Asking price for house: start low to generate interest or high to get best price?

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rapid

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I am putting my house on the market in Dublin in September. It has been valued by about 3 estate agents at between €480,000 - €520,000.



Different etstate agents have offered different advice as to what price the asking price should be:
advertise for €470,000 to get people interested, then let them bid each other up to a sale price of over €500,000 approx.​
or​
in the current market, houses are not achieving their asking price, so start by asking for the higher price, say €520,000 and hope that it achieves over €500,000 approx., as people will not offer the asking price.​
One thing that I am thinking myself is that, obviously, the estate agents want to make life easy for themselves and get the house off their books as soon as they can, so are they recommending the lower price just to suit themselves?

Any opinions welcome!

Has anybody any opinions on this?
 
You might want to check out how much competition you have in your area. If there are a small number of similar places for sale at a similar price you might get interest at the higher price. If the market is flooded with similar places then people will just look at the cheapest and work their way up the list. In this case they may never make it up to your premiumly priced house!
 
agree with whizzbang, you'll need to check out the comp. go to my home and daft and count up how many similar properties are on and how many are at a lower and higher price.

obviously if there are quite a number below yours then i'd prob go in at the lower end. you might want to go view some of them even to see what they are offering.

you're quite right in saying some buyers will most prob not go in at the asking price so make sure you put IN EXCESS next to your asking price
 
Apple* said:
you're quite right in saying some buyers will most prob not go in at the asking price so make sure you put IN EXCESS next to your asking price
Click to expand...

Whenever I see 'Excess' stated next to an asking price, I completely disregard it. If they wanted more than the asking price, they should set a higher one!
So not sure whether it is a good thing place by the asking price?
 
I sold in Navan in February. I reckoned I would get 390-400 for the house. One agent valued it at 400-410 and the other 2 valued it at 370. I decided to put it on the market at 375. Luckily enough I suppose, I got 2 buyers bidding and eventually it sold for 395. So for me starting low got people in the door - I had plenty of viewings and the house sold in under a month for the price I wanted.
 
Personaly if I were to offer an asking price and sellers said no I would just walk, there are plenty of properties for sale out there (I don't go with the philosophy that this is the one...not even with members of the oposite sex...its just a house). As a newbe to Irish market I would expect to get house for lower than asking price, as I have been studying the market over here from the U.K. and noticed a serious slow down in sales.
Just be honest and ask what you want for it/what you think you can realistically get for it in the current climate
 
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