12 days is optimum time for a property to achieve its maximum sale price

Published : 9th February 2017


Vendors can get the maximum asking price for their property if it sells within 12 days, according to analysis by the HomeOwners Alliance.

The campaign group used its EstateAGent4Me comparison tool to assess how the eventual price paid for a property changes over time.

Agents with an average selling time of 12 days achieved 100.89% of their stated price, compared to those with a selling time of four weeks which achieve 98% of the original asking price, according to the research.

Based on an average UK property prices of £218,000, a 12-day sale will net the owner an additional £1,940 on top of their asking price, the HomeOwners Alliance claims.

In London, where the average property changes hands for £482,000, sellers will get an extra £4,290. After three months on the market, sellers will receive an average of £13,603 below their asking price, and more than £30,000 in London, the data found.

The HomeOwners Alliance says the figures are based on data from more than 5,000 estate agent branches using the EstateAgent4Me tool.

The tool is said to be used to grow conveyancing business for ULS Technology, which has a one-third stake in the Alliance.

It was initially launched by ULS Technology in 2015 before the HomeOwners Alliance claimed to have “rebranded and improved it”.

Source:- http://www.propertyindustryeye.com/12-days-is-optimum-time-for-a-property-to-achieve-its-maximum-sale-price/