Overpricing does not test the market. It burns the first three weeks, when your best buyers are looking.
Every seller has a number in their head. It usually comes from what a neighbour claims they got, and it is usually high.
Here is how we arrive at a real one.
We start from registered transactions
Not asking prices. Not what someone told you at a society meeting. Actual registered transactions in your building, or in genuinely comparable neighbouring societies, over recent months.
Asking prices tell you what sellers hope for. Registered prices tell you what buyers paid.
Then we adjust for your specific flat
Two flats in the same building can differ meaningfully in value:
- Floor and view — often the largest single factor
- Condition — a refurbished flat sells faster and higher
- Layout efficiency — usable carpet area, not just the number
- Direction and light
- Parking — allotted or not
- Society health — dues, disputes, redevelopment prospects
Then we adjust for your timeline
If you need to sell in six weeks, that is a different price from a sale you can wait a year for. Neither is wrong. But they are not the same number, and pretending otherwise wastes your time.
Why overpricing costs you money
There is an intuition that you may as well start high and come down. It does not work, for a specific reason.
Your listing gets the most attention in its first two to three weeks. That is when the buyers who have been searching your area for months — the serious ones, the ones with financing arranged — see it. Price it wrong then, and they filter past. By the time you correct, they have bought something else, and your listing carries the quiet stigma of having sat.
Priced right, you sell to a buyer who was ready. Priced high, you sell later, to a worse buyer, for less.
What we will tell you
We will tell you what the market will actually pay. Sometimes that is more than you expected. Often it is less. We would rather have the awkward conversation at the start than watch your flat sit for eight months.
You decide the price. That is genuinely your call. But you should decide it with a real number in front of you.