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To Reduce or Not to Reduce: Should I Lower The Asking Price Of My Property?

August 1, 2023 | Mariel Roe

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To Reduce or Not to Reduce: Should I Lower The Asking Price Of My Property?

If your property has been for sale for a while and still isn’t attracting attention from prospective buyers, you may think it’s inevitable that you’ll have to drop the asking price. However, before you do, it’s important to take some time to consider the situation carefully.

While in some cases lowering your asking price may generate fresh interest from purchasers who would not otherwise have found your property because it is out of their price range, it isn’t always the solution to your problem.

With this in mind, the team here at Properly have some expert advice to help you decide whether reducing your asking price is right for you. Read on to learn more.

When Dropping Your Asking Price, Make A Single Impactful Drop!

When it comes to adjusting the asking price of your home, it’s natural to consider making multiple small price drops over time. However, it’s essential to be mindful of the message this strategy will convey to prospective buyers. Making frequent incremental reductions can raise suspicion and create doubts about the value and desirability of your property. Buyers may hesitate to invest in a home that appears to be steadily decreasing in value.

To avoid such perceptions, if it’s necessary to lower your asking price, we recommend you make a single impactful price drop and then leave the price at that level. This approach can make a solid statement to potential buyers, demonstrating your commitment to selling the property and creating a sense of urgency. By making a significant adjustment, you capture attention and show you are serious about attracting offers.

Don’t Forget To Leave Yourself A Little Negotiating Room

Of course, various factors will come into play regarding negotiations. How long the property has been listed for sale, confidence in the local property market, and how quickly the market is moving will all feature, but typically, you should aim to achieve 95% of the asking price for your property, losing around 5% to buyer negotiations. Make sure you don’t price your property so low that you no longer have any room to negotiate with your buyers. Work out how much wriggle room you need before setting your lower asking price.

Talk To Your Estate Agent

The original valuation of your property will have been based on your estate agent’s expertise and research, so consider what may have gone wrong.

  • Has your property potentially been overvalued by your agent?
  • Has local demand changed?

Before taking any action to reduce your asking price, make sure you’ve discussed with your estate agent other options to secure a sale apart from a knee-jerk price reduction. All reputable estate agents will be happy to discuss other options, such as switching up or improving the marketing of your property, to generate new interest.

At Properly, it’s our mission to ensure all our clients get the best possible price for their home.

Get in touch with us today on 0207 459 4400 or at mariel@properly.space to find out how we can help you achieve the best price for your property.

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London Youth work to improve the lives of young people in London, challenging them to become the best they can, and last year helped over 27,000 young people through their sports development, youth action and involvement, arts and outdoor education programmes and employment prospects. We feel strongly that all young people should have an opportunity to develop themselves, and so are delighted to be able to support London Youth in their work, providing young people with access to opportunities they might not otherwise have had, to learn new skills, to make a positive change in their communities and to shape the city they live in.


Glass Door helps homeless men and women in London through their large network of emergency shelters and support services. These winter shelters provide a warm welcome, food, safety and shelter for up to 170 people every night. Properly feels passionately about the issue of homelessness. That is why we are delighted that together with our clients we can assist Glass Door in their fantastic work to help some of the most marginalised people in society.





Families become homeless for reasons we can all identify with. We are concerned about people who are struggling to keep things together in our fast-paced world – and we care about those who have no support. We chose the Doorstep Homeless Family Project because they are passionate and effective yet they are a small team with limited funding. They provide homeless families, living in temporary accommodation in London, with access to services to secure the emotional and practical support they require to enjoy a better quality of life.






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