happily pay the full price. If there is more than one interested buyer, one of them may pay a bit more and you get an offer over the full price.
We don't rely just on portals to get buyers we actively build our buyer database to communicate properly with them. We look for buyers in many new ways (see here)
All of this means if we get a buyer soon after you start marketing we are doing our job well.