Don’t drop your asking price!

The market is definitely quiet at the moment, it’s true. The buyers seem to have receded with the summer sun, and may not reappear until the daffodils emerge in the spring.

If you’re in a huge hurry to sell, then you may be considering dropping your asking price, probably egged on by your estate agent, looking for a quick sale at your expense.

However, dropping your asking price should never be a knee-jerk reaction to a slow market.  There are many factors to consider. At best, even a large price drop could make absolutely no difference to your viewings whatsoever, and at worst, it could actually damage long-term your likelihood of selling at anything close to the price you were originally hoping for.

So, let’s look at the psychological effects a discounted asking price could have on a potential buyer:

1. Wariness – the initial surprise a buyer may feel which draws his attention to your advert is very quickly replaced by wariness and cynicism that something must be ‘wrong with it’ to have such a low price.

2. It invites analysis – selling on price causes buyers to be more analytical of the offer – the bricks and mortar. Because their decision to buy is rational (based on £s) and not emotional (based on feelings), they will be searching for the downside – that leaky tap will be an issue, the soggy garden a serious problem. Buyers making their decision on emotions are looking at your house with roses-around-the-door-tinted glasses.

3. Low price = low quality – buyers usually want to spend at least their budget, and often end up spending more. Think back when you bought your house – did you stay within your budget? We are conditioned to believe you get what you pay for. After all, if we bought on price, we’d all buy our clothes from Primark and drive around in Skodas. The truth is we like quality; we aspire to it; we deserve it. Show us a property slightly beyond our means and we will want it all the more. A confident, optimistic asking price says ‘buy me – if you can’.

4. Lack of confidence – what buyer wants to offer on a decreasing asking price? Would you buy shares as they were falling?  When will it stop? Will your investment prove foolish? Each price decrease indicates the seller’s lack of confidence in his own asking price. If the seller isn’t confident, why on earth should the buyer be?!

So before you drop your asking price, remember the passionate belief of all of us at HomeTruths –

People do not buy homes on price.

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.

 

What to read next: Dropping your asking price isn’t the answer! 

What to do next:  Sign up to my Selling Secrets http://www.home-truths.co.uk/selling-secrets

 

The post Don’t drop your asking price! appeared first on Home Truths.

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Don’t drop your asking price!

The market is definitely quiet at the moment, it’s true. The buyers seem to have receded with the summer sun, and may not reappear until the daffodils emerge in the spring.

If you’re in a huge hurry to sell, then you may be considering dropping your asking price, probably egged on by your estate agent, looking for a quick sale at your expense.

However, dropping your asking price should never be a knee-jerk reaction to a slow market.  There are many factors to consider. At best, even a large price drop could make absolutely no difference to your viewings whatsoever, and at worst, it could actually damage long-term your likelihood of selling at anything close to the price you were originally hoping for.

So, let’s look at the psychological effects a discounted asking price could have on a potential buyer:

1. Wariness – the initial surprise a buyer may feel which draws his attention to your advert is very quickly replaced by wariness and cynicism that something must be ‘wrong with it’ to have such a low price.

2. It invites analysis – selling on price causes buyers to be more analytical of the offer – the bricks and mortar. Because their decision to buy is rational (based on £s) and not emotional (based on feelings), they will be searching for the downside – that leaky tap will be an issue, the soggy garden a serious problem. Buyers making their decision on emotions are looking at your house with roses-around-the-door-tinted glasses.

3. Low price = low quality – buyers usually want to spend at least their budget, and often end up spending more. Think back when you bought your house – did you stay within your budget? We are conditioned to believe you get what you pay for. After all, if we bought on price, we’d all buy our clothes from Primark and drive around in Skodas. The truth is we like quality; we aspire to it; we deserve it. Show us a property slightly beyond our means and we will want it all the more. A confident, optimistic asking price says ‘buy me – if you can’.

4. Lack of confidence – what buyer wants to offer on a decreasing asking price? Would you buy shares as they were falling?  When will it stop? Will your investment prove foolish? Each price decrease indicates the seller’s lack of confidence in his own asking price. If the seller isn’t confident, why on earth should the buyer be?!

So before you drop your asking price, remember the passionate belief of all of us at HomeTruths –

People do not buy homes on price.

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.

 

What to read next: Dropping your asking price isn’t the answer! 

What to do next:  Sign up to my Selling Secrets http://www.home-truths.co.uk/selling-secrets

 

The post Don’t drop your asking price! appeared first on Home Truths.

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via IFTTT

Don’t drop your asking price!

The market is definitely quiet at the moment, it’s true. The buyers seem to have receded with the summer sun, and may not reappear until the daffodils emerge in the spring.

