When you’re selling your home, it’s crucial to choose an estate agent which is experienced, helpful and honest and that you don’t automatically choose the agent that suggests the highest asking price. 

The agent providing the highest valuation won’t necessarily achieve the best price for your property and can often lead to price reductions.  Choosing the right agent can make all the difference, enabling you to sell your home quickly and for more money. 

Capture Buyer Attention 

A good agent will quote a realistic price based on their experience of buying and selling properties in their area, an analysis of local market data and their ability to negotiate.  Listings on property portals such as Rightmove, Zoopla and OnTheMarket will get the most exposure in search results within the first week, so it’s vital to set the right price from the outset to maximise interest and viewings.      

Be Realistic 

Some agents will quote a high initial asking price in order to win your business.  It’s nice to hear that your home is worth more than you thought, but the reality is that price is ultimately determined by offer and demand.  Quite often, what will happen is that your property won’t sell simply because the asking price was too high from the outset and, the longer it doesn’t sell, the more buyers assume there’s a problem with the property.  Agents will then urge you to start dropping the price and, in some instances,  the property sells for less than if it had been realistically priced in the first place.

Market Evidence 

There can be many reasons why a property is reduced in price and it is often something that estate agents don’t like to discuss when talking to new potential clients. At PPP we will always believe in offering complete transparency and honest information on the local market conditions. We share this knowledge to help people to progress with their plans and to make decisions based on facts and market evidence.

Fortunately, a number of national property portals allow agents to track not only sales agreed or new listings in specific areas, but also price reductions.

The latest independent data from Rightmove, the UK’s largest property portal, shows:

Price Reductions across all of Perthshire:

1st January – 31st December 2019

    Agent 1 – 178

    Agent 2 – 95

    Agent 3 – 58

    Agent 4 – 47

    Agent 5 – 43

    Premier Properties – 55                 

"Perhaps rather alarmingly, the agent top for price reductions across Perthshire actioned 178 price changes in total. A significant difference from ourselves on 55 and even the agent in 2nd place on 95. Over July, August and September alone they actioned 62 price reductions. Whilst it’s interesting data to look at and consider, the info isn’t publicly available as such and we aren’t permitted to name any agents or solicitors firms, other than ourselves. We do believe this info would be very useful for clients and vendors to access freely so hopefully there may be a change on that policy with the property portals."
Katie Hall
Director
This is one chart we are happy to be lower down on. We feature high on the sales agreed for the year and this evidence shows that it’s not because we are having to reduce the price of properties to achieve this. For us, we believe this shows that we are continuing to be quite accurate with our pricing of properties and also that our marketing continues to be one of the most effective across Perthshire. What owners need to be wary of is being overpromised by an estate agent simply to get their business and inevitably down the line a price reduction, or sometimes multiple price reductions, will have to be actioned to help find a buyer. Another important point to make is that there is always an ongoing debate regarding the online agent approach versus a local estate agent approach and it’s interesting that the UK’s largest online agent features very high indeed on this price reduction table, despite being much lower down the sales agreed table for the year."
Gary Robertson
Head of Estate Agency
"Clearly we always want to achieve the best possible price for any client we work with but we will only give our advice based on our own experience in the local area and market evidence where possible. We will never value a property higher than we believe it’s worth just to secure business. Owners should choose an agent based on who they trust to deliver the best possible price and experience."
Alan Keddie
Director
"If a property is marketed correctly, priced correctly and the agents appointed are working flat out across all available methods then there is no need for a change in price to be considered or discussed in the majority of cases. When an agent gives an indication on the value of the property, owners should be prepared to ask how the agent arrived at that opinion and are well within their rights to do so."
Laura Green
Sales Negotiator
"Even with the best of intentions or down to a seller’s own timescale or situation, it may be worth considering lowering an asking price to help generate fresh interest in a property along with some other things that can assist and it should never be the first and only thing to try."
Cloe Wyllie
Estate Agency Assistant

Questions To Ask Your Agent

So, when deciding on an agent, you should be prepared to ask the following questions:

  • How many price reductions have they actioned for the year?
  • How many sales have they agreed compared to number of properties listed for the year?
  • How much over the asking price are they achieving for their sales?
Contact us for a FREE Valuation and we'll happily answer all of the above!

Want To Know More About Buying & Selling a Property?  Come Along to our Blairgowrie Drop-In Event

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What our clients say about us

Testimonials
Tunde Karlovski (March 2020) – “The best in Perth!”Tunde Karlovski (March 2020) – “The best in Perth!”Tenant, 2 Bed Flat - Perth

Everything was as it was advertised!

The rental process was very professional and easy for me, the communication was excellent.

The online maintenance reporting is really good and always dealt with quickly.

I only have had a good experience with Premier Properties.

I would highly recommend Premier Properties Perth to anyone who wish to rent a flat/house. The best in Perth!

Fraser Morrison (March 2020) – “Excellent media coverage of the property, as opposed to alternative traditional approach. Prompt after-viewing feedback and regular, relevant communications and updates. We always were aware that a viewing was happening and timing thereof. Staff worked as a coherent team.”Fraser Morrison (March 2020) – “Excellent media coverage of the property, as opposed to alternative traditional approach. Prompt after-viewing feedback and regular, relevant communications and updates. We always were aware that a viewing was happening and timing thereof. Staff worked as a coherent team.”3 Bed Semi Detached House, Perth

We chose Premier Properties due to personal contact and recommendation from a friend.

