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 vendor and win their business. At this point, the seller is then tied in to a contract. Discontentment and frustrations flare when you are then forced to lower your asking price, because the property fails to sell.
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.
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.
A Professional Estate Agent will have considered several important factors when valuing your property, including; -
- The location and character of your home
- Its features and condition
- The current market price for similar properties in the same location
- The demand for similar property in the market
- Projected market trends and conditions