Sell your home within this time window or risk knocking £1000s off your asking price
All you need is a good estate agent
Wondering what the secret to how to get close to asking price for your house is? Well, it could all lie in how long it takes to sell your home.
Related: How the General Election result will affect house prices, according to experts
The HomeOwners Alliance has revealed that a sure way to achieve close to asking price is to sell your home within a 14 day time window.
Data from the HomeOwners Alliance estateagent4me, an estate agent comparison tool, revealed that agents with an average selling time of 14 days achieved 99.4 per cent of their stated price. While estate agents with an average selling time of more than 14 days were found to achieve only 97.5 per cent of the original asking price.
The data revealed that the final price paid for a property decreased the longer it was on the market. After four weeks on the market sellers usually achieved 98 per cent of the asking price. This dropped to 91 per cent after four weeks on the market.
That might not sound like a significant dip in price, but with the average UK home costing £235,000, a few percentage points equals thousands of pounds. If you house takes a month to sell could knock £5,194 off the asking price.
But how do you make sure your home has the best chance of selling within 14 days? Well, a good estate agent is key.
Commenting on the data Paula Higgins, chief executive of the HomeOwners Alliance, says that you need to choose an estate agent wisely.
'Draw up a shortlist based on their track record, not their sales pitch,' explains Paula. 'Estateagent4me lets you rank local estate agents by the time it takes to sell a property like yours. How close they get to achieving asking price and the fees they charge.'
'Don't be enticed by agents over-valuing your property just to get your business,' she adds.
If you're still struggling to sell your property after a month or two don't despair.
Related: Phil Spencer reveals his top tip to boost the value of your home by £5000
'If you're selling a home which has been languishing on the market speak to your agent and review the asking price,' advises Paula. 'You may also want to switch estate agent to one that has a better success rate in your local market.'
Get the Ideal Home Newsletter
Sign up to our newsletter for style and decor inspiration, house makeovers, project advice and more.
Rebecca Knight has been the Deputy Editor on the Ideal Home Website since 2022. She graduated with a Masters degree in magazine journalism from City, University of London in 2018, before starting her journalism career as a staff writer on women's weekly magazines. She fell into the world of homes and interiors after joining the Ideal Home website team in 2019 as a Digital Writer. In 2020 she moved into position of Homes News Editor working across Homes & Gardens, LivingEtc, Real Homes, Gardeningetc and Ideal Home covering everything from the latest viral cleaning hack to the next big interior trend.
-
Olympic champion Sally Gunnell surprised us with her stunning garden - we're adding her firepit to our wishlist ASAP
Her solo stove fire pit and patio are outdoor living goals
By Rebecca Knight
-
Cosori Dual Drawer Air Fryer review: Cosori makes great single zone air fryers and the brand has finally launched its dual zone model
Cosori’s debut dual zone air fryer is a great first attempt but could do with one little tweak...
By Helen McCue
-
I tried the viral tea towel slug control hack – here's why I won't be doing it again
This popular hack left me sorely disappointed
By Holly Reaney