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A competitive pricing strategy is key to securing the best price when selling your flat, according to experts at Cluttons. While there is strong support for apartment values, especially in central London and given the shortage of stock, sellers should price competitively in absorbing as much interest and generating a situation where buyers are competing to secure the property.
James Hyman, Partner of Residential Sales at Cluttons, argues that buyers are very well informed about prices and if sellers overvalue their flats initially (in order to eventually work down on the price) then that would alienate a proportion of their target buyers. However, by pricing competitively from the start, it would result in a faster sale and a higher final sale price from buyer competition.