house sales: hampstead, north west london
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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