Selling a property for the first time can be really daunting. Your main goal is to receive as much money as possible from the sale and that starts by getting an accurate valuation.
Unfortunately, not all estate agents will give you a reliable figure of what your property is worth. If it is valued too low, you’ll obviously miss out on a lot of potential profit. If it’s valued too high however, you’ll have a difficult time selling. So how can you ensure you get an accurate valuation?
Always do your research
You should never blindly trust the estate agent’s valuation. Many actually over-value a property simply to gain new business. Obviously, you’re going to be thrilled with a high offer; particularly if you weren’t expecting it! However, if the price is higher than it should be, eventually you’re going to need to lower the cost of the house. This could incur additional fees and worse, it puts potential buyers off.
Start by researching average house prices in your area. It’s important to ensure you’re looking at recent figures too. You may find that properties sold for more money a few years ago, but the housing market changes constantly and the prices may have dropped since the last sale.
Having a good idea of the average value of homes just like yours will help you to see whether the valuation you are given is accurate or not.
Be sure to use a reliable agent
There are a lot of different ways to sell a property these days, but if it is your first time you will be better off using the services of a reliable estate agent.
However, times have changed and these days it might be a good idea to opt for an online agency rather than a traditional high street estate agents. This is because the fees are typically much lower, giving you more profit from the sale. You’re also more likely to get a trustworthy valuation if you choose a good respected online agency such as Hatched.
Consider having more than one valuation
If you can afford it, it’s worth getting at least three valuations carried out on your property. That way, you’ll know for sure whether you’re getting an accurate quote. Ideally, you’ll want to get a valuation from a RICS qualified surveyor as they are going to give you an unbiased opinion.
Overall, there is a lot to consider before you sell your first property. Ensuring you do your research and that you choose a good agency are the main ways to ensure you are getting an accurate valuation.