| The Value of your Property |
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Valuing a property correctly is crucial to the successful sale of your home. Pitch the price too high and your property may compare unfavourably with others at the same price and you risk losing ideal buyers; too low and buyers may question what is wrong with it.
It has been known for some estate agents to over or under-value property for their own financial gain. Agents who over-price property do so to impress the seller and win their business. At this point, the seller is then tied in to a contract. Discontentment and frustrations flare when the seller is then forced to lower their asking price, because the property fails to sell.
Under-valuing can be just as risky; cheaper properties tend to sell quickly allowing the agent to earn their commission faster but leave the seller in a real danger of selling for less than the property deserves.
It is fully understandable that you will want to achieve the best price for your property, and it is very tempting to ask just that little bit more.
As discussed above, some less scrupulous agents understand this only too well, and will deliberately over-value your home to win your business. However this can have less than satisfactory consequences for you!
Ready access to information via the Internet has made it easier for savvy buyers to clearly identify over-valued properties – utilising a variety of sources available to them (rather than simply relying on the word of an estate agent) to make informed decisions on the accurate value of property.
The range of options for finding property has also increased over the last few years. Buyers are no longer restricted to the selection provided by their estate agent and will look elsewhere for similar property, in the same location, but at lower, more appropriate prices.
There are several problems with over-valuing your home; the most important are outlined below: -
Our agents do not over-value or under-value properties. We are a firm that has built our reputation on honesty and transparency, and we aim only to achieve the best possible result for our sellers. Unlike most estate agents, our sales team are not paid by commission and are, as a result, able to stay focused on the interests of the client.
© The Guild of Professional Estate Agents
Alternatively, please telephone Kendal (01539) 725582 or Milnthorpe (015395) 64600 to arrange a free no-obligation valuation.
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