5 top tips when valuing your property
There’s a plethora, an abundance, a surfeit (call it what you will) of online property valuation tools at your disposal. Just hit Google and type ‘Value My Property’ and all manner of tools, Pay Per Click ads, and estate agency websites will appear.
The problem with online valuations, though, is that the search engine doesn’t see your home.
It can yield the price you paid from Land Registry figures; it can yield a valuation range based on capital growth since ownership and give you, the home seller, a rough idea.
It is only an approximation, though.
5 top tips for you to use when selling your property:
- Do your homework – look at the portals, search around your postcode, including SSTC in the search, to compare your property with others – this can give you an idea of value. Think too about what you’ve done to your property since ownership – how will this have affected value?
- Invite three estate agents out – it can be a purely online agency, a national firm, a traditional local company, a hybrid firm. Compare the valuations they produce with the homework and ask how these figures were arrived at, and if they’ve sold properties like this, in your price band.
- Assess how quickly you want to sell – if you’re relocating to be nearer family or for job reasons, be more flexible on valuation figures. A quicker sale will often result from a realistic asking price. If your moving needs are less pressing, you can fly the kite, the asking price of your home, a bit higher. Not too high though as you need to capitalise on that 2-week window.
- The ‘2-week’ rule – remember when a property goes live on the market, it tends to get most hits on portals and social media pages, in the first two weeks. That 2-weeks is crucial for getting viewings and offers. The valuation needs to be realistic, the photos, floorplan and particulars so compelling as to catch home buyers’ attention.
- Finally, remember too to be pragmatic with your asking price. If the local market is bullish, with property selling quickly, great. If it’s not, think carefully about the value to sell quickly in a sluggish market. The Norfolk Agents are fortunate to sell properties in an area where demand is high, but economic market conditions can change.