selling property
Offering Incentives
Sellers typically adopt one of two selling strategies, the
rock bottom or the drop-down approach
Rock bottom sellers don’t like to hang around, so they
price their home at the rock bottom price they would take.
Drop-down sellers set their asking price several thousand
pounds above the price they would actually take in hopes of
getting lucky, but they are willing to come down in price.
The pricing strategy you use will probably depend on how
much time you have to test out the market. If you want to
use the drop-down approach, you should sit down with your
agent and work out a schedule of how long you’re willing
to wait before lowering your price.
You should plan out a regular schedule of price reductions
until you find a level that attracts buyers.
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