06 Oct You will notice Agents who are regularly reducing prices.
What happens is that they over value to persuade owners to instruct them to sell and then, within just a couple of weeks, they are pressing them to reduce the price. This squanders the best time for marketing, which is when the property first becomes available. If it doesn’t sell and potential buyers see that the price is being reduced, it induces a loss of confidence and low offers.
Invariably these properties, when they eventually sell, achieve lower figures than if they had started at the right price.