Research.... It is one of the most important things an estate agent can do before visiting your home for a market appraisal. This weeks story shows exactly why, and how it can make a huge difference to the price you achieve for your property.
Address - Tibicar Drive West
Property Asking Price - £129,950
Time On The Market - 4 Weeks
Sold For - Full Asking Price
We were invited out to Tibicar Drive West to undertake a market appraisal. A s usual, our valuer Nina got to work, ensuring she was up to date with previous prices on the street and also the 'competition' in the surrounding area. She arrived at the home fully prepared, or so she thought, for whatever she may encounter.
After looking around and discussing things with the vendor, she gave her valuation price of £129,950.....He almost fell off his chair laughing! Discussing things further, it transpired another agent had valued the home at £100,000! A 30k difference. Could we really have got it so wrong? We didn't think so, and after showing the vendor comparable homes in the area, neither did he. He decided to give us a try and see what happened....
We got to work on marketing the home and within a couple of days of the valuation, it was available for viewings. Interest was strong, reaffirming our price point. Several viewings were booked and all produced positive feedback. After less than 4 weeks on the market, a couple were shown around and they fell in love! This was the perfect property for them and as a result, an offer for the full asking price was made at the end of the viewing. The vendor was over the moon, as were we! We had sold his home for £30,000 MORE than he was expecting. A fantastic outcome...
So always remember, don't choose your agent because they gave you the highest or lowest valuation price.... Choose an agent that will get it right first time. Choose JDG!