In Estate Agency, a high valuation does not mean you’ll get more for your property, nor does it indicate a high-value service!
Estate Agents’ market valuations are usually free, and because of this, it is very tempting for prospective sellers to invite a number of Estate Agents to comment and then select the Agent that suggests the highest likely sale price for the property.
However, we advise caution on this issue. Some (mainly corporate) Estate Agents’ valuers are paid a bonus on the number of new instructions they secure, irrespective of the saleability of the property offered for sale at their suggested value.
The easiest way for an Estate Agency valuer to win a seller’s business is simply to suggest a flatteringly high figure, but many people who fall into this trap live to regret it.
One of the problems is that most people have only a cursory idea of what Estate Agents actually do and, just as importantly, what values they cherish and what service they offer.
Ironically, it tends to be the cheaper, untrained or inexperienced Estate Agents who quote the highest values, yet it is the well-trained, experienced Estate Agents who have the knowledge and skills to secure the best prices for their clients in the shortest time.
So, when selecting your Estate Agent, by all means invite several to comment on value, but then choose the one who can demonstrate:
- confidence and knowledge,
- justify their valuation with similar properties which have sold and/or are currently on the market,
- has an actual marketing plan in place,
- along with superb post-offer follow-up facilities,
- has the integrity to offer straight-talking advice,
- uses superb communication skills to keep you informed every step of the way, before, during and after the sale, thereby minimising the stress of moving.
Additionally, find an Estate Agent that you like and trust!
A good Estate Agent should be able to tell you what percentage of their original asking price they actually achieve on average for their clients, as well as how long they took to find a buyer against national averages.
At Burnett’s, we understand that you’re not just selling bricks and mortar – you’re selling your biggest asset, your home!
We pride ourselves on getting you the best possible price, in the shortest possible time. We won't overvalue your property just to get your business.
