Price to sell or price to get interest?

[Wudgy]

In term of pricing a house what do you think is best.
Given a value of property 420- 450 by several estate agents however big variations on how much to list it, some saying put on at 400k to get interest and then hopefully some bidding however I think this is crazy as surely buyers won’t bid more than 10-15k max over the “ offers around” price as they might feel they are paying over odds. Also wouldn’t be happy to actually sell for 400 so again think this is risky. Feel starting point should be at lower end of value so 420k? Thoughts and experiences please would be great!

I'd suggest putting it on at £5k over the lowest price you'd accept. What's the market like where you are? Are things selling really quickly or taking longer? Unless the estate agent manages to engineer a bidding war then people are likely to initially offer just under asking price.

Don't put in low to list it, that sounds like a bad idea unless it's a really hot market where you are, and you have a house that fits what the market wants at the moment. You may have loads of viewings and loads of low offers which you have no intention of accepting. Plus you can't put the price up if it's not as popular as you think it is. Just price it fairly, people who are looking will probably have an idea of how much it should be worth. If it's quite low people will think there's something wrong with it.

I was selling a flat a few years ago. Had 3 valuations. Lowest was £800k. Highest was £815k I put it on at £795k and ended up selling at £817k... had 4 offers. Sold within 2 weeks.

Depending where you are, it is a sellers market at the moment. I would put in on at £450k and see what interest you get.

I've got estate agents valuing this week so interesting in this strategy as well. Market is pretty hot here. My view is people tend to want to negotiate down, not down. But then bidding wars are more of a thing at the moment!

Thanks, exactly my thoughts - will need to chat to agent tomorrow . The market is very good here and things are selling but I think it’s a stretch to consider that a bidding war would get you up to 30/50 over the listing price!

Surely most peoples mentality is to negotiate down? Yes in some areas people know that properties end up going for over asking price but that’s not the case in most places.

What have similar properties to yours sold for recently?
If it was me, I’d put on for either £445k or £439k and see how you go