We have all done it: You are walking around the supermarket, and you spot the reduced section.
Suddenly, you are not necessarily looking for what you originally came in for. You are looking for a bargain.
The Rightmove “Reduced Aisle”
Your home is probably your biggest financial asset. So why would you want it sitting in the property equivalent of the supermarket reduced aisle?
When a property first appears on the property portals, it has something incredibly valuable:
It’s new. This is your property’s first impression, and we all know you only get one chance to make a great first impression.
Buyers will see it. People searching the area notice it. It appears fresh to the market, and a natural sense of urgency follows.
That initial launch period is your opportunity to create competition. Get the asking price right, and several buyers could potentially be interested at the same time. This is how we create competition for your home.
Buyers Start Looking for the Deal
Once buyers have seen a property reduced, some stop asking:
“How much do I need to offer to secure this home?”
Instead, they start wondering:
“How much further will they come down?”
That is a completely different negotiating position for the seller. It’s the same psychology as the supermarket reduced aisle.
People browsing that section aren’t normally expecting to pay the original price. They’re looking for value. Buyers can behave in the same way.
What is the solution to getting your home under offer without showing as reduced?
First, check your contract with your current agent to see if you are tied in and for how long. If you are tied in for several weeks, you can still give your agent notice so your contract ends on the correct date. Don’t wait for your contract to end and then serve notice, as this only extends the period you are with your current agent.
The good news is that when you change estate agents and relaunch with a new agent, the property portals treat your home as a new instruction. Therefore, it now shows as a new property, and the horrible reduced tag is now removed, along with how long it was on the market with your previous agent.
We will do several things differently from most other agents. We will re-photograph your home and order the photos for maximum impact. We rarely launch a property with an external photo as the first photo, as we launch our properties with the four best photos first, using the Rightmove Premium Marketing material, which is a Feature Property and a Premium display for the life of the marketing. We will also launch your property on all four major portals, not just one or two.
Crucially, we know what day of the week to launch a property. We use portal data to know when buyers are most focused on searching for their new home.
If you are interested in an informal conversation about how best to sell your home or relaunch it to the market for the best possible outcome, please get in touch. On 01273 009966 – mcox@coxandcohomes.co.uk or click this link – https://coxandcohomes.co.uk/contact/
