What Percentage Discount Did You Sell For?

[FreestylingFlamingo]

We've just accepted an offer for 5.88% under our original asking price. We're in Bedfordshire and have been on the market since late June.

I'm thinking we've taken too much off percentage wise but the market is very slow here. Interested to know what percentage others have sold for, what county you're in and how long you've been on the market for!

Personally, I'd hold off putting the property back on the market until after the budget in November. Many EA's are blaming the risk of unpredictable tax increases for a slowing market.

Read the RICS monthly survey to get a good insight into sentiment. It includes some surveyor (EA) views, such as:

"Jeremy Richardson, AssocRICS, Fine & Country - Reigate & East
Grinstead, [email protected], Reigate & East Grinstead -
Prices being asked are too high, most agents are still either too
afraid or ill equipped to explain this too sellers. This failure to
educate owners means that most properties are launched at
inflated prices = madness - properties are most saleable in the first
few weeks except when overpriced!"

www.rics.org/content/dam/ricsglobal/documents/market-surveys/uk-residential-market-survey/8_WEB_August_2025_RICS_UK_Residential_Market_Survey_tp.pdf

we've just dropped 15% off our original asking price, we haven't sold again yet. need to get our onward to drop by 6%. we had agreed a sale at 6% off ours but unfortunately the chain collapsed just before exchange. now getting desperate... we've already spent £7k on surveys, conveyancing, etc

It's okay to say this: "This failure to
educate owners means that most properties are launched at
inflated prices = madness - properties are most saleable in the first
few weeks except when overpriced!"
But when maybe you're talking 'most saleable' or easier for the EA to sell quickly if you knock an extra £5k off asking price, then you can see why 'what is over-priced' is such a moot question. £5k is a lot of money to most people.

EA's are their own worst enemy. The majority over-value to get the home on their books and then fail to sell them after wasting all that money on marketing.

The real question is whether it's better to lose £5K now of £10K later. Falling knife, etc

That's awful, how stressful. I hope it all works out for you.

The point was as can be seen from here, many do sell at asking price. So if it is over-valued you don't really find out until offers, or not, come in. I wouldn't want to 'lose' £5k because an EA realises it's easier to sell an under-priced property and I don't know that!

I think that we could have a lively discussion about whether it is possible to under-price. That does assume that you (or the EA) know what the price should be. Only the market knows that.

Last year we sold 10% under, but bought at 16% under (same SE town) - house prices round here are all over the place

Not true. It's the agent's job to be abreast of their local market and to know what is selling and for what price. It is also the seller's responsibility to research their local market and have a good idea too. In a slow and falling market, over pricing generally leads to lower offers, not higher ones. Choosing a slightly below current market price, causes buyers to potentially over bid as they think they might get a bargain. We aren't talking £5 generally when it comes to house prices. Higher end properties are often over valued by six figure values. I've seen some reduced by 30% and still not sell.

"Choosing a slightly below current market price, causes buyers to potentially over bid as they think they might get a bargain."
Unless you've already accepted an asking price bid! There's a thread/posts elsewhere about EAs banging up the SSTC sign as soon as the offer is accepted.

No. What would happen if a house was advertised a bit under current market value is that it would attract masses of interest and several bids within a very short period. The seller would then consider the offers and make a choice. After that, the agent can mark it as SSTC. Are you suggesting that sellers and agents should continue to market a property and allow viewings even after the seller has accepted an offer?
In any case, the above scenario is rarely happening. The opposite is far more common at the moment. There have been a lot of threads from sellers whose houses are having little interest and no offers after many months and there are reductions all over Rightmove.