If you’re in a huge hurry to sell, then you may be considering dropping your asking price, probably egged on by your estate agent, looking for a quick sale at your expense.

However, dropping your asking price should never be a knee-jerk reaction to a slow market.  There are many factors to consider. At best, even a large price drop could make absolutely no difference to your viewings whatsoever, and at worst, it could actually damage long-term your likelihood of selling at anything close to the price you were originally hoping for.

So, let’s look at the psychological effects a discounted asking price could have on a potential buyer:

1. Wariness – the initial surprise a buyer may feel which draws his attention to your advert is very quickly replaced by wariness and cynicism that something must be ‘wrong with it’ to have such a low price.

2. It invites analysis – selling on price causes buyers to be more analytical of the offer – the bricks and mortar. Because their decision to buy is rational (based on £s) and not emotional (based on feelings), they will be searching for the downside – that leaky tap will be an issue, the soggy garden a serious problem. Buyers making their decision on emotions are looking at your house with roses-around-the-door-tinted glasses.

3. Low price = low quality – buyers usually want to spend at least their budget, and often end up spending more. Think back when you bought your house – did you stay within your budget? We are conditioned to believe you get what you pay for. After all, if we bought on price, we’d all buy our clothes from Primark and drive around in Skodas. The truth is we like quality; we aspire to it; we deserve it. Show us a property slightly beyond our means and we will want it all the more. A confident, optimistic asking price says ‘buy me – if you can’.

4. Lack of confidence – what buyer wants to offer on a decreasing asking price? Would you buy shares as they were falling?  When will it stop? Will your investment prove foolish? Each price decrease indicates the seller’s lack of confidence in his own asking price. If the seller isn’t confident, why on earth should the buyer be?!

So before you drop your asking price, remember the passionate belief of all of us at HomeTruths –

People do not buy homes on price.

If you’d like my help to sell your home more effectively, please answer a few short questions here and if I think I can help you, I’ll be in touch.

 

What to read next: Dropping your asking price isn’t the answer! 

What to do next:  Sign up to my Selling Secrets http://www.home-truths.co.uk/selling-secrets

 

The post Don’t drop your asking price! appeared first on Home Truths.

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One-in-three chance of London house price crash, says expert poll https://t.co/KFJvUGbXWY Solicitors & Estate Agents In One Just £899 + vat .. https://t.co/GmjoJxU3bM

One-in-three chance of London house price crash, says expert poll https://t.co/KFJvUGbXWY Solicitors & Estate Agents In One Just £899 + vat .. https://t.co/GmjoJxU3bM (via Twitter http://twitter.com/conveyandmove/status/1034710821711081473)

Stilettos and a $4,000 skirt: Melania Trump’s tree-planting outfit https://t.co/yf7FfoHhwY Solicitors & Estate Agents In One Just £899 + vat .. https://t.co/GmjoJxU3bM

Stilettos and a $4,000 skirt: Melania Trump’s tree-planting outfit https://t.co/yf7FfoHhwY Solicitors & Estate Agents In One Just £899 + vat .. https://t.co/GmjoJxU3bM (via Twitter http://twitter.com/conveyandmove/status/1034710819471282176)

One-in-three chance of London house price crash, says expert poll

International buyers put off by Brexit uncertainty could drive prices down 1.6% next year

House prices in London will fall this year and next, with the possibility of a full-blown crash if Britain leaves the EU without striking a deal, according to a poll of housing market specialists.

Prices in the capital are expected to fall by 1.6% this year and 0.1% next year, a quarterly Reuters poll of about 30 analysts found, as the international buyers traditionally attracted by the London property market are put off by uncertainty surrounding Brexit negotiations.

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Stilettos and a $4,000 skirt: Melania Trump’s tree-planting outfit

The US first lady opted for total glamour when asked to dig a hole in the White House garden. But was her outfit remotely appropriate for the task in hand?

Melania Trump has been gardening again, planting an Eisenhower-era oak sapling in the White House grounds. It means that her gardening wardrobe has come under further scrutiny. Did she wear 4in Christian Louboutin stilettos to aerate the soil? Did she choose a $4,000 floral Valentino skirt for its horticultural motif? The first lady barely has to lift a gold-tipped ceremonial spade for the jokes to begin.

“Actually, that’s not a spade, it’s a shovel,” says the gardening expert Alys Fowler. “I suspect she was given that in recognition of the fact that she was never going to put her foot on it in those shoes.” Aside from the obvious issues, such as the propensity of stilettos to sink into the mud, Fowler is worried that Trump’s footwear is problematic. “If you are going to lean over and try to lift something quite heavy, that’s a real strain on your lower back.”

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