Why is the highest valuation not always the best?

When choosing an estate agent to sell your home in North Cotswolds and North Oxfordshire beware of selecting one based purely on the fact that they have given you the highest valuation.

 

This is because often after a few months, without any offers, they will then suggest that you lower your asking price to create some interest. What this actually means is that you will be reducing your price to what it should have been put on the market for in the first place.

 

Many people think “but we can always take an offer/it’s worth a try”. However, there are several problems with this approach.

 

Firstly, buyer activity is always highest when a property is first added to the market. This can lead to a sense of competition between buyers which drives the price up.

 

Secondly, the longer a property remains on the market, the more inclined prospective buyers are to think that there must be something wrong with it as no-one else has bought it. This has the effect of devaluing your property.

 

Finally, potential buyers look at properties in a price bracket that they can afford. If your property is overvalued then it will not be seen by the people that you want to see it. Instead it will be seen by buyers looking in a higher price bracket who will find that it compares unfavourably with the other properties in that bracket that have been given realistic valuations.

 

Remember if your property is valued correctly you will be able to secure the best possible price in a very short period of time.

 

Call us today for a free no-obligation valuation on 01608 695252 or send an email to hello@distinctpropertyconsultants.co.uk  and we will help you to achieve your home-moving dreams.

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