Maintaining a competitive asking price and dealing with offers…..

Here at Jonathan Waters when we are invited to provide a market valuation we investigate many aspects in order to provide an accurate price for your property, this is done by using information within our agency of recent sales of comparable properties, current homes for sale with ourselves and other agents, research on neighbouring properties offered for sale and historic prices paid and consider improvements made - conservatory, heating, double glazing etc.

Once your home is offered for sale we try to ensure that most members of the sales team have visited your quiring about it and will continuously monitor activity achieved, internet ’click through rates’, and feedback from viewings - this will enable us to advise you if the price needs to be adjusted in future marketing. With the housing market affected by the media informing us of mortgage companies lending less and less , banks having troubled times, coupled with all the confusion in the United States housing markets and banks, house prices are having to fall in line with the current lack of sales. We will always provide you with the facts before approaching you for a price reduction, even visiting for a re-valuation if necessary.

In these current market conditions it is expected that buyers will try ‘cheeky’ offers to find out if buyers are willing to negotiate and it is our job to obtain the best and fairest price on your behalf, that’s what you are paying for!!! Below is an event which happened recently and shows that is not always a bad thing to consider a low offer, you may be able to have a lower offer considered on the property that you would like to purchase and it therefore all become relative.

We had a property offered for sale at £169,995 in the South East of Ipswich which then was reduced to £164,995 because there had been a general fall in house prices and everyone was following suit! - the owners then received an offer of £150,000 which on the face of it seemed a bit low and we were a bit concerned about informing the house owners . They did not reject the offer straight away but informed us that they would like some time to think about it, they had seen a newly constructed house that they would like to purchase and instead of refusing the offer they contacted the builders and informed them of the low offer.

Because the new homes site had experienced a slowing down they were more than happy to negotiate which meant that the purchasers got the house for a good price and the owners didn’t actually loose any money as they had got a reduction the other end. This is not only possible with newly built properties, we are happy to try to negotiate all the way along the chain to achieve a sale if possible.

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