Excellent media coverage of the property, as opposed to alternative traditional approach. Prompt after-viewing feedback and regular, relevant communications and updates.  We always were aware that a viewing was happening and timing thereof.  Staff worked as a coherent team.

There seemed be a string of varied viewers quickly after the marketing was launched. Managed to seal the deal and extract the offer promptly, using expertise to understand the likely market peak.

Highly professional throughout leaving us confident that marketing, viewing and getting feedback from viewers was progressing.

Yes, I would recommend- based on recent experience.

Alexis Hone (March 2020) – “Premier Properties have taken the stress out of letting my property”Alexis Hone (March 2020) – “Premier Properties have taken the stress out of letting my property”Landlord, 2 Bed Flat - Perth

I would definitely recommend Premier Properties, it has taken all the hassle out of letting.

I felt staff were very knowledgeable, gave great advice and kept in touch.

Premier Properties have taken the stress out of letting my property, they have been very helpful and organise maintenance quickly. I also really liked the form they sent out with the spending breakdown for the tax return.

Grace Liddiard (March 2020) – “Everyone has been polite and helpful”Grace Liddiard (March 2020) – “Everyone has been polite and helpful”Tenant, 1 Bed Flat - Perth

I chose Premier Properties as they had a property to rent that I was interested in.

All relevant information was included in the property listing and I found the overall communication very good.

Any maintenance issues have been dealt with efficiently.

Everyone has been polite and helpful.

I would recommend Premier Properties as the communication is easy and they are always willing to help.

Jackie McCabe (March 2020) – “Great service 7 days a week”Jackie McCabe (March 2020) – “Great service 7 days a week”Landlord, 2 Bed Flat - Perth

I would recommend Premier Properties to others – great service 7 days a week.

I felt the customer service was excellent – Murray was very good. Any maintenance issues have been dealt with excellently.

I thought the marketing of my property was very good. I chose Premier Properties because of their prompt and professional service.

Sheena Moyes (March 2020) – “There is nothing they wouldn’t do to help you”Sheena Moyes (March 2020) – “There is nothing they wouldn’t do to help you”Tenant, 2 Bed Terraced House - Perth

I chose Premier Properties after meeting Murray who is always helpful and wants to help. Murray went out his way to help me in a difficult situation.

I find everyone that works for the company very helpful and I am always kept up to date with everything. Any maintenance issues I have had have been dealt with that day.

Premier Properties are so helpful and caring for any situation you find yourself in and are there for you 100%. There is nothing they wouldn't do to help you.

Susan Morton (February 2020) – “I have used Premier Properties before, and I found everything to be professionally done. The negotiation of the sale was excellent, and I was kept well informed from start to finish.”Susan Morton (February 2020) – “I have used Premier Properties before, and I found everything to be professionally done. The negotiation of the sale was excellent, and I was kept well informed from start to finish.”2 Bed End Terraced House

I have used Premier Properties before, and I found everything to be professionally done.

Viewings were flexible and accommodating with buyers schedule, and the communication received was excellent. The negotiation of the sale was excellent, and I was kept well informed from start to finish.

I would most definitely recommend - the whole experience of the sale was done very professionally and kept me well informed

 

 

Annette Munn (February 2020) – “This is the second time I have used Premier Properties Perth. I have found them very professional, helpful and willing to go the extra mile for you, value for money.”Annette Munn (February 2020) – “This is the second time I have used Premier Properties Perth. I have found them very professional, helpful and willing to go the extra mile for you, value for money.”2 Bed detached bungalow

This is the second time I have used Premier Properties Perth. I have found them very professional, helpful and willing to go the extra mile for you, value for money. They are really professional in the way they market your property.  Always willing to listen to your views and take them on board if necessary.

Potential buyers were dealt with extremely well. Not rushing viewers, pointing out all potential points and professional in all aspects. Communication from staff was excellent in every way, and we are extremely happy with the way the sale was negotiated.

Very happy with the service and we would recommend - this is the second time I have used Premier Properties Perth and both times I have been very happy with the service provided.

Danny Christie (February 2020) – “Nothing to improve, they were the Best”Danny Christie (February 2020) – “Nothing to improve, they were the Best”2 Bed Flat

Premier Properties were recommended, and I would certainly agree. Very pleased with advertising, sold very quickly.

Pleased with Premier's professionalism, and they were happy to conduct all viewings. They kept us well informed and always easy to contact. We were able to discuss the sale of the property in a positive manner.

The process was all very professionally handled. Yes, would definitely recommend - very pleased with the overall results.

Nothing to improve, they were the Best.

Russell & Jackie McCabe (February 2020) – “Happy on how you rented our property, so you were the natural choice to sell with.”Russell & Jackie McCabe (February 2020) – “Happy on how you rented our property, so you were the natural choice to sell with.”2 Bed Modern Apartment

Happy on how you rented our property, so you were the natural choice to sell with. The property marketing was excellent - very quick and professional.

Potential buyers, communication during selling and the negotiations were all excellent, and we received good advice.

We would recommend Premier Properties due to their excellent service.

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