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3rd March 2025
The Price is Right - But Is Your Estate Agent?
If there is one single rule that applies to any business it is that the amount someone will pay for something is simply what they think it is worth.
If you've ever tried to sell an item on Ebay that you've read is worth a particular sum, you might find yourself disappointed when no one will buy at that price. The same is true when it comes to selling your home.
That's why getting the price right when your property first goes onto the market is the key to a successful sale.
Stale properties
It stands to reason that when your home first goes live 'on the market' it's the best chance to achieve a quick sale. When they find the home they want potential buyers know that they need to move quickly to get an offer accepted.
That's a great position for a seller to be in, but it will only happen if the market valuation is attractive to the pool of buyers at that particular time.
If you overprice you risk missing out on this 'new on the market' advantage. That leads to your property becoming what we call 'stale', because many of the buyers who should be interested in it have already rejected it as an option.
Going down
When something doesn't sell at a given price it's often reduced in the hope that buyers will find it more appealing.
That's okay if you're a shop owner who still has a significant profit margin baked in, but if you are a home owner and have made plans to buy somewhere else based on your estate agent's valuation, you might then find yourself in a tricky situation.
According to property analytics firm TwentyEA, almost one million homes for sale across the country had their prices reduced during 2024.
For us this doesn't point towards buyers being overly picky because there will always be people who want to buy a new home. What it does mean is that many estate agents are simply giving sellers the wrong advice.
The right price
When you decide to sell your home you should get a few opinions from different estate agents. As well as giving you the chance to 'size them up' and see if you would trust them to sell your home, it will also usually lead to a range of different figures being put forward as the 'asking price'.
Here's an unpleasant truth - some agents will inflate that figure just because they need your business. Why do they need to do this? Because they don't sell enough homes to be successful!
A trustworthy agent who has expert knowledge of your area will give you an honest figure, even if it's not one you particularly wanted to hear.
Many factors come into play, which is why we give you a full'market appraisal' rather than a simple off the cuff 'valuation'.
Facts and figures
In 2024 we achieved 98.4% of our sales final asking prices.
We sold properties worth £34,000 million, an increase of 36% on the previous
year. Those figures tell one something - we know what we're doing and we get
the price right!
Maslen Estate Agents has again been recognised as one of the top 500 UK estate agencies by The Best Estate Agent Guide for 2025 and we're also proud to have received over 400 Google reviews with an impressive average score of 4.9.
It all shows that customer care means everything to us. As a modern estate agency covering all of Brighton and Hove from our central office located on Lewes Road, we are the best performing agent in all BN2 postcodes and we extend that approach across the entire city.
If you'd like to find out why so many people trust us to sell their home in Brighton and Hove call 01273 677 001, [email protected] or pop in and see us face to face at our Lewes Road office.