Know your stuff
Wow, after my last blog I was inundated with emails, mostly about how home owners come to the valuation of their own home. Firstly, I stand by everything I say in that home owners do tend to over value their own home. I’ve even seen estate agents over value their own home and my house probably isn’t worth as much as I think.
Whatever you think its worth, you need to do the due diligence and the sums on your property. Make sure you can not only get a realistic figure as to what it’s worth but also back it up when challenged or questioned by the estate agent. Some estate agents and thankfully this is in the minority, will just put the house on “Rightmove” or “Zoopla” or “On The Market” and then just leave it on there. That’s not selling houses, that’s not being proactive. To be fair and in the defence of these poor estate agents, if you have insisted that your house is worth £20,000 more than they think it is and they know it won’t sell at your price then can you blame them for doing nothing?
The best way is to listen to their valuation, ask them to show evidence or comparables and come to a joint decision as to the value of your home. If the estate agent thinks the price is a true reflection and that they will be able to sell the property and therefore earn their commission then they will be more motivated. Whether you want to hear that or not, that’s the truth.
Don’t be afraid to challenge the estate agent on their valuation but make sure if you disagree then you can back it up with your own facts and figures.
If you are a buyer, seller or even thinking about becoming one, you don’t even have to be a client of ours, we still want to HELP you. Drop us an email at email@example.com or phone on 0191 5124940 we are here to help