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Property pricing-strategy advice — Estate agent
Pricing-strategy advice can help when preparing to market a property or reviewing an unsuccessful listing. Describe the property, objective and existing marketing history, and ask the adviser to distinguish asking-price strategy from a formal value opinion required by another party.
Service scope
Advice on an intended property's marketing price and review strategy using an agreed evidence base and selling or letting objective. It is distinct from a formal valuation and does not guarantee an achieved price, rental level or transaction speed.
What is normally included
- Marketing-price discussion
- Comparable-evidence review
- Agreed pricing and review plan
What is not included
- Guaranteed sale price
- Formal valuation implied without scope
- Fabricated comparable transactions
Typical tasks
- Clarify the marketing objective
- Review relevant property information
- Examine available comparison evidence
- Discuss pricing assumptions
- Agree review triggers and reporting
What to include in your brief
- Sale or letting objective
- Property type and area
- Current marketing stage
- Available evidence
- Desired written or verbal output
Choosing the right professional
Ask how comparison evidence is selected and what limitations are acknowledged. The most optimistic price suggestion is not necessarily the most useful advice, and a pricing discussion should not be presented as a formal valuation unless appropriately commissioned.
Important considerations
- Asking prices may be confused with completed transactions
- Market evidence can be limited or dated
- Incentives may influence an agent's suggested strategy
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