Buyers unwilling to pay overly ambitious asking prices

overly ambitious asking prices

A new report has suggested that home buyers are becoming increasingly unwilling to pay overly ambitious asking prices.

The report comes after Quick Move Now’s own study into homeowners overvaluing their property. Our study found that homeowners overvalue their property by an average 6.8%, and it seems it’s putting potential buyers off.

The report has suggested that overly ambitious asking prices are standing out as poor value in a cooling property market. 75 percent of estate agents questioned said buyers are reluctant to even enquire about property they feel is over-priced.

When houses are overpriced, it makes buyers unwilling to pay

Danny Luke, Quick Move Now’s managing director, commented:

Overly ambitious asking prices are nothing new, but in a thriving property market are a little more easily disguised.

In a market where growth is slowing, over-valued property sticks out like a sore thumb. Incorrectly pricing your property at the outset means you’re likely to miss out on the initial interest you can expect when your property first goes on the market. If the price isn’t rectified quickly, you risk your property staying on the market longer than its competition.  This can lead to potential buyers seeing your property as old, stagnant, undesirable stock.

Managing home owner pricing expectations is one of our biggest challenges as a business. It’s easy for homeowners to see overly ambitious asking prices and think that is what a property is worth. To get a true idea of a property’s value it’s important to look at sold prices rather than asking prices. It’s also important to consider any other external factors affecting the market and seasonal highs and lows. In order to get an accurate valuation we carry out thorough research and get valuations from three independent estate agents.

If you’ve got a property to sell, it’s advisable to follow a similar strategy.  Don’t just select the first or highest valuation. Luckily for homeowners, information about recent sold prices is easily available on property portals such as Rightmove and Zoopla. This data will give you an idea of your property’s value, with independent estate agent valuations able to give a more accurate, property-specific expectation.

Got a property to sell?

If you’ve got a property to sell and would rather avoid the hassle of selling your property on the open market, Quick Move Now could buy your property in as little as 7 days, leaving you free to progress with your onward move, chain-free and hassle-free.
For more information about how Quick Move Now can help, call the friendly team today on: 0800 068 3366 or fill in the free, no-obligation estimate form below.

Get an instant free estimate

We have £6,354,923 instantly available right now to buy your house

  • Property Details
  • Contact Details
  • Your Quote
  • 1 Property Details
  • 2 Contact Details
  • 3 Your Quote

No risk free quote

  • Guaranteed sale
  • Become chain free
  • No fees
Enter address manually
Back to property details

Your free, no obligation estimate request has been successfully submitted.

One of our property experts will be in touch shortly to discuss your requirements in more detail.

Call us on

0800 068 3366

or we will call you

About Quick Move Now

Quick Move Now can buy your house today! If you need to sell your house fast, We have the immediate funds available to help123!

Contact Us

Quick Move Now Ltd
15 Interface Business Park,
Bincknoll Lane, Royal Wootton Bassett,
Wiltshire, SN4 8SY

0800 068 3366

Get your cash offer now

10 Days
16 Hours
55 Minutes