Agents' flattery, owners' vanity - a dangerous mix.
Looking at Brighton and Hove property For Sale online, there are hundreds of properties sitting there, unsold. The ones that are selling are the accurately priced ones.
Flattery and playing to sellers' vanity seems to have a big part in property pricing, but does it get people moved or just depressed? I'd suggest the latter.
Of course, estate agents often conspire to inflate prices. The problem comes when buyers look around the property and 'cannot compute'.
If you are on the market for a 3 months plus, with no real action, you know deep down the asking price is the barrier. Everything sells at the right price.
Estate agents and clients need to have intelligent and focused conversations to match asking price to market conditions.
The main arbiter of price is comparable property sold in the vicinity in the last few months; buyers look at this; sellers look at this; agents look at this. Getting real about it is the issue. When everyone does, the property sells and people move. Bingo!
If you want an accurate, honest valuation of your Brighton or Hove property, get in touch Request a valuation or call 01273 677365
Paul Bonett F.N.A.E.A. M.A.R.L.A.