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Market Appraisal |
Carried out by experienced staff members with a minimum of 20 years of local home selling experience. We will endeavour to substantiate the figures we offer with comparable evidence. Shepherds are better placed than most to provide the best possible guidance regarding pricing, marketing advice and answering all your home moving questions from the outset.
Who should you have out to value?
Have you heard or experienced good things about the agents you intend to have in to comment, have they a history of successfully selling properties of your type in your area, or are they little better than a random choice to canvass just another opinion? It is suggested that three carefully selected opinions are sought at this stage.
Is there an advantage to using an agency with multiple offices?
There is no evidence to suggest that multi-office agencies carry any additional benefit for your home sale in the modern market place. A client searching for a suitable purchase will invariably use the internet, only sometimes visiting agents, and then only within the relevant area, nor would any prospective buyer limit themselves to a single agency in any given area when house hunting. Beware the agent who tries to suggest otherwise.
How accurate is a valuation likely to be?
The likely value of any home will lie over a range which regularly equates to 5-7% of the base price - i.e if you perceive the value of your home to be £200,000 the fact is that it is likely that the actual range which could possibly apply would fall between £190,000 and £204,000 varying daily depending on market trends and ultimately who is active in the market place at that time relevant to that type of property. The asking price is then a matter of vendor choice, and any subsequent offers should be considered in the context of the marketing experience up until that time and the circumstances of the vendor.
The fact is that many vendors have a fair idea as to what their property may be worth and the price they anticipate going to market at - a good deal of information is available in the public domain, websites, land registry, or through neighbours sales etc. In many instances only an element of fine tuning goes on as result of the agent’s opinion but the fact remains that valuation despite its lack of any scientific basis remains seemingly one of the elements which incorrectly carries most weight in respect of the vendor decision as to which agent will handle the sale. Due to this factual uncertainty some agents may use the valuation visit somewhat cynically, and suggest an inflated price hoping it may bring with it a better chance of securing the business until price reductions can be sought.
Ultimately a property is worth what somebody is prepared to pay - the key is in effecting a total exploration of the market at an appropriate price point to be certain that the best sale has been achieved. The truth is that only by going to market can the true value of any property be explored but at a price at which viewings can still be achieved - no viewings, no offers!
What can I expect from the agents when they value?
A valuation is at best an educated guess as to what a property is worth and different agents will invariably suggest different figures over an applicable range. The agents should also provide you with an indication as to what you can expect from them and the home selling experience which you are likely to have. All too often you will find some agents “selling you” aspects of their service which you would expect any and every agent to provide. What they should be able to demonstrate is whether they are offering something in addition, something to make them stand out by way of an approach designed to actually help with and enhance your sale and move, enabling you to achieve your goals by obtaining a price which makes the move viable in a timescale that suits whilst eliminating large elements of the stress and hassle?
Shepherds prefer to see the “valuation” visit as a chance to provide comment and advice on likely value, but also to get across a clear indication as to the service that a client can expect, as well as an understanding of the costs and process’s involved and to answer any other questions over which the vendor may be unsure.
Some agents will also try and secure the instruction with the comment that they have a very specific buyer or buyers in mind – this may or may not be the case but even if an agent were aware of specific interested parties, that agent should still be duty bound to explore the whole market place, to be certain that the very best sale has been achieved.
What can I do that may enhance my sale chances and price?
We will happily offer advice in respect of any works which it may be prudent to carry out before entertaining viewings. Generally speaking a common sense approach is all that is required and just by looking at your property through the eyes of a potential buyer you will pick up on jobs that you’d intended to do but hadn’t got round to. Ideally you want the property to be clean and as clutter free as you can get it. If this is done room by room – not forgetting the garden and exterior then the necessary works will tend to show themselves and most can often be addressed with some elbow grease and no more than a few hundred pounds, but we can provide guidance in this respect.
The suggested values are different - What price should I ask?
At Shepherds we believe that although we will always give our informed opinion, valuation should be a process in which the agent and vendor agree on a price relevant to comparable evidence, discussion and the vendor attitude and requirements. Ultimately the vendor needs to feel comfortable with the price at which they are taken to market and the agent then needs to positively manage that representation within the market place.
Simple and Flexible Terms of Business
A straightforward approach towards Shepherd’s involvement continues with a simple agency contract with elements of flexibility to suit you and to “keep us on our toes”.
Beware the agent who promises the earth and then produces a lengthy and restrictive sole agency contract - look closely at any notice period which may be required.
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