Come On Down … The Price Is Right !

Todays lucky contestants are the three Estate Agents we’ve asked to value a home, guess the price correctly and one of them could be walking away with a signed contract – sell the property and they will also receive the coveted top prize of the commission cheque.Thankfully it’s not a game show (not yet anyway), but it is one of the first steps in selling a property and although you should greet it with a thunderous fanfare, you should treat it like a huge business proposal.

How do you go about it?

1. Do your research first, so you will have a general idea regarding the price of your home. It removes any element of shock (Good or Bad) when the value is given.

2. Chose the Estate Agents you would like to come to your property (maybe they have sold many properties in your area, constantly leafleted your home or made a great impression on you from past activities).

3. Try not to have all your appointments booked on the same day – this way you will have time to absorb what you are being told.

4. Give yourself approximately one hour to one and a half hours per visit.

5. Keep notes as you go along, not just about the agents thoughts on the value or their fee, but what you thought about them also. This makes deciding a tad less complicated.

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Although the agents have been invited out to put a value on your home, you are also looking for them to put a value on you too! Don’t panic and don’t rush into anything you may regret. Instead be prepared and remember that you are just as valuable as your home.

What questions should you ask?

1. The Value? But just as important is how they came to that price (they may have other properties that have been sold in the area – have been dealing with surveyors who have re-mortgaged homes nearby – have purchasers that are willing to pay the price for a home in that area).

2. Fee? Exactly how much will you be paying and when do you pay it (Some are on the successful completion of a sale and others are upfront), also find out if there is a cancelation fee.

3. How long is the contract for and what is the notice period? Not every Estate Agent will be a match made in heaven and if you feel let down you may want to part company – If the contract is for a 10 week period with 2 weeks notice, you are within your right to terminate your contract on the 8th week and free to instruct someone else at the end of the 10th week.

4. What services do they offer? Things to look out for would be accompanied viewings, regular updates on the progression during marketing, feedback on viewings and how they handle the offer/sales process.

Who do you chose?

The chances are that no Estate Agent will be the same and by keeping notes at least you will be able to look through them to help you decide.

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You still cant chose?

If at the end of all the valuations you still can’t decide, then my advice would be to go for the one who listened to you and understood and met your needs – this shows that they will be attentive towards you and sympathetic throughout the whole process.

 

 

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Selling property for over 25 years, helping vendors achieve higher values, purchasers to get the home they want and helping Estate Agents achieve their goals.

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