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11th August 2022
Why The Highest
Market Appraisal of Your Home Isn't Always The Best!
Properties prices in the UK have risen every month for the first half of 2022 and now stand at record highs. For sellers this is very good news, because one of the main targets for anyone thinking of putting their home up for sale is of course to make sure they achieve the best price possible.
That's a big part of the job we do for our clients and something that can be achieved with well marketed and correctly priced properties.
Differing from the basic valuation that many other agents offer, our market appraisals encompass and focus upon the entire marketing of your home and the strategy we’d employ to get you the very best price. We’ll give you all the knowledge and advice you need to make an informed decision.
However, the market appraisal we give you might not always equate to the highest value you may get from another agent. Why is this?
Honesty
The simple answer is honesty.
For instance, some estate agents desperately need new business and will promise the earth to get it, leading to overpriced properties that languish on the market for months. We’ve mentioned before how some agents working for large chains receive payment for simply getting your business rather than actually selling it.
This then leads to a reduction in the asking price somewhere down the line in order to try and sell, by which time buyers have seen this process going on and it doesn't look good.
We call this a 'stale' property and it’s not a good situation for a seller to find themselves in.
Knowledge
We pride ourselves on being straightforward and transparent and always give an honest appraisal that reflects current market conditions, using our extensive local knowledge.
Each property is different. You might have seen a nearby home on sale for a certain amount of money and think that's what yours should be priced at too, but there are many factors to take into account.
For instance, some people want to buy a new home, move in and do nothing to it - an 'unpack the boxes' move. Others buy a new home with the express intention of making it their own in many different ways, whether that just means a new lick of paint or a total refresh, refit and remodel.
We can give you an impartial view from a buyers' perspective and we do this by treating everyone as an individual sale - there really can't be a 'one size fits all' approach if you want to get the best price for you property.
Banding
Price banding is very important. It's simple if you think about it - a buyer has a budget in mind and will view properties that fit their criteria with a buffer zone to spare.
If you price yourself in an unrealistic way you are automatically going to miss out on a number of perspective buyers, but if you attract competition between them you can find a 'bidding war' takes place and people go to their upper limits to secure their new dream home.
Again, it is a case of 'horses for courses' and a good estate agent will be upfront about this, because they want to help you actually sell your home, not just have it on their books to make themselves look busy.
If you'd like to know more about how we appraise properties
and why the biggest and most flattering figure might not always be the best,
get in touch today and we'll tell you all you need to know!