Why the highest property valuation doesn't necessarily mean it's the best
Nathan, Sales Director, talks us through why sellers shouldn't be immediately drawn to the highest valuation when carrying out property appraisals
Estimated reading time: 3 minutes
The UK property market has experienced a surge in prices over the past two years, with valuations reaching record highs. While this is good news for sellers, it's important to note that the highest property valuation doesn't always equate to the best outcome.
In this article, we'll explore why this is the case and discuss how estate agents can help sellers achieve the best possible price for their property.
The role of estate agents
As an estate agent our job is to help clients achieve the best possible price for their property through effective marketing and correct pricing strategies. Unlike basic valuations offered by some other agents, our market appraisals focus on the entire marketing process and the strategies we'd use to get the best price for our clients. We provide clients with the knowledge and advice they need to make informed decisions.
Honesty is key
However, it's worth noting that our market appraisal may not always match the highest value that another agent may provide. The reason for this is simple: honesty.
Some agents may overvalue properties in order to secure new business, which can lead to a property becoming stale on the market, resulting in a reduction in price down the line. At CPS Homes, we pride ourselves on being straightforward and transparent, and always provide an honest appraisal that reflects current market conditions.
Read: 5 things to remember when selling your home
Unique approach
Each property is unique, and there are many factors to consider when pricing a property. For instance, a nearby property may be priced a certain way, but that doesn't mean that your property should be priced the same way. Buyers have individual preferences, and the property market is constantly evolving. That's why we provide an individualized approach tailored to each property to ensure that our clients achieve the best possible price.
Price Banding
Price banding is crucial when selling a property. Pricing a property too high can cause it to be overlooked by potential buyers, while pricing it competitively can result in a bidding war, leading to a higher final sale price. Here at CPS Homes we consider a buyer's budget and their individual preferences when pricing a property to ensure that it is priced competitively.
Our Goal
At the end of the day, our goal is to help our clients sell their homes at the best possible price. We do this by providing a unique approach that considers current market conditions, buyer preferences, and price banding. Our focus is on helping our clients achieve their goals, not just securing new business.
The highest property valuation doesn't always equate to the best outcome. Honesty, a unique approach, and price banding are key to achieving the best possible price for a property.
Read: 10 quick tips to sell your home fast
At CPS Homes in Cardiff, we pride ourselves on providing a transparent, straightforward approach that helps our clients achieve their goals. If you're interested in learning more about our appraisal process and how we can help you achieve the best possible price for your property, please get in touch with us today by calling 02920 668 585, e-mailing enquiries@cpshomes.co.uk or by popping into one of our three Cardiff based branches.
The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.
