Quoting Clare Coode of Stacks Property Finders
Go low or high? Get the value of your property right and you can still sell quickly. Get it wrong and you could end up in a state of property purgatory, unsure when you will move. Some sellers go a bit higher to chance it, but sometimes the opposite can work. “One of the best agents in Cornwall sometimes aims to value a house just below the market value to spark a bidding war, thus achieving a higher end price than it would have otherwise achieved — a risky strategy that only works when the agent really knows their market,” says Coode, who adds: “In the absence of more than one bidder, the value of a house is the compromise between the lowest sum of money the seller is prepared to accept and the highest sum the buyer is prepared to pay.”
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