The True Value of your Property

Welcome to our March 2017 edition of ‘Keeping In Touch’. 

When selling and making life changing decisions, you need to know – What is the true value of your property?

Is it       a). The price the agent gives you?

b). The price you want to achieve?

c). The price a buyer says they will pay?

d). The price a skilled negotiator can get for you?

Everyone has an opinion about the value of a property, from the hopeful agent to the local tradesperson, the next door neighbour and your best friend.

There is however, only 1 decision maker  and 1 value decider.

As the property owner, you are the decision maker. It is your home, it is your money, it is your asset, it is your call whether to sell or not. Unless you are buying it however, you do not choose its current market value. Now that we have eliminated option b, have a read of the full article and see what you think the correct answer is.

 

Welcome to our March 2017 edition of ‘Keeping In Touch’

When selling and making life changing decisions, you need to know – What is the true value of your property?

Is it a). The price the agent gives you?

b). The price you want to achieve?

c). The price a buyer says they will pay?

d). The price a skilled negotiator can get for you?

Everyone has an opinion about the value of a property, from the hopeful agent to the local tradesperson, the next door neighbour and your best friend.

There is however, only 1 decision maker and 1 value decider.

As the property owner, you are the decision maker. It is your home, it is your money, it is your asset, it is your call whether to sell or not. Unless you are buying it however, you do not choose its current market value. Now that we have eliminated option b, have a read of these next paragraphs taken from an article, and see what you think the correct answer is.

The Price the Agent Gives You… Don’t mistake the price the agent tells you your home is worth, as the price you are going to get for it. The agent’s price is only an estimate of what they think the market will pay for your property. It is just an ‘opinion’, their opinion and you don’t even know if they are giving you their honest opinion or not. Besides, the agent’s opinion of the value of your property is only relevant if they intend to buy it. It is the buyer’s opinion of what your property is worth that really counts, because they are the ones who will be paying you money for your home, not the agent.

The agent is just trying to win your listing; they are not the buyers for your property. You will only discover the true market value of your property when you put it on the market for sale. Only then will you know what the market is willing to pay for it.

Now, this is when your choice of agent will determine how good a price you will receive for your property. Understand that neither you nor the agent controls the market. What is in your control and this is very important, is how you choose your agent. A good agent will be able to influence the right buyer to pay more for your property. Don’t fall for the oldest trick in the real estate agent’s book by choosing the agent who tells you the highest price. This agent is not likely to get you the highest price. You should choose instead, the most skilful agent. Choose the one with proven negotiation skills and a track record of achieving high prices for their sellers.

If the temptation to go with the agent who quotes you the highest price is just too much to ignore, then at least protect yourself by getting that agent to guarantee you in writing, their price, or you pay them nothing if they sell it for less. This will test the honesty of their price. If the agent refuses to sign such a guarantee, you now know the reason they quoted you a high price – to get your listing. You have just flushed out the dishonest agent.

So, which option decides the best price for your property? We would love to hear your thoughts….

If you are thinking of selling, then why not give any of our sales team a call. We can help you understand the selling process – we can take away the stress of what to do when you are selling and most importantly, we will walk you through the process of ‘finding out what your home is worth’.

 

Kind Regards

Mark Watkins

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2017 autumn knowledge selling
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The True Value of your Property