New Rightmove research shows that 62% of potential buyers would not view houses they feel are over-priced.
So that says to me that you’ve got to make sure your house doesn’t look over-priced, in two areas:
1: In your online listing photographs
Do your photos really show off the space you’ve got to its best advantage? Have you even got photos on the listing of all the rooms? (That really bugs me as a house-buyer you know, not being able to see ALL the rooms I would be buying. Do you think that 4th bedroom doesn’t matter cos it’s the smallest? It does matter! A lot! And if you’ve got a garage, I want to see that too! Don’t assume that just because there’s some space you don’t value very much that potential buyers will be thinking the same.)
And how do the rooms actually look in those photos? Are they selling a lifestyle that would be expected for the money you’re asking? Generally-speaking, the more you’re asking the better your house should look. If you’re asking £300k for a house people are going to expect that you’ve got some semblance of interior design and style going on, whereas if you’re asking £80k that would be a really nice surprise and catapult your house to the top of the buyer shortlist.
Basic rule – make the ABSOLUTE BEST of what you’ve got, so you stand the best chance of people believing that your house is worth what you’re asking for it.
2: In the competition details
Selling a house these days is a competition, and to sell for the price you want you’ve got to win, simple as that. To avoid potential buyers thinking that your house is over-priced, you NEED to make sure that your price is in the right ballpark. It’s easy to check this out – simply do a search online for what you’ve got. If you’re trying to sell a 3-bed semi, then search for a 3-bed semi within a couple of miles of yours, and with the same sort of area. Score your property against what you find – what have you got that they don’t? Do the other properties look better than yours? (Be honest here; kidding yourself that people won’t mind your dodgy carpets is only going to mean that you’ve got to live with those dodgy carpets for much longer…)
The competition goes like this: if you’re selling the best-looking 3-bed house in a particular area for a certain price, then you win. If you don’t have the best house in that area for that price, then you’ve got two choices: drop the price until you do win, or make it look better. You know which one I’d recommend!